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By APD writer Alice
Vietnamese Prime Minister Nguyen Xuan Phuc, in his speech delivered at a live-broadcast meeting with businesses on May 9, expressed his hope that Vietnam will have tycoons such as Google, Alphabet and Alibaba in the next 25 years.
Opening his speech, Phuc mentioned Google, Aphabet and Alibaba, saying that 25 years ago, these companies did not appear in the world economic map. He raised a question that by 2045, when Vietnam become a prosperous country as targeted, will the country have any firms named in the world’s top 500?
The Prime Minister wished that businesses will not become discouraged by the Covid-19 and current difficulties, instead, they should try and overcome themselves to achieve success. He offered businesses six suggestions and said that now is a "golden opportunity" for the "spring to rebound" after the pandemic.
The coronavirus-related health crisis has affected every economic aspect, from supply-demand, production-consumption, internal trade-foreign trade, aviation-tourism, technology-intensive to labor-intensive production, oil and gas to automobile manufacturing, developed countries to developing countries, and small to large businesses.
“Then humans will win, no matter how much they lose” he said, quoting Darwin as saying that it is not the strongest that survives; but the species that survives is the one that is able best to adapt and adjust to the changing environment in which it finds itself.
Many countries' economy is in recession which may last for a long time. Many organizations forecast the world economy to worsen this year. IMF predicted the world economic growth will be minus 3% this year. The US will have a negative growth and China will see a record low in growth after 3 decades. ASEAN’s economic growth is forecast to be -0.6% this year.
However, the PM noted that Vietnam now has the highest growth prospects in the Association of Southeast Asian Nations (ASEAN). The country is pursuing the duo target of fighting the pandemic and maintaining economic activities, along with administrative reform and restructuring, so that the fire of growth will soon flare up when the epidemic is well controlled. He informed that Vietnam has basically repelled the Covid-19, with no new cases recorded for 23 consecutive days (by May 9) and zero deaths so far.
Phuc also emphasized that Vietnam has accumulated resources after recent years of growth. It means that the country is not too dependent on the outside and its internal resources are very large. Many markets such as bond and stock see encouraging signals.
The Government leader called for greater efforts to restart the national economy with the aim of achieving a GDP growth rate of over 5 percent and keeping inflation under 4 percent this year.
To that end, the PM ordered focusing on attracting investment from domestic economic sectors, firstly the private sector, and foreign direct investment (FDI), stepping up exports, promoting public capital disbursement, and encouraging domestic consumption.
On this occasion, he tasked businesses with promoting patriotism and law respect, sharing difficulties with the Government, staying united, cooperative, dynamic and creative, and maintaining determination.
Local businesses need to contribute to the country's growth so that the national economy could develop in accordance with the V shape but not the U or W shapes, said PM Phuc.
Vietnam grew 3.82 percent in the first quarter of this year, the lowest over the past decade, he said, but noting that it was the highest among the ASEAN nations.
(ASIA PACIFIC DAILY)
