Vietnam should have policies to cope with global economic and financialchallenges, said experts at a seminar in Hanoi on April 23.
At the seminar, jointly held by the Vietnamese Finance Ministry, theAsian Development Bank (ADB) and the Korea Asset Management Corporation,experts from Hong Kong, the Republic of Korea and Japan assessed theimpacts of the global financial crisis on the economies of Asia ingeneral and Vietnam in particular.
They putforward recommendations on macro-economic policies for Vietnam inthe immediate future as well as in the middle term, to deal with globalchallenges.
They also shared internationalexperience in the restructuring of State-owned enterprises (SOEs) andemphasised the role of asset management companies in improving thecapacity and operational efficiency of businesses.
According to Vietnamese Finance Minister Vuong Dinh Hue, despite moresatisfactory prospects in the first quarter of 2012, the world economyis still in difficult phase, with many risks and challenges.
ADB Vice Chairman Bindu Lohani said countries with stronglydeveloping domestic markets but not those with huge overseasinvestments, will soon escape from the current crisis.
Although Vietnam earns large profits from exports to developedcountries, the country still needs to pay more attention to domestic andregional demand, he said.
The restructuring ofSOEs is also one of the key measures helping Vietnam overcomefinancial crises, Lohani said, adding that the ADB is joining theVietnamese Government’s efforts in building strategies to reform SOEs,especially small and medium businesses.
He alsostressed that Vietnam should base its economy on domestic resourcesand have suitable financial tools to implement reforms.
Participants at the seminar said that the satisfactory developmentsof the world economic and financial situation will create newopportunities and challenges for Vietnam to maintain itsmacroeconomic stability and economic growth.
Inthe first quarter of this year, the Vietnamese economy saw satisfactorysignals such as a reduced consumption index, stable foreign exchangemarket, 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
At the seminar, jointly held by the Vietnamese Finance Ministry, theAsian Development Bank (ADB) and the Korea Asset Management Corporation,experts from Hong Kong, the Republic of Korea and Japan assessed theimpacts of the global financial crisis on the economies of Asia ingeneral and Vietnam in particular.
They putforward recommendations on macro-economic policies for Vietnam inthe immediate future as well as in the middle term, to deal with globalchallenges.
They also shared internationalexperience in the restructuring of State-owned enterprises (SOEs) andemphasised the role of asset management companies in improving thecapacity and operational efficiency of businesses.
According to Vietnamese Finance Minister Vuong Dinh Hue, despite moresatisfactory prospects in the first quarter of 2012, the world economyis still in difficult phase, with many risks and challenges.
ADB Vice Chairman Bindu Lohani said countries with stronglydeveloping domestic markets but not those with huge overseasinvestments, will soon escape from the current crisis.
Although Vietnam earns large profits from exports to developedcountries, the country still needs to pay more attention to domestic andregional demand, he said.
The restructuring ofSOEs is also one of the key measures helping Vietnam overcomefinancial crises, Lohani said, adding that the ADB is joining theVietnamese Government’s efforts in building strategies to reform SOEs,especially small and medium businesses.
He alsostressed that Vietnam should base its economy on domestic resourcesand have suitable financial tools to implement reforms.
Participants at the seminar said that the satisfactory developmentsof the world economic and financial situation will create newopportunities and challenges for Vietnam to maintain itsmacroeconomic stability and economic growth.
Inthe first quarter of this year, the Vietnamese economy saw satisfactorysignals such as a reduced consumption index, stable foreign exchangemarket, 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
