An overview of the National Conference on Foreign Affairs (Photo: VNA)

Alongside, it is necessary to focus on developing fundamental industrial sectors and form strong industrial firms with close links with the global supply chains, together with the development of breakthrough sectors to match international trends, he said.

The official stressed the need to pay more attention to the role of businesses as the centre of external economic activities by focusing on removing difficulties and obstacles facing them, supporting them in international integration, and speeding up administrative reform to facilitate investment, business as well as import-export activities, and assiting enterprises in expanding operations abroad.

He said that it is crucial to concentrate on building an economy of independence and self-reliance on the basis of multilateralisation and diversification of external economic relations to avoid dependence on a particular market or partner. Together with ensuring harmony in interest, he noted promoting cooperation in shaping common regulations in international labour division to improve the position of Vietnam in the regional and global value, production and supply chains.

Minister of Industry and Trade Nguyen Hong Dien addresses the conference (Photo: VNA)

The minister also underlined the necessity to improve the capacity of agencies and officials engaging in foreign economic activities as well as the business community in issues related to foreign economic strategy, trade protectionism and risks of supply chain crackdown, along with the development of high-quality human resources.