Viet Nam became the first partner with World Economic Forum under a Public Private Partnership agreement

At the 47th World Economic Forum (WFF) in Davos (Switzerland), Viet Nam became the first partner with WEF under a Public Private Partnership (PPP) agreement.

Mr. Philip Rosler, WEF CEO, said that the purpose of the agreement was to establish a credible partnership with Viet Nam for exchange of information, as well as wishes to support Viet Nam in the preparation for the Forth Industrial Revolutionary era. Specific cooperation activities may be to provide training courses for better understanding of the Forth Industrial Revolution, challenges and opportunities for Viet Nam.

It is known that the number of participants in training courses, conferences, seminars and internships at both WEF and partner organizations can reach upto 2,000 people per year. With a great cooperation willing, the WEF said that the organization should fund all cooperation activities between WEF and Viet Nam.

Mr. Rosler is gladly optimistic about the prospects for further cooperation between WEF and Viet Nam in the future, when the partnership between WEF – Viet Nam have been built on the basis of years of cooperation, especially in agriculture. Firstly, about 20 WEF’s partner corporations have been supporting Vietnam with building a development strategy for high-quality agricultural products. These businesses are expecting to raise the partnership to a new height.

The new cooperation mechanism WEF wishes to establish with Viet Nam encompasses a comprehensive cooperation from industry, agriculture, infrastructure, trade, information, service, climate change challenges to immigration, economic security, etc. This cooperation mechanism is defined as unlimited, and what WEF has been practicing globally will open to Vietnam the right to access and use both resources and relationships that WEF owns for the development of the country.

On how to proceed this, WEF plans to approach the cooperation mechanism with Viet Nam through two aspects: one is to shape a strategy, where academics will help Vietnam with shaping a management strategy, as well as making policies in response to the Forth Industrial Revoluion; two is to promote and support Viet Nam in the practical implementation of cooperation with leading corporations and enterprises who have been and will be WEF’s partners.

At the ASEAN WEF scheduled for May in Cambodia, WEF will have meetings with Viet Nam, where part of the agenda will focus on the above PPP agreement. It is expected that Prime Minister Nguyen Xuan Phuc will also attend the Forum in Cambodia.

WEF has a partner network of thousands of leading companies, corporations and institutes in all areas. If Vietnam becomes a strategic partner of WEF, we can access and exploit all resources of WEF for the economic development policy making.

Viet Nam is the first partner that WEF wishes to sign a PPP agreement. If this model is successful, it will be replicated. Therefore, if Viet Nam is actively engaged with this strategic cooperation, Viet Nam’s position and role will be enhanced, where Viet Nam will directly contribute to the development of global rules.