Standing Deputy Prime Minister Pham Binh Minh speaks at the 27th International Conference on the Future of Asia (FOA 2022) in Tokyo on May 26. (Photo: VNA)

He said, entering the third decade of the 21st century, Asia is witnessing historical profound changes, with both opportunities and challenges that have long-term impacts on future generations.

As the region and the world are focusing resources on addressing urgent and unprecedented issues, first and foremost, countries need to make responsible contributions, show mutual respect, and equally cooperate for mutual benefits, he said.

In the region, territorial disputes at sea continue to threaten peace and security. Regarding the East Sea, it is necessary to settle disputes and disagreements via peaceful measures and in line with international law, particularly the United Nations Charter and the 1982 United Nations Convention on the Law of the Sea (UNCLOS), he said.

Minh also suggested that more than ever before, Asia needs to pioneer in upholding multilateralism, and promoting cooperation in an open, inclusive, fair, sustainable and rules-based manner.

“We need to adopt a global approach to resolve increasingly urgent global issues. We need to bolster cooperation and build trust among Asian countries, and enhance our resilience and responsiveness amid rapid changes. At this juncture, all countries need to put aside differences and stand united to support each other,” he said.

According to the Deputy PM, countries need to work closely together to ensure the necessary foundation for growth recovery in all countries and Asia at large, thereby ensuring Asia's role as a key driver for global development. Nations need to establish a self-reliant economy that is closely associated with international integration and resilient against external shocks, and coordinate to tackle emerging global challenges.

As a region leading in digital technology and transformation, Asia needs to take the lead in creating and promoting new drivers for growth, step up cooperation in science-technology and digital technology; advance green, sustainable development, and mobilize green finance for development; encourage entrepreneurship, manage risks, and build incubators for innovative and breakthrough initiatives and ideas; and create favorable conditions in terms of institution, resources, and capacity for small and medium-sized enterprises, he said.

Asia needs to enhance integration and connectivity with other regions and key partners in the world, Minh said, adding that the post-pandemic recovery of Asia will depend greatly on the ability to maintain trade and investment within the bloc as well as with other regions.

Appreciating Japan’s important role in Asia’s prosperity, he stated, as a leading economy of the world, a top market and investor of the region, Japan has pioneered initiatives and is a pivotal link in regional and global economic linkages and value chains.

Japan is among the leading countries in digital transformation, green transformation, supply chain recovery, and cooperation in trade and investment, Minh added.

According to the Deputy PM, Vietnam and Japan are extensive, trusted strategic partners of one another. Over nearly 50 years, both sides have made efforts to achieve outstanding growth in bilateral ties. Vietnam and Japan also share many interests. The two sides enjoy great potential in terms of complementarity and mutual support, and shared interests in maintaining peace, stability, and advancing cooperation, connectivity, and sustainable development in Asia and the world.

Vietnam's development policies

Regarding Vietnam's development policies and orientations, he said the country targets to become a developing country with modern industry by 2025, a developing country with high middle income by 2030, and a developed country with high income by 2045.

Vietnam's development orientation is to develop rapidly and sustainably based on science and technology, innovation and digital transformation and build a green economy and circular economy; putting people as the centre, the subject, the target, and the motivation for development; and implement social advancement and equality; and build a healthy and civilised society, according to the Deputy PM.

The FOA 2022, held in both online and in-person forms, saw the attendance of leaders from Asian countries, including those from Southeast Asian nations such as Lao President Thongloun Sisoulith, Cambodian Prime Minister Samdech Techo Hun Sen, Malaysian Prime Minister Ismail Sabri bin Yaakob, Singaporean Prime Minister Lee Hsien Loong and Thai Prime Minister Prayut Chan-ocha.

During the two-day conference, the political and economic leaders and scholars listen to the views of Asian leaders on regional and international issues. Panel discussions feature topics such as changing the world from Asia, developing Asian business through cultural exchange, the Russia-Ukraine conflict, and Asian security.

The Future of Asia is an international gathering where political, economic, and academic leaders from the Asia-Pacific region offer their opinions frankly and freely on regional issues and the role of Asia in the world.

The event, held every year since 1995 by Nikkei Inc, was canceled in 2020 due to the COVID-19 pandemic. It is considered one of the most important global conferences in Asia.