On the morning of April 25, 2022, National Economics University held a National Scientific Conference: Vietnam’s Economic Overview 2021 and Outlook for 2022: “Stabilizing Macro-economy in the context of Covid-19”.
Attending the workshop, there were Dr. Nguyen Duc Hien – Deputy Head of the Central Economic Commission; Mr. Vu Tien Loc – Chairman of Vietnam Center for International Finance; Mr. Aedan Puleston – Second Secretary, Australian Embassy; Ms. Meredith Metzler – Economic Department, US Embassy; Mr. Po Hsun Tai – Secretary, Economic Department, Taipei Economic and Cultural Office in Vietnam; Ms. Sone Chan – Economic and Trade Counselor, Lao Embassy in Hanoi. On the side of National Economics University, there were Prof. Dr. Pham Hong Chuong – NEU President; Assoc. Prof. Dr. Bui Duc Tho – Secretary of the Party Committee, Chairman of the NEU Council; Prof. Dr. Hoang Van Cuong – Vice President; Assoc. Prof. Dr. Bui Huy Nhuong – President; Prof. Dr. To Trung Thanh – Head of Scientific Management Department; with leaders of departments, faculties; domestic and foreign scholars.
The workshop discussed and clarified the international context and its impacts on Vietnam’s economy, and analyzed the opportunities and challenges for Vietnam’s economy in 2022. From that, experts proposed policy recommendations in economic management in 2022 in order to stabilize the macro-economy and be financially sound in the context of the Covid-19 pandemic.
Assoc. Prof. Dr. To Trung Thanh – Head of the Department of Scientific Management, National Economics University said that the economic growth in 2021 declined sharply to 2.58%, the lowest in the last 2 decades. The main cause was the severe recession in the third quarter with the spread of the Delta mutation, which almost nullified the government’s efforts to prevent the disease. In addition, policies are still ineffective and inconsistent in many regions.
Mr. Francois Painchaud said that over the past time, Vietnam has carried out fiscal policies, external relations, and financial stability. The program of socio-economic recovery and development was promptly implemented to create a driving force for economic recovery.
However, the Vietnamese economy is also affected by a number of factors, in which the impact of the conflict in Ukraine on Vietnam caused the limitation of direct trade and financial connections. On the other hand, with the accelerated implementation of the Socio-economic Development and Recovery Program, Vietnam’s economy is forecasted to continue to recover strongly; Inflation is expected to pick up in the short term.
According to experts, with the new support package to recover the economy, Vietnam’s economic growth can reach the target of 6-6,5%. However, instability risks still exist due to complicated developments of the Covid-19 pandemic, the escalation of world political instability, and the increase in oil prices.Regarding social security, the social security packages for the affected people need to be continued to maintain, expand the beneficiaries and focus on the group of workers in the informal sector