The fourth economic forum is organized by the Party Central Committee’s Economic Commission and the Government with the participation of the HCM City People’s Committee.

The theme of this year’s forum is building an independent, self-reliant economy in association with deep economic integration in the new normal. 

This is the first time the event is being organized in HCM City (the previous three forums were held in Hanoi). There will be three thematic seminars, one plenary session and a high-level policy dialogue.

Nguyen Thanh Phong, deputy head of the Central Economic Commission, said the Covid-19 pandemic has posed many problems for the economy that need to be settled. At the same time, it has opened new development orientations with the goal of coping with the pandemic and stabilizing the macro economy, thus promoting growth and ensuring people’s lives.

In such conditions, it is necessary to implement restructuring of the economy and renovate the growth model so as to lay down a foundation for the sustainable development of the country in the medium and long term.

One of the important topics to be discussed at the forum is the development of the capital market and real estate market in the context of hot real estate news.

Explaining the decision to choose this topic, Nguyen Tu Anh, head of the General Economic Department of the Central Economic Commission, said in the current conditions, in order to integrate into the world, it’s necessary to consolidate the internal capacity of the economy to become more independent and self-reliant.  

This internal strength includes capital, real estate, and labor, important factors which, if used effectively, will help to better withstand external shocks.

According to Anh, the world’s economy is bearing two shocks, including one caused by Covid and the other from geopolitical conflict.

The supply chain disruption, caused by the conflict, plus the effects of the pandemic, have caused prices of essential goods such as grain, steel, coal and petrol to increase, which has put pressure on inflation.

Regarding supply chain diversification, Vu Hai An, head of the Department of International Economics and Integration, said the supply chain disruption will continue and there will be unpredictable developments affecting all aspects of life. The lack of goods and higher costs will place a heavy burden on people. Meanwhile, businesses’ profits will erode and Vietnam’s exports will be impacted.

Tran Chung