Việt Nam backs open, rules-based multilateral trading system: Deputy FM

Việt Nam backs open, rules-based multilateral trading system: Deputy FM

Supply chain diversification and adjustments to global trade rules must be inclusive and deliver broad-based benefits to all countries, particularly developing economies

Overview of the roundtable of trade ministers and chief executive officers. — VNA/VNS Photo

Việt Nam supports an open, rules-based multilateral trading system, Deputy Minister of Foreign Affairs Nguyễn Minh Hằng has affirmed, highlighting the challenges facing developing economies with high levels of economic openness amid growing global uncertainty.

She made the remarks at a roundtable on the future of global trade, supply chains and investment, held as part of the 8th Bloomberg New Economy Forum in New Delhi, India, under the theme “A World in Play: Defining the New Levers of Power”.

The roundtable was co-chaired by Indian Minister of Commerce and Industry Piyush Goyal and former US Commerce Secretary Gina Raimondo. Participants included Bloomberg founder Michael R. Bloomberg, Singaporean Deputy Prime Minister Gan Kim Yong, senior officials from various countries and executives of major corporations in finance, pharmaceuticals, steel and industrial manufacturing.

They discussed the impacts of tariffs and non-tariff barriers, shifting trade flows and supply chain diversification, the growing unpredictability of trade policies, and mounting pressure on the rules-based trading system.

​Hằng stressed that supply chain diversification and adjustments to global trade rules must be inclusive and deliver broad-based benefits to all countries, particularly developing economies.

Global trade, investment and supply chains are increasingly shaped by geopolitical competition, with supply chains becoming strategic instruments for ensuring economic security, she noted, adding that artificial intelligence (AI), technology and digital transformation are also reshaping global trade and investment.

The Deputy FM highlighted Việt Nam’s recent economic achievements, with gross domestic product (GDP) growing by more than 9 per cent in the first nine months of 2026, total trade reaching nearly US$890 billion, and registered foreign investment exceeding $50 billion, up more than 75 per cent year-on-year.

These figures reflect Việt Nam’s role as a stable and strategic partner in global supply chains, she said.

As the country enters a new stage of development, Việt Nam is shifting its approach to foreing investment attraction from quantity to quality. Beyond manufacturing and assembly, it is prioritising high-quality investment that increases domestic value added, promotes technology transfer and strengthens value chain linkages between domestic and foreign-invested enterprises.

Hằng also reaffirmed Việt Nam’s firm commitment to strictly controlling goods’ origin, preventing origin fraud and combating illegal transshipment.

​Held on October 13-14, the forum brought together more than 500 government and business leaders, investors, technology founders and leading experts from around the world.

Discussions focused on assessing the geopolitical landscape, risks and opportunities amid uncertainty, and the key drivers shaping the future of the global economy, including technology, energy, critical minerals and international payment systems.

​Participants highlighted the growing importance of AI and trade in services to global economic growth. Amid mounting uncertainty and volatility, economies need to strengthen their adaptability and strategic autonomy while building trusted partnerships with like-minded countries, they said.

Business representatives also shared insights into supply chain adjustments and reaffirmed their commitment to long-term investment decisions.

On the sidelines of the forum, Hằng met senior Indian officials, representatives from other countries in the region and business leaders to discuss ways to deepen multifaceted cooperation and expand investment opportunities in Việt Nam.

During her meeting with Bloomberg founder Michael Bloomberg and senior executives of the media group, she thanked Bloomberg for inviting Việt Nam to participate in the forum and discussed measures to strengthen bilateral cooperation, particularly in communications and promoting Việt Nam’s image and investment environment ahead of APEC 2027.

Bloomberg praised Việt Nam’s economic role and growth prospects and affirmed its commitment to working closely with the country on communications activities for APEC 2027. 

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