University of Toronto

G7 Information Centre
G20 Information Centre

Munk School of Global Affairs

Viet Nam: A Country for Peace, Cooperation, Development and Shared Prosperity

Xuan Phuc Nguyen, Prime Minister, Viet Nam

Supplement to G7 Japan: The Ise Shima Summit 2016,
edited by John Kirton and Madeline Koch, with guest editor Naoki Tanaka
Published by Newsdesk Media Group and the G7 Research Group, 2016

William Robertson Davies, a famous Canadian novelist, playwright and literary critic, once said, "Extraordinary people survive under the most terrible circumstances and they become more extraordinary because of it." Our country and our people are a living proof of the truth of these words. More than 40 years ago, Viet Nam was known as little more than a country of war, pain and loss. Yet, overcoming all else, driven by patriotism, bravery and creativeness and assisted by peace-loving peoples all over the world, the Vietnamese people have risen to defend the independence and unity and enter an era of peace and development. From a less developed country with a closed economy, Viet Nam has gradually become one of the most dynamic economies in the Asia-Pacific region, one that is integrating ever more deeply into the global economy.

In implementing the reform (Doi Moi), Viet Nam has successfully shifted from a centrally planned and subsidized economy into a market economy. We have risen from the ashes of a poor, less-developed and war-torn land to become a middle-income developing country. Our economy has been doing well. Between 1986 and 2010, Viet Nam's economic growth averages more than 7% per annum. Between 2011 and 2015, in spite of the negative impacts of the global financial crisis and economic recession, we have maintained macroeconomic stability and sustained a gross domestic product growth rate of 6% per annum on average. Social welfare was maintained. Sociopolitical stability is safeguarded on the basis of the people's consensus. Viet Nam is praised by the United Nations as the country having fulfilled many Millennium Development Goals ahead of schedule. Viet Nam is the destination of more than 20,000 foreign direct investment projects from 103 countries and territories with a total registered capital of nearly US$300 billion, of which US$145 billion was implemented. Trade value between 2011 and 2015 grew by 15% per annum on average, reaching US$330 billion in 2015.

Viet Nam has focused on building a rule-of-law state; promoting the people and enterprises' freedom and democracy; formulating a well-rounded market economy; restructuring the economy alongside with transforming the growth model towards improving productivity, efficiency and competitiveness; promoting  cultural development and social progress and equity; raising the people's living standard; protecting the environment and responding to climate change. For the 2016-2020 period, our growth target is 6.5% to 7% per annum.
I am proud to say Viet Nam is one of a few countries in the world acting as a connecting hub between the world's important economies, both regionally and globally, including all G7 and 17 out of 20 G20 countries. Viet Nam makes every effort to strengthen and promote relations with all countries in the world, as "a friend and reliable partner and responsible member of the international community." Today, Viet Nam have had bilateral diplomatic and trade ties with almost all countries and territories in the world, and deeply integrated into the world. We are also an active member of more than 70 international organizations, making responsible contributions to many multilateral forums and mechanisms.

In that spirit and with the awareness that Viet Nam's development is inseparable from the common development of the region and the world, we attach great importance to, and hope to continue to receive the support of G7 countries and the international community in order to achieve the Sustainable Development Goals in order to contribute to the promotion of peace, stability, cooperation and prosperity in the region and the world. We are certain that G7 countries have an important role to play. They have made major contributions to the joint effort of the global community in promoting global economic recovery and trade and investment linkages. They have been effectively addressing challenges to global development. And most of all, they have been ever working towards a peaceful and stable environment in the Asia-Pacific region and the world.

As a final remark, I wish to emphasize that Viet Nam has been and will ever remain a reliable partner and responsible member of the international community. We bring to this expanded G7 summit the image of a peaceful and stable Viet Nam, ever desiring to contribute to a strategic vision: together with the international community, tirelessly building a peaceful and stable environment for common development and prosperity in the world.

[back to top]

This Information System is provided by the University of Toronto Library
and the G20 Research Group and G7 Research Group
at the University of Toronto.
Please send comments to:
This page was last updated August 18, 2016 .

All contents copyright © 2018. University of Toronto unless otherwise stated. All rights reserved.