International economic and financial organisations say they believe in Vietnam ’s development prospects in the medium and long-term.
At the 2009 International Conference on Vietnam’s External Economy, which concluded in Hanoi on March 18, representatives from the HSBC, Asia Development Bank (ADB) and the World Bank (WB) said that policies currently being implemented by the Vietnamese government demonstrate the country’s determination to fight off consequences of the global economic crisis.
The government’s aggressive and timely measures have helped the Vietnamese economy avoid a collapse, they said, adding that the country has only suffered an economic decline, and not a recession.
According to ADB and WB leaders, 2009 will not be as bad for Vietnam as much of the rest of the world.
However, attendees also put forth a number of recommendations for the Vietnamese government in the short-term, suggesting continued efforts be made in terms of economic and financial reform, corruption prevention and human resource training.
Sharing the views of the conference’s participants, Deputy Prime Minister and Foreign Minister Pham Gia Khiem said that in order to narrow development gaps with other countries, especially regarding knowledge and technology, Vietnam has adjusted its strategy from development relying on natural resources to high-quality human resource-based development.
That is why the Vietnamese government has maintained its proactive position on developing human resources and technology as its leading national policy, Khiem affirmed.
Additionally, Vietnam is implementing breakthrough measures on building a market-oriented economic structure, particularly with reforms in State-owned enterprises, finance and banking, and administrative procedures, to maximise its position among regional and global economies.
To strengthen international economic integration, the country is also carrying out an overall integration strategy, targeting the quality and depth of the integration process, harmonising complicated relationships, and pursuing active involvement in the development of global policies.
While expressing his belief that Vietnam has the competence and capability to become a modern, industrial country by 2020, Deputy PM Khiem confirmed that the Vietnamese government will create more favourable conditions for foreign investors to do business in the country.