SOCIO-ECONOMIC RECOVERY OF VIETNAM IN POST-COVID-19 CLIMATE – CURRENT SITUATIONS AND POLICY ISSUES

On August 7, 2023, the University of Social Sciences and Humanities, Vietnam National University Ho Chi Minh City, in collaboration with the Vietnam Sociological Association (VSA) held the conference "Socio-economic Recovery of Vietnam in Post-COVID-19 Climate – Current Situations and Policy Issues." The conference set out to shed light on the challenges faced by Vietnam in the aftermath of the global pandemic and discuss viable policy solutions to tackle them.

The conference, held in Da Nang City, was chaired by a panel of experts including Prof. Dr. Bui The Cuong, Assoc. Prof. Dr. Nguyen Thi Kim Hoa, Assoc. Prof. Dr. Nguyen Thi Hong Xoan, and Assoc. Prof. Dr. Dang Anh Tuyet. Among the attendees was Dr. Tran Dinh Lam, Director of International Cooperation Program of the Center for Vietnam and Southeast Asian Studies.

During the conference, Dr. Lam argued that the current economic model, which heavily relies on producing goods and services for developed countries, left the nation vulnerable to external shocks and fluctuations in global demand. He suggested that the government should prioritize policies that promote diversification and reduce dependence on foreign markets. By encouraging the development of domestic industries and fostering trade relationships with emerging markets, the nation could achieve greater economic independence and stability.

Furthermore, Dr. Lam emphasized the need to support and empower local businesses. He believed that by providing incentives and creating a favorable business environment, the government could motivate entrepreneurs to invest in and develop local industries. This approach would not only strengthen the domestic business ecosystem but also create employment opportunities and reduce the reliance on foreign companies for job creation.

To achieve these goals, Dr. Lam proposed the allocation of resources towards the development of internal resources and capabilities. He suggested investing in education and skills training programs to enhance the knowledge and expertise of the workforce. This would allow Vietnam to foster innovation, entrepreneurship, and the growth of local industries.

In addition, Dr. Lam highlighted the importance of avoiding centralization in major cities and promoting regional development. He argued that by providing support and infrastructure to smaller towns and rural areas, the government could create a more balanced and inclusive economy. Strain on major cities would be reduced. Local communities would be empowered. Economic growth in previously neglected regions would be stimulated.

The conference provided a platform for exchanging ideas and exploring innovative solutions for Vietnam's socio-economic revival. As the nation progresses towards a brighter future, the key points raised in the conference will serve as a guidepost, steering Vietnam's post-pandemic recovery efforts towards sustainable growth, inclusivity, and resilience.

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