Vietnam's forum discusses recovery, development amid COVID-19

September 30, 2020

A forum discussing Vietnam's opportunities to recover and develop amid the COVID-19 pandemic opened here on Tuesday with the virtual and physical participation of representatives of the local government, Vietnam's development partners, academia and business sectors.

The third Vietnam Reform and Development Forum, themed "Vietnam: Actions for Making Growth Recovery Inclusive and Sustainable in the COVID-19 Era", was jointly held by the Vietnamese Ministry of Planning and Investment and the World Bank in Vietnam.

In his opening remarks, Vietnamese Minister of Planning and Investment Nguyen Chi Dung said the country will focus on solutions to spur growth towards sustainability amidst the impact of COVID-19 during the 2021-2025 period.

He briefed the forum on achievements Vietnam has recorded in epidemic control and economic development, with a trade surplus of about 12 billion U.S. dollars, positive gross domestic product (GDP) growth and foreign direct investment (FDI) of nearly 20 billion U.S. dollars, as of August.

In a virtual presentation, Victoria Kwakwa, World Bank's Vice President for East Asia Pacific, said Vietnam continues to perform well even in the pandemic on a range of indicators, including trade, growth and human capital.

However, Vietnam's participation in global and regional value chains remained limited, Kwakwa said, adding that the country needs to further improve productivity.

Comprising two sessions including "COVID-19 and Vietnam's actions to seize opportunities and move up the global value chain" and "digital transformation and structural change towards inclusiveness and sustainability", the forum also saw the discussion on issues related to Vietnam's economic reform and the country's socio-economic development strategies in the future.