A number of domestic and foreign economists gathered in Hanoi on Dec. 15 to discuss the roles played by the State and industrial policies in the development of East Asia and lessons for Vietnam.

The President of Vietnam’s Social Sciences Academy Professor Do Hoai Nam said that Vietnam is preparing to develop itself further during 2010-2020 with the goal of becoming an industrialised country with incomes at an average level.

According to Professor Ha-Joon Chang from Cambridge University in England, a leading expert on industrial and trade policies and the role of the State, Vietnam will not become a strong country if it continues to rely on labour-intensive and natural resources-consuming industries.

Meanwhile, Professor Fred Nixon from England ’s Manchester University said that Vietnam needs to stablise its macro-economy and regulate short-term financial flows, then appraise the results to ensure its competitive edge and cut out bureaucratic procedures.

The participants agreed that it’s time for Vietnam to export goods that the world actually needs, not just to satisfy demands from developing countries or secondary products. After the 2008-09 global economic crisis, Vietnam needs to examine the role of the State and its industrial policies to help with the country’s development./.