The forum is of great significance to short-term and long-term development as it focuses on infrastructure development, human resources, the financial market and sustainable development in line with environmental protection.

On the theme “Maintaining Economic Growth,” the second Vietnam Economic Forum opened in Hanoi on September 19.

At the forum, deputy Prime Minister Nguyen Sinh Hung emphasised that following the success of the first forum held in Ho Chi Minh City on April 2007, organising the second forum shows the strong determination of the Government and investors to overcome difficulties to achieve rapid and sustainable growth in the medium-and long-term.

Mr Hung said the world economic slow down and oil and food price rises affect the growth rates of regional countries, including Vietnam. To limit negative impacts on the economy, the Vietnamese Government gave priority to curbing inflation and maintaining the macro-economy with a view to achieving rapid and sustainable growth in both medium and long-term. The Government has implemented many measures to manage monetary policy, control the trade deficit, cut public expense and ensure social security for the poor. These measures have been put in place.

Participants in the forum shared their experiences in devising measures to control these problems.

At the first session “Choosing finance for development”, Minister of Finance Vu Van Ninh affirmed that the Vietnamese Government is fully aware that it is still in the initial phase of inflation control and macro-economic stabilization. Meeting final targets without disrupting the economy will require suitable policies.

Mr Ninh said that from now to the end of this year the country will focus on key financial measures, including tightening monetary policies, strengthening supervision of the banking system, including financial sanctions in order to avoid taking unnecessary risks and improving real estate credit and overall administrative reform.

Source: VOV