Forum discusses Vietnam's socio-economic situation during first nine months of 2020

Thursday, 2020-09-24 16:40:10
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Delegates at the forum. (Photo: VNA)
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NDO – Policy makers, economists and business representatives gathered at a forum that opened in the Mekong Delta city of Can Tho on September 24, discussing Vietnam's socio-economic situation in the first nine months of this year.

Co-hosted by the National Assembly (NA) Office and the NA’s Economic Committee with technical assistance from Germany’s Hanns Seidel Foundation, the two-day forum also seeks solutions to boost Vietnam’s socio-economic development.

According to Deputy Chairman of the NA Office Pham Dinh Toan, the event aims to look at the socio-economic picture during the Jan-Sept period of 2020, while giving assessments on the impacts of the COVID-19 pandemic on Vietnam’s economic growth.

Participants also discussed opportunities and challenges in the realisation of the “dual goals” of both fighting COVID-19 and resuming socio-economic activity in the coming years, as well as the prospects of Vietnam's socio-economic development on a digital basis.

Nguyen Xuan Thanh, senior lecturer at the Fulbright University Vietnam, said that with the impacts of the COVID-19 pandemic, all global economies are subject to the dual effects of changes in both supply and demand, many countries suffering economic recession and negative growth in the first two quarters of 2020. Meanwhile, Vietnam is the only economy in the region currently experiencing positive growth (3.8% in Q1 and 0.4% in Q2). Most likely, Vietnam will be one of the only economies in the world with positive growth in 2020.

According to Thanh, in 2020, if disbursement of public investment capital reaches 90%, investment in the State sector will increase by 12% and asset accumulation will also go up by 4%, while GDP will increase by 2.5%.

In addition, if public investment disbursement reaches 100%, investment in the State sector will increase by 16.5%, accumulated assets will go up by 5.3% and GDP will increase by 2.9%, respectively.

Participants at the forum also discussed three topics featured across the three sessions, focusing on an overview of Vietnam's socio-economic situation in the first nine months of 2020, the current situation, prospects for the Vietnamese economy on a digital basis and the current situation and development of Vietnam's socio-cultural fields on a digital basis.