THE SOCIALIST REPUBLIC OF VIET NAM
Government News
East Asia and ASEAN join efforts to survive economic turmoil
(Chinhphu.vn) – A seminar, jointly hosted by the Economic Research Institute for ASEAN and East Asia (ERIA) and the Central Institute for Economic Management (CIEM) today, discussed impacts of the global economic crunch on Asian economic and the role of investment in the region’s economic recovery.
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Promoting production and domestic markets helps to reverse the economic downturn |
Mr. Nishimura, Director of ERIA, urged East Asian countries and ASEAN members to find out effective solutions to minimize impacts of the crisis, so as to speed up the economic recovery.
Many scholars agreed that the optimal solution for Asian economies is to promote their integration into the region and the world.
It is also necessary to fully exploit domestic markets and the East Asia-ASEAN region.
Takeshi Hachimura, an expert from the Japan International Cooperation Agency, emphasized the need to stabilize the financial sector, especially liquidity which is very important to financial and monetary organizations as it helps build up market confidence.
He also underlined the need to keep a close watch on risk management.
According to Dr. Zhang Yunling, director of the international research department under the Chinese Academy of Social Sciences, Việt Nam, Singapore and Taiwan (China) would continue to achieve economic growth thanks to their stimulus packages and investment support policies.
By Hoàng Nguyên