Deputy Prime Minister Bui Thanh Son delivers a speech at the forum themed “Emerging Economies” within the framework of the World Governments Summit 2025 (WGS 2025) in Dubai, the United Arab Emirates (UAE) on February 12
Vietnamese Deputy Prime Minister Bui Thanh Son delivered speeches at two forums themed “Emerging Economies” and “Sustainable Development Goals in Action” within the framework of the World Governments Summit 2025 (WGS 2025) in Dubai, the United Arab Emirates (UAE) on February 12.
At the session themed Emerging Economies, Son shared Vietnam's perspective on the current global landscape, and its development directions, and highlighted opportunities for emerging economies.
He emphasised three major trends shaping the global economic and political landscape. First, the rapid development of digital technology across all fields, along with the synergistic impact of new technologies such as biotechnology, quantum technology, and artificial intelligence (AI), is transforming production forces and supply chains, creating exceptional value that leads the world into a new era of development – the digital and intelligent age.
Second, the polarisation of politics, geopolitics, and geoeconomics, along with the increasing fragmentation in trade, science and technology, and innovation, are becoming more complex. And third, global challenges, both traditional and non-traditional, are creating urgent demands for reforms in global governance, national governance, and corporate governance.
According to the Vietnamese representative, while the international context is full of challenges, it opens up opportunities for developing countries, especially emerging economies, to make leaps to catch up, move forward, and surpass others in the global flow.
In this context, cooperation and connectivity are decisive for mutual prosperity. In the changing global economic and political landscape, emerging economies, including Vietnam, have continuously innovated, and been creative, and flexible in their approaches and development thinking, becoming bright spots for global economic growth. From a less-developed economy ravaged by war, Vietnam has risen to become the 33rd largest economy in the world, Son shared.
The Deputy PM affirmed Vietnam as a safe and attractive destination for international investors. In 2024, it ranked among the world's top 15 developing nations in foreign investment attraction, securing approximately 40 billion USD, with disbursed foreign direct investment reaching some 25 billion USD.
Vietnam has established itself as one of the world's 20 largest trading economies, having signed 17 free trade agreements. The country ranks 44th out of 132 nations in the Global Innovation Index and has become an important link of regional and global supply chains.
Deputy PM Son noted that Vietnam is undergoing a dramatic transformation towards a digital, green, and high-tech economy which is friendly with the environment. It has carved out its position in the global semiconductor industry, attracting multiple tech giants. These achievements have built momentum and confidence for Vietnam to continue its inspiring success story of 40 years of Doi moi.
With a view to making breakthrough development in the new era – that of the nation’s rise, raising the country’s status to a developing nation with modern industry and upper-middle income by 2030 and a developed one with high income by 2045, the Vietnamese Government has continued to strongly reform its mindset, perfect comprehensive institutional frameworks regarding economy, politics, culture, society and environment, and capitalise on all potential and resources to create new motives for fast and sustainable development.
During every transformation process, Vietnam always places the people at the centre, business as the pioneering force, and the Government as a facilitator, he stated.
The Deputy PM expressed his hope for continued support from the UAE, Middle Eastern, and global partners, businesses, and investors, highlighting Vietnam prioritises investment in green transition, digital transformation, innovation, high technology, AI, semiconductor, renewable energy, and the development of financial and innovation centres. The country emphasises quality, efficiency, advanced technology, and environmental protection as its primary investment criteria.
Vietnam pledges to be a strategic choice as well as a safe and attractive destination for businesses and investors to build long-term, effective, and sustainable economic partnerships, he underscored.
Addressing the debate themed Sustainable Development Goals in Action, Son highlighted Vietnam's experience and achievements in realising the SDGs.
Like other countries, Vietnam attaches great importance to and has made significant efforts to achieve SDGs 10 years ahead of schedule, he stated, adding that the country is continuing its efforts to implement SDGs.
According to Son, from a poor and backward country ravaged by war, Vietnam, with its “Doi moi” (renewal) policy, has become the 33rd largest economy in the world. Vietnam has taken the lead in successfully fulfilling SDGs, especially in poverty reduction, healthcare, and education.
With its new strength and position, Vietnam has proactively contributed to addressing global challenges and playing an active role at many multilateral forums. The country has affirmed to seriously implementing commitments it has made, particularly achieving net-zero emissions by 2050.
In the context of epochal changes with both opportunities and challenges, Vietnam has no choice but to adopt a new, sustainable and inclusive development mindset with innovation and creativeness in governance and management, an action-oriented and breakthrough approach for sustainable development and a new partnership based on the foundation of international solidarity, promoting fairness, multilateralism, and respect for international law, Son said.
He shared Vietnam's viewpoint to realise the SDGs. First, peace and stability are the foundation for creating a prosperous future. All disputes should be resolved through peaceful measures, all conflicts should be reconciled, and all confrontations should be replaced with cooperation and dialogue.
Second, new thinking creates a transformative, comprehensive future, focusing on digital transformation, green transition and global governance reform. Hence, Vietnam will host the Partnering for Green Growth and the Global Goals 2030 (P4G) Summit scheduled on April 16-17, and the 16th UN Conference on Trade and Development (UNCTAD) in October this year.
Third, governments must take the lead in effectively connecting, mobilising, and utilising resources to address national development needs.
Fourth, they must prioritise international cooperation, multilateralism, and global, all-people and inclusive approaches to address challenges, enhance capacity and effectiveness, and ensure readiness for a rapidly evolving world.
Fifth, people must remain at the centre, the core subject, the goal, the driving force and the most important resource behind every policy and initiative.
Therefore, Son called for enhanced cooperation among governments to develop shared governance standards and ensure that new technologies are harnessed for the benefit of humanity and global prosperity.
He remarked that guided by the principle of not sacrificing progress, social equity, and environmental protection in pursuit of mere economic growth, Vietnam is committed to partnering with governments and the international community to advance the SDGs, for a future of peace, stability, prosperity, and sustainability for all nations.
On the sidelines of his participation in the WGS 2025 on February 11-12, the Deputy PM met with Sri Lankan President Anura Kumara Dissanayake, Arab League Secretary-General Ahmed Aboul Gheit, UAE Minister of Economy Abdulla Bin Touq Al Marri, and Bahrain’s Minister of Finance and National Economy. He also worked with David Gibson-Moore, chairperson of Dalma Capital and Gulf Analytica, while meeting other leaders from a number of corporations and international organisations, including the World Free Zones Organisation (World FZO).
