New forum on reform and development to be kicked off in December

After intensive discussions, the plan to organise the Vietnam Reform and Development Forum 2018 has almost been fixed, with the date expected to be December 5, 2018, at Melia Hanoi Hotel.

The first-ever edition of this forum on reform and development will help Vietnam formulate its new development vision

Co-organised by the World Bank and the Ministry of Planning and Investment (MPI), the event, themed “New vision and new drives in a new development era,”will collect ideas and proposals from domestic and foreign experts, as well as leaders from international organisations and businesses. The proposals will serve as valuable inputs for the government to outline its new development vision and actions in the context of Industry 4.0.

In addition, with the new development vision, the government will look for new growth momentum for the country based on innovation and renewal, with a focus on the development of the private sector.

Thanks to the government’s pro-business policies, the number of newly-established enterprises has been growing, from 110,000 registered at $38.74 billion in 2016 to 127,000 ($56.34 billion) last year. It is expected that a record number of 130,000 enterprises will be established this year.

The government last week reported to the National Assembly that the ratio of private sector investment in the GDP, an important part of economic growth, is expected to climb to 42.4 per cent this year. The ratio is estimated to be 40.8 per cent in the 2016-2018 period, which is higher than the 38.3 per cent in 2011-2015.

“The forum will focus on discussing obstacles and technological gaps between Vietnam and other nations and Industry 4.0 requirements, while analysing the country’s policies for innovation and scientific-technological development in the time to come,” said an MPI document on the preparation of the forum.

In addition, the event will also see the launch of Vinanomics, a booklet about Vietnam’s economic policy framework. The book, compiled by the World Bank, the MPI, as well as domestic and international experts, will provide updates about Vietnam’s socioeconomic development policies, “showing the strong will and determination of the Party and the state to effectively build up a facilitating, action-oriented, and pro-business and pro-people government with integrity, in service of the country’s furthered doi moi and the attraction of more resources for further development.”

The forum will be chaired by Prime Minister Nguyen Xuan Phuc, Minister of Planning and Investment Nguyen Chi Dung, and Ousmane Dione, country director for the World Bank in Vietnam. Participants will also include representatives of the National Assembly, the Central Party Economic Commission, ministries, agencies, provincial representatives, development partners, domestic and international experts, scholars, as well as foreign enterprises and investors.

Unlike the annual Vietnam Development Forum organised every December, which concentrates on the policy dialogue between the government and development partners and donors, this annual national-level forum is solely focused on reform and development issues.

After being organised this year, the forum will be organised again in 2019, 2020, and 2021.