Vietnam Socio-economic Forum 2023 opens

The event, themed "Reinforcing internal capacity, generating drivers for growth and sustainable development", drew the participation of some 450 delegates.

In his remarks, Hue highlighted that a wide range of initiatives were raised at the NA's annual event, helping competent authorities outline and complete rational mechanisms and policies with a view to removing bottlenecks and developing the economy.

With the sound policies put in place, coupled with determination and leadership from the Party, National Assembly, and Government, Vietnam is able to navigate headwinds and attain important results, he said, elaborating that the Vietnamese economy remains a silver lining in the world economy, with major balances ensured, currency sovereign credit ratings improved, bad debt under control, and better investor confidence established.

However, Hue pointed his finger to several pitfalls which, he said, could hamper the economic development, including a fall in exports, limitations in domestic production capacity, sluggish disbursement of public investment, and struggling labour market.

Suitable response in the short term and strategic solutions in the long term should be put in place to handle these formidable challenges, he stressed, expressing his hope that the delegates will work to give forecast to global and regional economic and financial developments and challenges for the Vietnamese economy in 2023, 2024 and the coming years; and identify the socio-economic situation and bottlenecks and resilience of the economy in 2023, 2024, and during the 2021- 2025 period.

Additionally, practical solutions to creating a leverage for economic growth are welcomed, he added.

(Source: VNA)