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| Delegates attending the Plenary Session - high-level discussion with the theme "Enhancing endogenous capacity, creating momentum for growth and sustainable development". (Source: National Assembly) |
Speaking at the plenary session, Dr. Can Van Luc, Chief Economist of BIDV, Member of the National Financial and Monetary Policy Advisory Council, said that since the 13th National Party Congress, the world and regional situation has undergone rapid, complex, and unpredictable developments. New difficulties and challenges have emerged more than opportunities, and are more severe than forecasts, as well as compared to recent terms. These include the Russia-Ukraine conflict, epidemics (especially the Covid-19 pandemic), and natural disasters (erratic, harsh climate and more natural disasters).
This period has made the world and Vietnam's socio-economy more unusual, unstable and risky - what the business world still calls the VUCA world (volatile, uncertain, complex and ambiguous).
With the consensus and high determination of the entire political system, the leadership of the Party, the support of the National Assembly, the determination of the Government and the Prime Minister, many drastic and large-scale policies and solutions, including unprecedented ones, have been issued by competent authorities, along with the establishment and consolidation of the organization and apparatus for direction and implementation. Therefore, Vietnam has basically steadfastly overcome difficulties and challenges and achieved many important and quite comprehensive results, recognized internationally and domestically.
According to Dr. Can Van Luc, the forecasted growth of Gross Domestic Product (GDP) in 2023 according to the baseline scenario is 5.2-5.5%. With the negative scenario that the world economy is in a more severe recession, taking advantage of fewer opportunities from new growth drivers, the forecasted growth is 4.4-4.5%.
"However, with a positive scenario where the world economy recovers soon and exploits new growth drivers (such as digital transformation, promoting regional connectivity with the promotion of the two main drivers, Hanoi and Ho Chi Minh City), growth could reach 5.5-6%," BIDV's chief economist emphasized.
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| Overview of the Session. (Photo: GT) |
Also at the plenary session, Director of the Central Institute for Economic Management, Dr. Tran Thi Hong Minh, said that the economic restructuring process in the 2021-2023 period has brought about some positive results.
In particular, the economic structure has significantly shifted towards digitalization, greening, application of scientific and technological achievements and innovation. Restructuring some key areas such as the system of credit institutions, state budget and public investment has achieved important results, contributing to stabilizing the macro economy and maintaining growth momentum. Economic space has been expanded, creating new, more seamless and sustainable driving forces.
The issuance and implementation of plans (national, sectoral, regional) associated with the improvement of institutions and regional linkage policies have created conditions to promote the movement of resources and promote the advantages of each region and locality. Markets continue to develop in a more effective and sustainable direction....
Analyzing the current context and situation, Dr. Tran Thi Hong Minh stated that Vietnam is a developing economy, with a desire to develop with a vision of 2045 and is located in a dynamically developing Asia-Pacific region. Therefore, maintaining macroeconomic stability, ensuring major balances and social security are indispensable foundations, but we must still strive to achieve the highest goals, including promoting economic growth with quality and sustainability.
Dr. Tran Thi Hong Minh affirmed: "The positive point is that there are foundations for innovative thinking. However, realizing those thoughts requires a more thorough and comprehensive assessment of the internal strength of the economy. That internal strength is not limited to the amount of money, gold and other assets that Vietnamese people are holding, but it is necessary to exploit institutional resources."
At the plenary session, delegates agreed that in 2020, the Covid-19 pandemic broke out and raged fiercely. Immediately after that, the National Assembly concretized the Party's direction with unprecedented legislative initiatives. After a series of drastic decisions by the National Assembly and the Government, in 2022, Vietnam's economy had impressive growth.
GDP grew by 8.02%, the highest in 12 years, double the inflation rate. High growth and low inflation are considered a miracle in the context of high world inflation. Notably, Vietnam has become the 4th largest economy in ASEAN and the 40th in the world, with international trade in the Top 20 globally.
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| National Assembly Chairman Vuong Dinh Hue delivers closing remarks at the 2023 Socio-Economic Forum. (Source: National Assembly) |
* In his closing speech at the 2023 Socio-Economic Forum, National Assembly Chairman Vuong Dinh Hue said that after a day of active, serious and responsible work, the 2023 Vietnam Socio-Economic Forum had completed all the contents of the proposed program, deeply attracting public opinion, people and the domestic and foreign business community, as well as central and local press agencies.
According to the Organizing Committee, about 450 delegates attended the event in person at the National Convention Center. The forum was also connected online with 6 academies and universities with more than 1,000 lecturers, students and pupils directly following.
At the forum, there were 7 presentations by speakers at plenary sessions and thematic discussion sessions, along with more than 40 articles by organizations, experts and scientists. At the same time, there were more than 40 opinions from speakers, scientists, businesses, and domestic and foreign delegates participating in interactive exchanges and discussions.
Acknowledging the results of the Forum, the National Assembly Chairman said that the Forum spent a lot of time focusing on topical, short-term socio-economic issues while approaching major, comprehensive issues, new trends shaping the world, new driving forces and directions for growth and sustainable development of Vietnam.
"In the short, medium or long term, Vietnam needs to focus on maximizing its internal strength, in which it emphasizes and values endogenous capacity; effectively exploiting external forces, creating new growth drivers, which are the 'key' to adapting, coping and developing in the new context of many fluctuations and increasing risks. These are extremely important contents in the Resolution of the 13th National Congress of the Party and are also consistent messages, closely linked to the theme of today's Forum," the National Assembly Chairman emphasized.
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![[Photo] National Assembly Chairman Tran Thanh Man visits and works with National Assembly Committees and People's Representative Newspaper](https://vstatic.vietnam.vn/vietnam/resource/IMAGE/2025/2/5/2f7532ee3d094f488f4da7a860ef04ed)
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