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Seminar discusses the economy and challenges for Vietnam
A seminar was held in Hanoi on June 23 to discuss assessments, forecasts and solutions for Vietnamese businesses in the current economic climate.
Addressing the seminar entitled “Economic prospects and challenges faced by Vietnamese businesses in the 2009-2010 period”, the Vice President of the Vietnam Chamber of Commerce and Industry (VCCI), Pham Gia Tuc, said that due to impacts from the economic downturn, the governments of many countries have launched economic stimulus packages. The Vietnamese government has also brought stimulus policies into place to stabilise the domestic economy, subsequently 90 percent of enterprises have maintained stability.
Dr. Dang Xuan Thanh from the Institute of World Economics and Politics presented a report on the global financial crisis and its impact on Vietnam’s economy, emphasizing a sharp decrease in foreign investment capital. Mr. Thanh added that the decrease in the flow of FDI worldwide will continue to affect Vietnam’s FDI in the future. As of February 20, 2009, the number of FDI projects had fallen by 65 percent, with registered capital of just US$1.5 billion, down by 69 percent against the same period last year.
During the seminar, economic analysts had also focused on issues relating to the development of Vietnamese enterprises, the restructuring of the national economy and opportunities for Vietnamese enterprises. The Vietnamese stock market was also high on the agenda due to the economic downturn.
The event was co-organised by the Business Forum Newspaper and the Vietnamese Economic Institute.
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