Participants in a plenary session of the Vietnam Economic Forum 2021 on December 5 (Photo: VNA) The event was alsoconnected with localities nationwide and some places in the US, France, andThailand via videoconference.
In his opening remarks,Chairman Hue emphasised that to cope with the COVID-19 pandemic and supportsocio-economic development over the last two years, Vietnam has applied fiscaland monetary policies and other macro-policies in a relatively uniform manner. Theparliament has also issued resolutions, legal frameworks, socio-economicdevelopment plans, and those on financial - budgetary affairs, public debt,public investment, and economic restructuring for 2021 - 2025.
The forum was a chance for the NA andrelevant agencies to listen to proposals from domestic and foreign experts,development partners, legislators, people, and businesses to help withsocio-economic recovery and sustainable development, towards promotinginnovation, green growth, and digital transformation.
At the event’s plenary session,participants gained an overview of the global economic situation amid thepandemic and put forth several policy recommendations for Vietnam to boostrecovery and sustainable development.
Dr Can Van Luc, ChiefEconomist at the Joint Stock Commercial Bank for Investment and Development ofVietnam (BIDV) and member of the National Financial and Monetary Policy AdvisoryCouncil, pointed out that the pandemic has taken a heavy toll on the country’seconomy and society, especially in 2021. Without special aid programmes andpackages, Vietnam may miss opportunities and lag behind.
International experienceshowed that a country should strongly invest in healthcare infrastructure and expandthe Government guarantee to corporate loans, particularly those of small- andmedium-sized enterprises, he said, suggesting that an aid package be dividedinto the three phases of beginning, acceleration, and conclusion.
Nguyen Minh Cuong, ChiefEconomist at the Asian Development Bank (ADB) in Vietnam, said the countryposted the fastest growth rate in Southeast Asia in 2020, but the fourth waveof COVID-19 outbreaks has severely affected its economic growth, and theeconomy is forecast to contract sharpy this year.
However, the medium- andlong-term economic outlook remains positive, he noted.
Cuong held that support packagesshould prioritise short-term solutions assisting businesses and workers;classify and identify appropriate targets for short, medium, and long terms;and increase cooperation with international partners in health care andeconomic recovery./.
VNA
