He said this:
Our development philosophy includes the followings : First, develop rapidly and sustainably on the basis of science, technology, innovation, digital transformation. Ensure harmony among economic growth, social and cultural development and environmental protection, and enhance climate change adaptation. The major directions for development include reform of growth model, economic restructuring, green growth, market’s demand, emerging industries and increase of productivity.
Second, complete a full-fledged, synchronized, modern and integrated institutional framework for development is the prerequisite for a favorable, healthy and fair environment for all economic sectors.
Third, inspire the aspirations for the development of a nation of prosperity, happiness and strong resilience and bring into full play the national unity. Unleash the strength of human factor and consider human as the center, the subject, the most important asset and driver for, and the goal of development. We shall not sacrifice social progress and justice in exchange for pure economic pursuit.
Fourth, develop a self-reliant economy on the foundation of mastering technology, active integration and greater adaptability. Harnessing internal strength is decisive along side external resources and the power of our times.
Fifth, implement a foreign policy of independence, self-reliance, multilateralization and diversification. To actively engage in comprehensive, intensive and effective international integration as a responsible member of the international community.
This is a very Marxist approach of State Capitalism with industrial aspects that China and Vietnam adopt in the last 50 years. In the case of Vietnam, I can summarize this very easily.
- Developing a philosophy around economic development and economic stability. Growth is merely a secondary aspect that must be harmonized with environmental sustainability. Basically, you must adopt Marxist thought and other socialist philosophies. Socialism must rule the days!
- Synchronizing your Marxist economic plans with reality. Putting those socialist economic plans at work! With harmony, synchronization, speed, stability.
- National unity or Political stability is most important of all. Political security must be assured at all costs! The human factor should be nurtured under a socialist environment where human potentials are unleashed, unlike those college students in the US who are being crippled by debts. A socialist economy treasures the growth, contribution and development of individual humans to society. Free healthcare, Free housing, Free education,…
- This part is Industrial Capitalism under State control that Marx described and encouraged extensively in his first book of Das Kapital. Germany under the Bismarck era implemented this policy successfully that transformed Germany into a rising power to threaten the British Empire and the French Republic. This is what Michael Hudson and other Marxists called “physical economy” that the West deliberately lost for the sake of making higher profits under rentier capitalism.
- Foreign policy and military emphasize the independence of a socialist state striving towards communism. This state must be Marxist-Leninist! A type of state that does not dabble in colonial imperialism for-profits like those capitalists in the West. This state encourages the development of the Earth and the advancement of humanity as a whole.
This is the future plan of Vietnam in his speech.
In the next ten years, Vietnam will focus on three strategic breakthroughs: to complete the institutions, upskill the workforce and develop a synchronized infrastructure system. Vietnam will give top priorities to projects in the fields of digital, green and circular economy, and climate change adaptation.
Complete institutions = Necessary facilities, organized groups, powerful industries to attain the status of an Industrial state capitalist economy with all core technologies, adaptive sciences and self-reliant industries.
Upskill the workforce = Train and educate the workforce into high-skilled workers and elite businesspeople.
Synchronized infrastructure system = Development of infrastructures across the country, which Vietnam horrendously lacks at the moment.
Digital, green and circular economy, and climate change adaptation = Green economy is the future. Unlike Japan, which is now protecting the conservative auto industries and Keiretsus from EV adoption and the implementation of Green technologies. I am quite surprised that why Japan even organized a conference without actual mention of Japanese development towards the Green future!
Vietnam stands ready to help you explore new opportunities for cooperation and investment in strategic infrastructure, energy, manufacturing and supporting industries, environmental industries, high-quality agribusiness, electronics, ICT, biotechnology, smart cities and logistics.
If you are investors to Vietnam, then you should pay close attention to this statement. Vietnamese government will provide incentives for these industries.
If you don’t know about Industrial Capitalism vs Financial Capitalism, then Michael Hudson will explain for you here above.
Vietnam Communist Party adamantly holds the Marxist belief into their economic policies. It reflects the views of Michael Hudson against the financial rentier economy.
Prime Minister Pham Minh Chinh attended and delivered a speech at the 2021 Global Trade in Services Summit via video on the evening of September 2, at the invitation of Chinese Party General Secretary and President Xi Jinping.
Comrade Xi Jinping, General-Secretary, President of the People’s Republic of China,
Excellencies Leaders of Governments and international organisations,
Distinguished delegates,
Ladies and gentlemen,
Today, it is my great honor and pleasure to deliver my remarks at the Opening Ceremony of the 2021 Global Trade in Services Summit, under the theme of “Towards Digital Future and Service Driven Development.” At the outset, I wish to express my sincere thanks to Comrade Xi Jinping, General-Secretary, President of the People’s Republic of China, for inviting me to this very meaningful Summit. On this occasion, on behalf of the Government of Vietnam, I would like to extend my heartfelt greetings, warm regards and best wishes to Excellencies Leaders and distinguished delegates present.
Ladies and gentlemen,
We are entering the 3rd decade of the 21st century, an era of digitalisation with numerous intertwined opportunities and challenges. As countries are facing the collective impacts of the COVID-19 pandemic, climate change, and depletion of natural resources, stronger international cooperation and effective application of digital technology are among the key solutions. This will create new drivers for economic growth and recovery, thus ensuring sustainable, inclusive, and comprehensive development. Moreover, stepping up cooperation in digitalisation is a key contributor to an environment of peace, stability, cooperation, and development among countries and peoples across the world.
The remarkable achievements and sound investment in digital technology as seen in many countries, including China, have been truly impressive. Reality has shown that the development and application of science and technology have ushered in tremendous benefits. They have enabled economies to transform their growth models, make better use of available resources, and promote the flow of capital, goods, and services at an unprecedented scale and magnitude.
Vietnam has long been aware of the importance of digitalisation. Accordingly, we have been accelerating digital transformation of the economy, and the development of digital economy and society. With that in mind, I wish to share with you the following points:
First, we should harness the opportunities presented by the fight against Covid-19 to kickstart digitalisation, with the focus on digital technology and digital economy, in order to soon realize the UN 2030 Sustainable Development Goals. Vietnam looks forward to the active and effective cooperation of the international community to ensure that digitalisation is truly a new method for narrowing not only the development gap among countries, but also social inequalities. Such cooperation will also help ensure that people living in underdeveloped or remote areas can enjoy equal access to services provided through digital platforms.
Second, it is necessary to uphold the role of international agreements on digital technology and digital economy. They would drive the development of these areas, while safeguarding the legitimate demands of countries in ensuring cyber security and safety, and personal privacy, preventing monopoly and eliminating inequality in tax obligations. In this spirit, Vietnam has participated in shaping new norms pertaining to e-commerce in free trade agreements, most recently ones being the Regional Comprehensive Economic Partnership (RCEP) and the ASEAN - China Free Trade Area (ACFTA). Vietnam welcomes China’s ideas and efforts in these areas, and stands ready to work with China and other countries to formulate an appropriate legal framework, with a view to promoting the healthy, rapid, suitable, extensive, effective and harmonious development of our digital economies, for the common interest of the whole society.
Third, it is essential to strengthen cooperation in education and training of human resources, and bolster the connectivity among the scientific and technological communities between different countries and regions. This would serve to improve digital literacy for our businesses and people, and support workers, particularly those from disadvantaged groups, in gradually adapting to digital technology.
Fourth, we need to promote digital technology in facilitating trade, supporting the flow of goods and services, especially via multimodal transportation, and the movement of people.
This would prevent the disruption of the supply chains, particularly as the COVID-19 pandemic may persist.
Fifth, we should bolster cooperation to enhance cross-border digital trade in a fair and mutually beneficial manner, thereby promoting exports, especially those of seasonal agricultural and aquacultural goods.
Ladies and gentlemen,
As an ASEAN member with robust economic growth, Vietnam has a network of 17 Free Trade Agreements with over 60 partners, a domestic market of around 100 million people, the majority of which is made up of young people, and an innovation-driven mindset that is highly responsive to digital technologies. Taken all together, Vietnam has vast untapped potential in developing its digital economy. Currently, nearly 70 percent of Vietnamese people are Internet users, and Vietnam is among the fastest growing countries in terms of digital evolution momentum.
Vietnam hopes that cooperation in the development of digital economies will be given due priority and become a core focus in its relations with other countries, and in its Comprehensive Strategic Partnership with China. At present, China is Vietnam’s largest trading partner, while Vietnam is China’s 5th largest trading partner in the world, and the largest within ASEAN. Vietnam attaches great importance to cooperation with China and other countries in trade in services and digital economy development. Together we will ensure that such ties would be more open, inclusive, sustainable, fair and humanistic, on the basis of mutual respect and interest. Such concerted efforts would be a meaningful contributor to the development of each country, and bring about substantial benefits to the region and beyond.
May the 2021 Global Trade in Services Summit be a resounding success!
I wish you all good health, happiness and greater success.
Thank you.
His remarks at this conference also reflect the my sentiment above.
