Master plans, coordinated measures

Associate Professor Doctor Nguyen Van Thao, former Chairman of the Central Theoretical Council, said the COVID-19 pandemic disrupted global supply chains damaging international trade and investment activities, and now countries, economic groups, and businesses worldwide are seeking solutions to recover.

Thao said Vietnamese businesses should seize this opportunity to participate more in global supply chains and international trade and investment activities. 

Vietnam needs master plans and coordinated measures to strengthen external relations and promote cooperation between domestic and foreign businesses in economics, trade, and technology. 

It’s important to fine-tune institutions, laws, and policies, particularly those concerning finance and land, to strengthen administrative reform to create an attractive, open business environment, and to improve human resource quality. 

Nguyen Xuan Thang, Director of the HCM National Academy of Politics (Photo: daibieunhandan.vn)

Nguyen Xuan Thang, Director of the HCM National Academy of Politics, said increasing productivity is the most important way for Vietnam to realize its development targets. 

"Increasing productivity depends on the situation in each locality. One policy will not fit all. Innovation and creativity in both thinking and doing should be promoted in order to deal with rapid changes and move toward a green, circular, digital economy. We need to focus on exploiting human resources, which is the key to development.' said Mr. Thang 

Vietnam has encouraged and helped domestic businesses and producers renew technology and adopt modern production processes and standards to enable Vietnamese products to participate in global supply chains. Vietnam’s stimulus packages have enabled workers to stabilize their lives. 

Tapping local resources 

After two years of pandemic, localities are stepping up efforts to recover by using all available resources. Party Secretary of Quang Ninh province Nguyen Xuan Ky said Quang Ninh is now moving toward green growth and has strengthened administrative reform in order to tap local potential and advantages. It has upgraded local infrastructure and created new corridors for development. 

Phu Yen province is completing its socio-economic recovery and development plan until 2025 with a focus on breakthrough solutions, mechanisms, and policies.

Pham Dai Duong, Party Secretary of Phu Yen province, said:  "We consider the marine economy which includes fishing, tourism, and seaports our spearhead economic sector. The province has a plan for a Bai Goc deep water seaport. We plan to develop offshore wind power projects and strengthen links between the marine economy and national defense. We have also reformed administrative procedures to accelerate tourism development." 

By maximizing its resources and momentum, Vietnam is now turning challenges caused by the pandemic into opportunities for recovery and development.