VN Development Forum opens

The Viet Nam Development Forum, themed Ïncreasing productivity-leverage for sustainable development", opens in Ha Noi, December 13, 2017 - Photo: VGP/Quang Hieu

PM Nguyen Xuan Phuc will make a speech at the event. The Minister of Planning and Investment (MPI) and the World Bank Country Director in Viet Nam co-chaired the forum. 

In 2017, Viet Nam’s economic growth may reach 6.7%, said Minister of Planning and Investment Nguyen Chi Dung, adding that the nation’s economy has been mainly attributed to the increase in investment capital flows, low labor costs and natural resource exploitation. 

The fourth industrial revolution may bring a number of opportunities and challenges for Viet Nam, he said, affirming that the improvement of capacity is the key to sustainable development, one the core issues to the nation’s economy. 

The enhancement of labor capacity is playing a more crucial role in the nation’s economy, which contributed to 89% of the GDP growth in 2017, higher than the rates of 66.3% in the 1990-2000 phase and 61.9% on the 2000-2012 period. 

The event is aimed at analyzing the status and barriers of improving capacity in Viet Nam, thus proposing specific solutions to promoting capacity, one of long-term measures for Viet Nam to develop and escape from the middle-income trap. 

By Thuy Dung