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Sunday, January 24 2021
Tiếng Việt
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Date 22/12/2020-13:36:00 PM
Opportunities and challenges in a new normal
(MPI) - On December 22nd, 2020, the Ministry of Planning and Investment in coordination with the International Finance Corporation (IFC) and the World Bank (WB) organized Annual Vietnam Business Forum 2020 with the subject: Opportunities and challenges in the new normal which was co-chaired by Minister of Planning and Investment Nguyen Chi Dung, World Bank Vietnam Director Carolyn Turk, IFC Senior Country Manager for Vietnam, Laos and Cambodia Kyle F. Kelhofer.

The forum was attended by Deputy Prime Minister Pham Binh Minh and leaders of agencies of the Party National Assembly, relevant ministries and line ministries,representatives of the business community, diplomatic agencies, international organizations and business associations.

Minister Nguyen Chi Dung giving opening speech at the Forum.Photo: MPI

Speaking at the opening of the Forum, Minister Nguyen Chi Dung said that 2020 was considered as a year of great difficulties and challenges in which all countries in the world, including Vietnam, were facing the outbreak of Covid-19.However, Vietnam still achieves positive results with the maintenance of growth momentum and estimated GDP of 2020 about 2.5-3% thanks to strong and effective solutions in realizing the dual goal, namely controlling epidemics and restoring economic development. This is also the last year of the 5-year Socio-Economic Development Plan for the 2016-2020 period when Vietnam overcame many challenges to achieve important and comprehensive results in almost all sectors.The whole country has well focused on controlling the Covid-19 pandemic, creating favorable conditions for socio-economic recovery and development.The macro-economic situation is kept stable with controlled inflation at a low level and raised growth quality.The growth rate in the 2016-2019 period is quite high at an average of 6.8% per year.Resources are concentrated to invest in the socio-economic infrastructure system. Many important works and large-scale projects have been completed.Economic restructuring associated with the growth model innovation is accelerated and has achieved positive results.Administrative reform achieves clear results and investment and business environment is improved.

Minister Nguyen Chi Dung emphasized that important contribution from the business community, domestic and foreign investors was made to gain the above-mentioned results.The trust and share of the business community has added more motivation for the Government of Vietnam to be decisive and operate flexibly to implement the set objectives effectively.

The year 2021 is the first year that Vietnam implements the 10-year socio-economic development strategy for the period of 2021-2030 and the five-year socio-economic development plan for the period of 2021-2025.Accordingly, Vietnam is aiming to effectively focus on the goal of both Covid-19 prevention and socio-economic recovery and development; strongly promoting economic restructuring associated with creating new growth models; improving productivity, quality, efficiency and competitiveness of the economy;accelerating digital transformation and sustainably developing the digital economy, digital society and digital government;attaching importance to high-quality human resources associated with scientific and technological development and innovation;reforming administrative procedures and creating a more open and favorable business investment environment in order to open up capital sources for development investment;promoting foreign affairs activities and international integration.

With the theme “Opportunities and Challenges in a New Normal", the Forum is an opportunity for delegates to exchange, share and propose new initiatives and solutions, creating favorable conditions for entrepreneurs in a new normal state.

Panorama of the Forum.Photo: MPI

The Forum focuses on assessing the world economic situation during the Covid-19 pandemic, analyzing the current situation and proposing solutions to facilitate businesses to restart their business and attract investment flows as well as promoting Vietnamese enterprises todeeply and extensivelyparticipatein the value chain with the commitment and support of foreign investment enterprises.


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