Dr. Pierre Groning, Director Advocacy of Amfori – a Belgium-based global business association – has applauded Vietnam’s increasingly important contributions to the World Economic Forum (WEF).

A World Economic Forum sign hangs inside the Congress Centre ahead of the World Economic Forum in Davos, Switzerland. (Photo: Bloomberg)

In an interview with a Vietnam News Agency’s correspondent in Brussels, Belgium, Groning said Vietnam was demonstrating itself as a country that protects and promotes multilateral order.

Vietnam relies much on external trade and the country’s trade as the percentage of gross domestic product (GDP) exceeds 200 percent, he said, adding Vietnam should maintain cooperation with foreign partners to show local businesses are operating in the best conditions.

Meanwhile, Pascal Kerneis, Managing Director of the European Services Forum (ESF), highlighted Vietnam’s achievements in the fourth Industrial Revolution over recent years.

Vietnam joining the Comprehensive and Progressive Agreements for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA) signaled it wants to participate in the globalisation process and the fourth Industrial Revolution, he said.

Kerneis voiced his support for Vietnam’s efforts to engage in global supply chains.

Vietnam forms part of the production network that churns out products for the world and this is one of the reasons why the country has become an attractive destination for investors, he said.

However, the country should work to maintain investors’ confidence as they may turn to other destinations like Bhutan, Nepal and African countries when labour costs increase in the Southeast Asian nation.

According to Kerneis, Vietnam’s target of a digital economy would be realised thanks to its contingent of creative youths.

VNF ( VNA )