Vietnam Reform and Development Forum opens in Hanoi

Tuesday, 2020-09-29 10:01:05
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General view of the Vietnam Reform and Development Forum 2020. (Photo: VNA)
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NDO – The Vietnam Reform and Development Forum 2020 (VRDF 2020) opened in Hanoi on the morning of September 29 under the theme “Vietnam: Actions for making growth recovery rapid, inclusive and sustainable in the context of COVID-19 pandemic”.

The third annual event, jointly held by the Ministry of Planning and Investment (MPI) and the World Bank (WB), features two sessions on the following topics: “COVID-19 and Vietnam’s actions to seize opportunities and enhance position in the global value chain” and “Digital transformation and structural shifts towards inclusion and sustainability”.

The forum aims to discuss Vietnam’s reform and development issues in the new context, thereby reflecting the major concerns of businesses and people, especially amidst the emergence of many new challenges and opportunities. In addition, the forum will continue to contribute to the building of the 2021-2030 socio-economic development strategy and the five-year socio-economic development plan (2021-2025), contributing to improving Vietnam’s position in regional and international forums.

In the first session, delegates will focus on elaborating on some contents, such as an overview of major trends in global trade and production networks; restructuring and enhancing position in the global value chain: opportunities and challenges for Vietnam; seizing opportunities from global value chain shifts: Vietnam’s actions to embrace inclusive growth, attract quality FDI and develop the private sector; and overcoming challenges: businesses’ actions towards resilient and sustainable recovery.

The second session will cover the issues of inclusive digital transformation: opportunities and challenges; Vietnam’s actions to promote digital transformation as a driving force for inclusive and sustainable development; and ensuring inclusiveness in digital transformation.

In his opening remarks, MPI Minister Nguyen Chi Dung stated that in the period of 2021-2025, Vietnam will focus on solutions to promote sustainable growth in the COVID-19 context, striving to become an upper middle-income country by 2030.

Minister of Planning and Investment Nguyen Chi Dung speaks at the forum. (Photo: VNA)

In the face of potential adverse issues such as trade tensions between major global partners and internal shortcomings of the economy that could force the growth rate to slow down and greatly depend on capital and cheap labour, he emphasised the significance of consultations from scientists, ministries, sectors, development partners, and international organisations in helping the Vietnamese Government to make adjustments or issue policies to ensure the prompt recovery of macro balances in orientation towards sustainable and inclusive growth.

WB Country Director for Vietnam Carolyn Turk hailed the forum as an opportunity to assess the progress of Vietnam’s economy in the context of the changing world.

Vietnam has achieved impressive results, but continues to face multiple challenges, she said, expressing concerns about the negative impacts of climate change, extraordinary weather conditions, natural disasters and diseases, which are the adverse factors for socio-economic development efforts in Vietnam at present.

The WB representative suggested that on the basis of its successes in containing COVID-19, Vietnam should take advantage of opportunities to further attract foreign investment and absorb scientific and technological achievements, in addition to giving adequate attention to health, education and social security.

However, it is necessary for the country to clearly define its priority goals and change its ways of working to discover new values in the spirit of innovation, aiming to shape and transform the economic structure as well as increase the economy’s resilience and adaptability in the new context, she said.