Vietnam was hailed by many international organizations for its effective solutions to cope with the global economic turmoil. At the ongoing CG Meeting 2009 in Dak Lak, they posed many recommendations to help the country further maintain its economic growth, macro-economic stability and social security.
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The Informal Mid-year Consultative Group Meeting for Vietnam opens in Buon Ma Thuot City, June 08
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According to Mr. John Hendra, UN Resident Coordinator, the Vietnamese Government took bold steps to push back the global crisis by adopting three stimulus packages.
He stated that the crisis can create a chance for such countries like Vietnam to consolidate their long-term prospect of development. However, suggested the UN official, Vietnam should vigorously speed up infrastructure development, administrative reforms, State-owned enterprise (SOEs) equitization, healthcare improvement and tertiary education development in order to sharpen its competitiveness.
Mr. John Hendra also emphasized the need of harmonizing social protection programs and developing low carbon technologies, so that Vietnam can become an industrialize country with a sustainable environment.
Meanwhile, representatives of the International Monetary Fund (IMF) highly spoke of Vietnam’s adaptability to the global financial crisis. The Fund suggested that banking system should be closely monitored and the State should increase its capacity in timely discovering banks’ implicit credit risks.
Another international financial institution, Asian Development Bank (ADB), called the Vietnamese Government’s attraction to controlling budget deficit and current accounts.
To recover people’s confidence in the economy, according to ADB, it is necessary to continue economic reforms and raise Vietnam's competitiveness through improving public management and SOEs’ performance.
At the Meeting, representatives of the UN and ADB pledged to support the Government’s efforts to overcome current difficulties as well as fulfill all Millennium Development Goals./.