Vietnam Economic Scenario annual forum in 2022

On 14 January 2022, the Ministry of Foreign Affairs in collaboration with Vietnam Economy Journal organized the forum of Vietnam Economic Scenario in 2022. This is an annual important economic event first initiated in 2008 by Vietnam Economy Journal. After 13 times of organizing the forum, it is considered by the Vietnamese and Foreign Direct Investment businesses to be a reliable and effective channel for information sharing and feedback.

Distinguished participants at this year's event included Mr. Nguyen Minh Vu, Deputy Minister of Foreign Affairs and Mr. Nguyen Hong Son, Deputy Chief of the National Economic Department, and Dr. Vu Tien Loc, Chairman of Vietnam International Arbitration Center, among others.

Speaking at his opening remarks, Deputy Minister Nguyen Minh Vu said that from the COVID-19 pandemic, Vietnamese businesses could learn that there were opportunities in such a challenging context like this pandemic, and change management was the key to businesses in this current world.

Deputy Minister Nguyen Minh Vu at his opening remarks.

          Mr. Nguyen Hong Son also shared the viewpoint of the Deputy Minister, and emphasized that COVID-19 was the chance to accelerate the economic development in a green, inclusive and sustainable way. Besides, the government was working continuously on building a digital economy and government for a human-centered, modern and civilized society.

According to the ADB economic expert Nguyen Minh Cuong, in the post-COVID situation, Vietnam had several opportunities for development with the rapid vaccination rate, resulting in its fast economic recovery. In addition, FDI index increased by 9% in 2021 and other positive trade figures proved the country was on the right track for economic development.

Moreover, upon the entering global free trade agreements such as RCEP and CPTPP, Vietnam was considered to have advantages, expressed in increasing income and export revenues. Besides the opportunities, however, there were still challenges that Vietnam had to face, including bad debt, inflation, slow recovery of labour market, and unimproved business environment, etc.

          The forum also had two discussion panels with leaders of relevant ministries and economic experts, as well as local government leaders and businesses. Panelists focused their ideas on the development scenarios of different economic sectors with socio-economic recovery programs in 2022-2023, and the new development motivation for local governments and businesses.

Discussion panels