Can Tho (VNA) – Sharing experience in response tochallenges arising from new trends in international trade and investment wasthe focus of a conference held in Can Tho city on November 30.

The event, which was jointly organised by the Ministry ofForeign Affairs in coordination with the People’s Committee of Can Tho city andHanns Seidel Foundation Vietnam, offered an opportunity for the local administrationand businesses to take advantage of opportunities from the new trends andcreate momentum for the Mekong Delta to over difficulties and lay a foundationfor sustainable growth in the future.

In her remarks, Nguyen Bich Thuy, Deputy Director of the Department for Multilateral Economic Cooperation atthe Ministry of Foreign Affairs, said that the COVID-19 pandemic has affectedall aspects of the socio-economic life and changed the way the economy andcommercial model operate. This caused difficulties inproduction and business, disruption in supply and consumption chains and inflationpressure, she said.

Sharing the view, Michael Siegner, Country Representative of Hanns Seidel FoundationVietnam, said the COVID-19 pandemic has highlighted the importance andcomplexity of the global supply chain. As a result, countries and businesses arefocusing more on the recovery and sustainability of their supply chains, hesaid, adding that they have not only posed challenges but also offered greatopportunities.

Meanwhile, Vo Tri Thanh, Chairman of the VietnamNational Committee for Pacific Economic Cooperation (VNCPEC), underscored the significance of digital transformation, saying the fourth Industrial Revolution allows economies to develop towardsintelligent automation and optimise supply chains.

The trade wars between powers exposed the risksof financial fluctuations and energy, forcing the world economy to adapt to newways of operations, he noted.

Given the current situation, experts said that it is essentialfor Vietnam to promote comprehensive international integration, focusing oninternational cooperation with the dynamic Asian region.

They held that, in order to join the global playing field, Vietnam needsto restructure its economy, paying attention to developing the private sectorand industries with comparative and emerging advantages such as agriculture andfishery, energy, green growth and circular economy.

Participants at the conference pointed out the strengths and limitations of theMekong Delta region in implementing international economic integration in thenew period as well as the challenges of new trade and investment trends forlocalities and businesses in the region.

They also gave many recommendations aiming at attracting investment andimproving competitiveness for localities, businesses and products in the MekongDelta through digital transformation and multi-channel e-commerce, governmentsupport for climate-resilient agriculture./.