International Conference on Economic Reforms for Inclusive and Sustainable Growth

On March 24, 2014, the opening ceremony of the international confernce titled “Economic Reforms for Inclusive and Sustainable Growth - International Experience and Lessons of Vietnam” was held in Hanoi. The conference was organized by the Ministry of Foreign Affairs in collaboration with the Vietnam Academy of Social Sciences of Vietnam and Development Programme United Nations Development Programme (UNDP).
Attending and speaking at the opening ceremony, Mr. Pham Binh Minh, Deputy Prime Minister and Minister of Foreign Affairs, summarized a number of socio-economic highlights that Vietnam has made in the renewal process. Accordingly, Vietnam has entered the group of middle-income countries from the underdeveloped one. Due to the negative impact of the financial crisis and global recession, economic growth in 2013 reached 5.4% and expected to reach between 5.8% to 6% in 2014. Beside economic goals, Vietnam especially attaches importance to the development of the social sectors, enabling people to participate in socio-economic development and enjoy the achievements of development.
According to the Deputy Prime Minister, the great strides of Vietnam in nearly 30 years are associated with innovating the thinking of development and exerting to reform two core contents: “Firstly, the centrally planned economy moves toward a market economy. This is essentially strong reform to liberate the productive forces. Secondly, international economic integration, which is actually moving from a closed economy to an open economy and proactive international integration”, Deputy Prime Minister stressed.
Deputy Prime Minister suggested that in the framework of the conference, experts and international scholars will share with Vietnam the new insights, experiences and best practices of  inclusive and sustainable growth in the world, specifically focus on a number of issues such as continuing to promote the role of tectonic development of the state in relation to other actors in the market economy of far-reaching international integration; building a modern economic structure for inclusive and sustainable growth; resolving the relationship between the short -term macroeconomic stability and structural reforms in the medium and long term; the position and role of the new agriculture for inclusive and sustainable growth; things needed to do in the economic trend of multi-layers to engage and enlist the maximum benefits of the value chain and global production networks.
Agreeing with the opinion of the Deputy Prime Minister Pham Binh Minh, Ms. Helen Clark, UNDP Administrator confirmed the achievements of socio-economic progress that Vietnam has got in nearly 30 years are very impressive. Currently, Vietnam is beginning to develop and implement the next steps of the reforming measures and institutional structure to continuously ensure progress in developing and strengthening the capacity for deeper integration with the global economy.
Ms. Helen Clark also pointed a number of areas that Vietnam should consider in reformation to promote inclusive and sustainable growth including implementing measures to improve productivity and quality of agricultural as well as aquacultural production; Strongly upgrading the economy towards sectors with higher value to help Vietnam in establishing new comparative advantages in regional and global economy and creating more good jobs; opening opportunities to access quality and suitable education, having modern system of  social protection; investing to reduce disaster’s risk and adapt to climate change; allocating and managing public resources in a transparent and more accountable way.
The conference closed at noon of March 25, 2014.