Participants in a plenary session of the Vietnam Economic Forum 2021 on December 5 (Photo: VNA)
The Vietnam Economic Forum 2021, themed “Recovery and Sustainable Development”,
took place in Hanoi on December 5 under the chair of National Assembly (NA) Chairman
Vuong Dinh Hue.
The event was also
connected with localities nationwide and some places in the US, France, and
Thailand via videoconference.
In his opening remarks,
Chairman Hue emphasised that to cope with the COVID-19 pandemic and support
socio-economic development over the last two years, Vietnam has applied fiscal
and monetary policies and other macro-policies in a relatively uniform manner. The
parliament has also issued resolutions, legal frameworks, socio-economic
development plans, and those on financial - budgetary affairs, public debt,
public investment, and economic restructuring for 2021 - 2025.
The forum was a chance for the NA and
relevant agencies to listen to proposals from domestic and foreign experts,
development partners, legislators, people, and businesses to help with
socio-economic recovery and sustainable development, towards promoting
innovation, green growth, and digital transformation.
At the event’s plenary session,
participants gained an overview of the global economic situation amid the
pandemic and put forth several policy recommendations for Vietnam to boost
recovery and sustainable development.
Dr Can Van Luc, Chief
Economist at the Joint Stock Commercial Bank for Investment and Development of
Vietnam (BIDV) and member of the National Financial and Monetary Policy Advisory
Council, pointed out that the pandemic has taken a heavy toll on the country’s
economy and society, especially in 2021. Without special aid programmes and
packages, Vietnam may miss opportunities and lag behind.
showed that a country should strongly invest in healthcare infrastructure and expand
the Government guarantee to corporate loans, particularly those of small- and
medium-sized enterprises, he said, suggesting that an aid package be divided
into the three phases of beginning, acceleration, and conclusion.
Nguyen Minh Cuong, Chief
Economist at the Asian Development Bank (ADB) in Vietnam, said the country
posted the fastest growth rate in Southeast Asia in 2020, but the fourth wave
of COVID-19 outbreaks has severely affected its economic growth, and the
economy is forecast to contract sharpy this year.
However, the medium- and
long-term economic outlook remains positive, he noted.
Cuong held that support packages
should prioritise short-term solutions assisting businesses and workers;
classify and identify appropriate targets for short, medium, and long terms;
and increase cooperation with international partners in health care and