The plenary session of the two-day 18th World Economic Forum (WEF) on East Asia officially took place today in Seoul, attracting leaders from numerous countries, business enterprises, international and regional organizations.
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Deputy PM Hoang Trung Hai addresses the Forum
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Vietnamese Deputy PM Hoang Trung Hai delivered an address on opportunities and challenges of the financial crisis, post-crisis development model for Asia, regional socio-security issues, and new arising trends in the region and the world.
Vietnam’s messages
Amid the global and domestic difficulties, Vietnam is making every effort to curb recession, stabilize macro-economy, speed up reforms, lay the foundation for sustainable growth, and strengthen confidence of foreign investors, stated the Deputy PM.
According to the Vietnamese speaker, in the time to come, export-based growth remains the major driving force for Asia’s development, but it needs to be adapted to the post-crisis economic context.
Economies in the region should pay greater attention to improving export competitiveness, he added.
The development of green economies was also underscored by the Vietnamese Deputy PM as a measure to boost up sustainable growth.
He took the occasion to inform that Vietnam has been adopting many drastic measures to stimulate investment, expand domestic market and guarantee social security.
“This is an opportunity for Vietnam to speed up reforms, build the market-oriented economy, and restructure the economy for better quality, efficiency and competitiveness through upgrading infrastructure, giving priorities to hi-tech industries, wisely using natural resources and energies and protecting environment,” said Deputy PM Hai.
The WEF on East Asia 2009 was held in the context of deep global recession. Delegates agreed that despite heavy impacts, Asian countries have better conditions to overcome their difficulties if they can make full use of big economic stimulation packages, potential consumption power, and lessons drawn out from the previous Asian financial crisis.
Many speakers urged Asian countries to review driving forces of their development model and seek new ones suitable to the new context.
As one of few Asian countries enjoying positive growth rate in the first quarter, Vietnam attracted attention of many participants who want to know about the country’s experience of economic stimulation and reversing the economic downturn.