Vietnam should have policies to cope with global economic and financial
challenges, said experts at a seminar in Hanoi on April 23.
At the seminar, jointly held by the Vietnamese Finance Ministry, the
Asian Development Bank (ADB) and the Korea Asset Management Corporation,
experts from Hong Kong, the Republic of Korea and Japan assessed the
impacts of the global financial crisis on the economies of Asia in
general and Vietnam in particular.
They put
forward recommendations on macro-economic policies for Vietnam in
the immediate future as well as in the middle term, to deal with global
challenges.
They also shared international
experience in the restructuring of State-owned enterprises (SOEs) and
emphasised the role of asset management companies in improving the
capacity and operational efficiency of businesses.
According to Vietnamese Finance Minister Vuong Dinh Hue, despite more
satisfactory prospects in the first quarter of 2012, the world economy
is still in difficult phase, with many risks and challenges.
ADB Vice Chairman Bindu Lohani said countries with strongly
developing domestic markets but not those with huge overseas
investments, will soon escape from the current crisis.
Although Vietnam earns large profits from exports to developed
countries, the country still needs to pay more attention to domestic and
regional demand, he said.
The restructuring of
SOEs is also one of the key measures helping Vietnam overcome
financial crises, Lohani said, adding that the ADB is joining the
Vietnamese Government’s efforts in building strategies to reform SOEs,
especially small and medium businesses.
He also
stressed that Vietnam should base its economy on domestic resources
and have suitable financial tools to implement reforms.
Participants at the seminar said that the satisfactory developments
of the world economic and financial situation will create new
opportunities and challenges for Vietnam to maintain its
macroeconomic stability and economic growth.
In
the first quarter of this year, the Vietnamese economy saw satisfactory
signals such as a reduced consumption index, stable foreign exchange
market, increased exports and a trade surplus of 224 million USD.
ABD forecasts that Vietnam ’s economic growth will stand at 5.7 percent this year and be more than 6 percent in 2013.-VNA