MIL-OSI Asia-Pac: Conference seeks to revive economy with long-term measures

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Source: Socialist Republic of Vietnam

Speaking at the event, Minister of Planning and Investment Nguyen Chi Dung said the Government has issued a number of corporate support policies and measures, but most of them are short-term while there is not any comprehensive or long-term programme to gradually recover the economy and spur development after the pandemic is put under control.

The MPI’s programme aims to help Vietnam avoid missing opportunities when entering the new normal, Dung said.

Deputy Minister of Planning and Investment Tran Quoc Phuong said Vietnam needs to learn from lessons in pandemic prevention and control to revive the economy, focusing on promising fields such as processing industry, logistics and tourism to make breakthroughs.

He suggested combining both short and long-term goals, improving the capacity of workers and providing support for firms based on order of importance and priority.

The ministry also wished to collect feedback to develop green economy and step up the disbursement of public investment capital, Phuong said.

He outlined eight categories of measures, including controlling the pandemic, improving the capacity of medical system, maintaining macro-economic stability, controlling inflation, continuing with fiscal and monetary policies, and ensuring national financial safety.

Others include stepping up administrative reform, stimulating domestic consumption, facilitating digital transformation, attracting foreign investment, and improving workforce quality to meet requirements of the fourth industrial revolution.

Country Director of the Asian Development Bank in Vietnam Andrew Jeffries said Vietnam’s major trade partners are quickly recovering while domestic vaccination coverage is increasing, thus contributing to promoting growth.

He proposed Vietnam actively tap free trade agreements to boost exports, join the global supply chain more deeply. At the same time, the country should re-open in a safely manner, ensure healthy relations between banks and enterprises and take caution with bad debts.

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