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Wednesday, March 3 2021
Tiếng Việt
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Date 29/09/2020-16:42:00 PM
Vietnam: Actions to restore rapid growth towards sustainability and inclusion in the context of the Covid-19 pandemic
(MPI) - This is the theme of the Annual Forum on Reform and Development 2020 (VRDF 2020) held on September 29th, 2020 under the co-chair of the Minister of Planning and Investment Nguyen Chi Dzung, World Bank Country Director for Vietnam Carolyn Turk, and Australian Ambassador to Vietnam Robyn Mudie.
Panorama of the Forum. Photo: MPI

Joining hands, being creative and making efforts to realize "dual goals" while fiercely "fighting against epidemics like fighting against the enemy"

The most important goal of the Forum this year is to provide inputs to help Vietnam complete the draft Strategy for national socio-economic development for the period 2021-2030 and the 5-year socio-economic development orientation for the period 2021-2025.This is an opportunity for international scholars and experts to exchange and discuss directions and solutions to promote socio-economic development as well as for Vietnam to share its experience of successes and failures with countries of the same economic development level.

Speaking at the opening of the Forum, Minister Nguyen Chi Dzung emphasized the meaningful context of the Forum.He also highlighted Vietnam’s strong and steady development steps to achieve great and comprehensive outcomes, the great challenges coming from the Covid-19 pandemic which have had a huge impact on Vietnam's socio-economic development.Under the leadership of the Party and upholding the will and spirit of the nation, the Government and People of Vietnam have joined forces, been creative and endeavored to realize the "dual goal", while both fiercely "fighting the pandemic like fighting against the enemy” and being determined to maintain, restore production, develop economy, and ensure people's lives so that "no one will be left behind".

Minister Nguyen Chi Dzung also underlined the results of controlling the Covid-19;the macroeconomic situation of Vietnam;forecasts about the prospects for economic recovery in the world and Vietnam;solutions to cope with difficulties and challenges, grasping opportunities, catching up with and advancing with the development of the world towards rapid, sustainable and inclusive growth.

At this Forum, Vietnam wishes to learn from experiences in the world, listening to the profound advice and recommendations of international and domestic experts and scholars for two main focuses: Covid-19 and Vietnam's action to seize opportunities and enhance its position in the global value chain and Digital Transformation and economic restructuring towards inclusion and sustainability.

Taking action to seize opportunities and improving the position in the global value chain

World Bank Country Director for Vietnam Carolyn Turk speaking at the Forum. Photo: MPI

Speaking at the Forum, World Bank Country Director in Vietnam Carolyn Turk said that VRDF was an effective forum to exchange solutions toaddress emerging challenges in Vietnam.She also congratulated Vietnam on its outstanding achievements in controlling and preventing the Covid-19.While many countries around the world are "struggling" to cope with the Covid-19, Vietnam has been able to overcome the pandemic with very few cases of infection and death.This shows how the Government of Vietnam is governed and recognized by the international community. Recently, the Government of Vietnam has acted effectively in preventing the pandemic in Danang city.

According to Carolyn Turk, the Covid-19 has had a short- and long-term impact on the way of working, moving and communicating.However, there are always opportunities for global trade and investment and opportunities from the non-contact economy in the crises.Therefore, the Forum is an opportunity for all delegates to exchange and find ways for Vietnam to act to restore rapid growth in a sustainable and inclusive direction in the context of the Covid-19 epidemic.

The Forum also discussed what Vietnam needed to do to enhance its position, especially in attracting new generation of FDI to move to higher ranking.It is time that Vietnam does not necessarily attract FDI in quantity, but maximizing the use of FDI through technology transfer and human resource enhancement.Vietnam has begun to implement digital transformation and may need to do more because education and health services, and so on will all be communicated via the Internet in the future.Accordingly, the Government of Vietnam should focus on accelerating this process through projects of national public service, building databases and inclusive ecosystems.

Vietnam has made great achievements in the development process and is building a new socio-economic development strategy and plan. The effective management, successful implementation of Covid-19 fighting activity is a model that needs to be replicated in many important policies for Vietnam to have a better role in the value chain.This requires individual and collective commitment to implementation and innovation.

Australian Ambassador to Vietnam Robyn Mudie speaking at the Forum. Photo: MPI

Australian Ambassador to Vietnam Robyn Mudie said that the Covid-19 pandemic continued to present challenges in public health and economy around the world as well as in Vietnam, affecting the speed of development.Vietnam should be proud of its ability to control the pandemic and has been recognized and appreciated.However, the challenge for Vietnam is how to replicate its success in the economic sector.At the same time, there are 2 trends affecting Vietnam's economic growth, including digital shifting and recovery of the supply chain.The Strategy and Plan for the next socio-economic development also address this trend. Australia would like to hear from Vietnam on these trends.

Assessing the bilateral relationship between Vietnam and Australia, Ms. Robyn Mudie said that the two sides had achieved very good cooperation results. Australia is committed to continuing its contributions to Vietnam's economic development in the coming time, especially in the process of economic rebound, supporting the development of skills needed by industries so that Vietnam can restore the supply chain and overcomesupply chain disruptions and the Fourth Industrial Revolution.

Ms. Robyn Mudie believed that Australia's continued and upcoming support would contribute to helping Vietnam to better implement its efforts and goals, especially in the process of economic recovery. She also thought that Vietnam would take advantage of its strengths and experiences to solve the challenges of the post-Covid-19 period and reap immediate successes.The efforts of the Government of Vietnam demonstrate the determination to develop so that no one will be left behind for a faster and more sustainable economy in the future.

At the Forum, delegates who are prestigious international and domestic speakers focused on discussing two symposiums, session 1: “Covid-19 and Vietnam's actions to seize opportunities and raise its position in the global value chain” and session 2: “Digital transformation and economic restructuring towards inclusion and sustainability”.

The Forum has a wide participation of policy makers, development partners, domestic and foreign experts, and the private sector in both on-site and online forms.As taking place in a different context from the two previous forums held in 2018 and 2019, the Forum also has online participation in addition to the direct participation of many reputable speakers, particularly, the main participation of the World Bank Deputy Director, former World Bank Country Director Victoria Kwaka, International Advisor and Senior Expert of the United Nations Development Program (UNDP) Jonathan Pincus;video presentation of former President of the Republic of Estonia Toomas Hendrik Ilves.

Minister Nguyen Chi Dzung wrapping up the Forum.Photo: MPI

Vietnam is to see many new opportunities

Speaking at the closing of the Forum, Minister Nguyen Chi Dzung said that the Forum was held in a very special context that Vietnam was preparing to organize the 13th National Congress of the Communist Party of Vietnam and to formulate the country's socio-economic development strategy and plan in the coming period.This is a very meaningful time for us to contribute to the documents of Vietnam, locating and giving a strategic direction to prepare for a new stage of development.In addition, the Covid-19 pandemic has created a rapid change for both the world and Vietnam, having a comprehensive impact on economic, political and social affairs on a global scale.It has created many new challenges and opportunities.Vietnam has made efforts to achieve remarkable achievements in controlling the Covid-19 pandemic. In this profound change, the country is facing many new opportunities besides the difficulties and challenges, especially in respect of trade, investment, digital transformation, raising its position in the global value chain. This is an opportunity to create "pressure", forcing Vietnam to reform faster and more effectively. Along with that, it is necessary to quickly restructure the entire economy, including each industry, sector, locality, and to rapidly change the current growth model.

Through two sessions of the Forum, policy makers, experts, organizations and individuals involved have exchanged, shared, anddiscussed openly and frankly about reform and development of Vietnam in the new context.The Forum has helped to better identify Vietnam's development context, opportunities and challenges in the new stage of development and identified solutions and actions for Vietnam to seize opportunities and improve its position in global value chain;to make digital transformation and economic restructuring towards more inclusive and sustainable development in the coming time.

Minister Nguyen Chi Dzung informed that many hot, global and specific issues were discussed at the Forum such as shifted and declined trade and investment flows, broken supply chains and changes in the production network;opportunities and challenges for Vietnamese enterprises in the Covid-19 outbreak and in the "post-Covid-19";the issue of enhancing Vietnam's position in the global value chain, the issue of taking advantage of opportunities to attract quality foreign investment projects, the direction of restructuring Vietnam's economic sectors to comply with the new development context;orientation and solutions to digitize the economy in the direction of inclusion and sustainability, etc. All these issues are aimed at rapid growth recovery in the direction of inclusion and sustainability which were shared and exchanged among the representatives to find new and creative ways.

The Forum has received many profound and useful opinions and comments for Vietnam.Domestic and foreign experts have advised and proposed many new and valuable ideas and solutions of how to capture opportunities to develop key sectors and industries of the economy, and enhance the country’s position in the global value chain;short-term and long-term solutions to support businesses and people, bringing the economy back to a fast, inclusive and sustainable growth trajectory;important actions and reforms which need to be taken to accelerate Vietnam's digital transformation and economic restructuring towards greater inclusion, sustainability, and efficiency.

Minister Nguyen Chi Dzung emphasized that, from the insightful and valuable comments, analysis and recommendations of speakers and experts at the Forum, Vietnam was deeply aware that the reality of developing the country and the new context, especially the serious and multidimensional impacts from the Covid-19 pandemic, is demanding that Vietnam quickly and decisively seize opportunities, overcome challenges, implement comprehensive reform and development with all determination, the national traditions and the will of Vietnamese people as well as inheriting and promoting the achievements accumulated from more than 30 years of renovation.

Based on the discussions and profound contributions of experts, scientists, domestic and foreign managers, and development partners, Vietnam will continue to study and propose to issue specific and practical policies for the Party and Government in the coming time.The Forum has achieved its set objective of contributing to the completion of documents for the XIII National Party Congress.

Minister Nguyen Chi Dzung said that the Covid-19 certainly had a long-term impact on the global economy in general and the Vietnamese economy in particular.The new development context requires countries and economies around the world to strengtheninternational cooperation, especially in trade and investment, with flexible and appropriate modes.Vietnam needs to prepare to embrace a future shift in global value chains and effectively seize opportunities from this movement, while taking care to minimize the possible negative impact of increasing technology application to the labor market.Ensuring inclusiveness or equality in digital approach is one of the important requirements to realize inclusive growth and sustainable development.

A noteworthy point is that no matter what solution is implemented, no matter how modern or modern the technology is, human is still the decisive factor leading the transformation and development process.For example, in the field of digital transformation, we need to prepare carefully human resources for digital transformation to develop digital society.Besides, effective implementation is always the decisive factor for the success of all measures and policies.

Minister Nguyen Chi Dzung believed that, with the companionship and effective technical and financial support of development partners, with the high determination of the whole political system, Vietnam would soon recover its economic growth, increasing resilience to shocks from the Covid-19 pandemic, creating a growth spurt, making effective use of scientific and technological achievements to enhance national position, and contribute to the global and regional commonwealth.

Given intellectual and responsible comments, the Forum will continue to spread and create a consensus in the community and society to help Vietnam's economy recover soon, contributing to the realization of aspirations to build Vietnam into a powerful, prosperous and modern industrial country with high middle income by 2030 and a developed country with high income by 2045./.


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