Seminar on the economic outlook and policy vision for 2014

Seminar attracted professionals, teachers, students’ attention
The seminar was organized by VNU-University of Economics and Business (UEB) and UEB’s Vietnam Centre for Economic and Policy Research (VEPR) of 6th March 2014.

The seminar attracted many economists such as Dr. Vo Tri Thanh, Dr. Le Quoc Phuong, Dr. Luu Bich Ho, Ms. Pham Chi Lan, Dr. Can Van Luc, etc. with other experts and lecturers of the UEB, VEPR and students who interested in the topic.

Opening the seminar, Assoc.Prof.Dr. Nguyen Hong Son - Rector of UEB said that this event was annually held by UEB and VEPR, aimed to creating a forum for economists, researchers, policymakers to discuss, share their views on economics and economic policy in Vietnam last year, as well as Vietnam's economic prospects next year. He also stressed that the seminar was also a step towards publication of Vietnam Annual Economic Report 2014 upcoming.

Assoc.Prof.Dr. Nguyen Hong Son - Rector of UEB opens the seminar

At the first session of the seminar, Dr. Vo Tri Thanh (Deputy Director of Central Institute for Economic Management) has delivered a presentation on "The world economy from 2012 to 2013: main characteristics and impacts on Vietnam". The presentation emphasized three important points of the world economy as well as Vietnam’s economy at present were "recovery - risk - reform". He said that the world economy was showing recovery signs which seemed to be more reliable although the growth was still moderate. However, there were many risks behind, especially from major and emerging economies.

Dr. Vo Tri Thanh (the right) had a speech at the seminar

In that context, the direction of nations over the world in general and Vietnam in particular was reforming and connecting - integrating. Dr. Vo Tri Thanh also said that although Vietnam’s recent economic reform was set up with strong determination, achievement was restrained; the temporary stability was not tied to the reform and it just was using every effort to make the situation to be "normal "again. From 2014 onwards, he thought that the stability must be going along with the reform, especially reform in the finance - banking sector.

Dr. Nguyen Duc Thanh - Director of VEPR

The next presentation was from Dr. Nguyen Duc Thanh - Director of VEPR on “Looking back on Vietnam economy in 2013 and the economic outlook for 2014”. Basing on the most update data of important macroeconomic variables in 2013, Dr. Nguyen Duc Thanh analyzed trends and gave his remarks about Vietnam’s economy in 2014 and coming years. Accordingly, Dr. Thanh said that in the short-term, there were some increasing indexes; however it was not so optimistic with the short-term measures achieved. The problem at the moment was solving basic matters in the medium and long term.

The seminar continued to get more exchanges of professionals as presentation of Dr. Can Van Luc - Deputy General Manager of Bank for Investment and Development of Vietnam (BIDV) on the result of BIDV research team had implemented for 2014 and discussion of Dr. Le Quoc Phuong - Deputy Director of Industry and Trade Information Center (Ministry of Trade and Industry of the socialist republic of Vietnam). Adding there were ideas of Dr. Nguyen Minh Phong, Dr. Luu Bich Ho, economic expert Pham Chi Lan. Ms. Pham Chi Lan said that we should not  rely too much on the apparently improved indexes, because achievements did not show overview of Vietnam’s economy. Discussing on benefits when Vietnam joins TPP, Ms. Lan expressed the most expectation was economic reform; though predicated index of foreign experts about Vietnam was high, it still too small in comparing with stronger economies.

Professor Pham Chi Lan

Dr. Luu Bich Ho (the left)

After more three hours of exciting discussion, Assoc.Prof.Dr. Nguyen Hong Son summarized main contents which be discussed as: the world economy was in a trends of recovering although including many risks; In that case, Vietnam economy had signs of recovery however it still was "fragile". The world economy was having more sustainable reforms, and in order to taking advantage of that opportunities for recovering of Vietnam economy, Vietnam needed to review and revise policy stability in short term, and focus on long term reforming towards a more sustainable economy...

Closing the seminar, Rector of UEB expressed gratitude to the participants for their attention and  expected to receive further support and active cooperation of researchers on next seminars and projects of UEB.

Do Chiem - Thanh Thuy

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