WEBINAR ''ECONOMIC REFORMS OF INDIA AND VIETNAM''
, 09/02/2022 13:02
On December 17th, 2021, the Consulate General of India in HCMC organized a webinar “Economic Reforms of India and Vietnam”. The webinar was broadcast via Zoom with the participation of two speakers from Vietnam and India, Dr. Tran Dinh Lam - Director of CVSEAS, and Dr. Prasenjit Bose - Independent Economist based in Kolkata, India.
Intending to enhance knowledge in the fields of strategic affairs, the webinar attracted the attention of more than 140 students from universities in HCMC and southern provinces. The webinar was within the framework of “knowledge series on strategic affairs between India - Vietnam”.
Speaking at the opening ceremony, Mr. Madan Mohan Sethi - Consul General of India in HCMC expressed his gratitude to the speakers and the participants attending the event. He said that this occasion would let experts and researchers exchange and share their practical experiences. In particular, he emphasized that, in the current situation, embracing and acquiring lessons through different periods would contribute to the development and promote the partnership of the two countries.
In the first session of the webinar, Mr. Prasenjit Bose presented the Economic Liberalization Reforms in India in 1991. He said, after 30 years of implementing comprehensive reforms, India had gained great achievements in various fields, affirming the enhancement of India’s position, role, and prestige. However, he claimed that while macroeconomic performance might be improved, it was certainly not sufficient to ensure better human development outcomes, especially in education, healthcare, and employment opportunities. The faster economic growth, he stated, would not solve the core problem of economic development while the poverty rate was high, the gap between the rich and the poor was quite large and the human resource qualification was not commensurate with the economic growth, etc.
In the presentation, Dr. Tran Dinh Lam gave an overview of Vietnam’s economic situation and orientation before the reform period with the centrally planned economy and having no free market. Vietnam’s economic ascent began with the launch of Doi Moi reform, shifting Vietnam to a more market-oriented economy. The economic and human development indicators had both increased over the years, contributing significantly to the process of integration and development of Vietnam. In 2020, although the growth indicators were still at stable levels, Vietnam faced plenty of difficulties due to Covid - 19 pandemic. Dr. Lam pointed out the struggles in the infrastructure system, the bureaucracy in government agencies, and the inefficiency of state-owned enterprises, etc. In particular, he emphasized the biggest obstacle in the integration process of Vietnam lied in education and human resources. He said the education system in Vietnam should improve the quality and provide support to students. Besides, young people should have a progressive manner, attempt and put their effort towards their goals, contributing to the development of the country. Since the Covid-19 pandemic has caused a significant impact on Vietnam, he said, the government should provide their support on tax solutions and simplifying administrative procedures, which would bring great benefits in the economic recovery and development of Vietnam.
In addition to the sharing of the speakers, the delegates and participants received plenty of useful knowledge through the 20-minute Q&A session. The webinar brought a lot of useful knowledge and experiences, contributing to consolidating and maintaining the good relationship between India and Vietnam.
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