The seminar had the presence of Prof. Dr. Le Quan - President and leaders of functional departments of the Vietnam National University, Hanoi (VNU). 

On the side of the VNU-UEB, there were Assoc. Prof. Dr. Nguyen Truc Le - Rector, Assoc.Prof.Dr. Nguyen Anh Thu - Vice Rector; Dr. Nguyen Quoc Viet, Deputy Director of the VEPR, VNU-UEB’s faculty and staffs.

On the side of the FNF Vietnam, there was the attendance of Prof. Dr. Andreas Stoffers, Country Director.

The conference was also honored to welcome many experts and scientists from policy-making agencies, research institutes, domestic and foreign universities, the ambassadors Poland, Germany, and a number of international organizations in Vietnam.

Current issues in digital transformation were presented by the following speakers: Dr. Nguyen Quoc Viet - VEPR; Dr. Tran Toan Thang, Head of Industry and Enterprise Economic Forecasting Department, National Center for Socio-Economic Information and Forecast; MSc. Pham The Thanh, Faculty of Banking and Finance, VNU-UEB; Dr. Nguyen Thi Van Ha, Faculty of Economic Transport, University of Transport.

The open discussion and exchange session was moderated by Assoc.Prof.Dr.Nguyen Anh Thu, Vice Rector and the participation of experts: Dr. Can Van Luc, Chief Economist of BIDV, Director of BIDV Research and Training Institute; Dr. Vu Tien Loc, Member of Economic Committee of the National Assembly, Chairman of Vietnam International Arbitration Center, Senior Advisor of TFGI International Institute of Technology; Assoc.Prof.Dr. Vu Sy Cuong, Head of Financial Policy Analysis Department, Faculty of Public Finance, Academy of Finance; Dr. Nguyen Minh Cuong, Chief Economist, Asian Development Bank (ADB) in Vietnam.

The conference received the attention of a large number of policy makers, scientists, international organizations, businesses, and press agencies

2022 Vietnam Economic Annual Report - a publication with high scientific and practical values

Appreciating the VNU-UEB’s position in research with international publications, policy and business consultancy in the fields of macroeconomics, international economic integration, business administration, and finance, Prof.Dr. Le Quan affirmed that the University has contributed an important part to VNU’s achievement of ranking 451-500 in the world in the field of Business and Management Science. In particular, the 2022 Vietnam Economic Annual Report conducted by VEPR is an outstanding product contributing to research on Vietnam’s economic issues in 2022 and the following years.

According to Prof. Dr. Le Quan, the workshop is very meaningful in the context that Vietnam is in the period of economic recovery and development. Accordingly, digital transformation in the economy and in the service industry is considered to create a direct driving force for economic growth and sustainable development in the medium and long term. On the other hand, an effective and innovative digital service platform will create spillover effects to all sectors by providing high-quality inputs and guaranteed outputs and business support services for Vietnam's key industry - agriculture, especially in the context that our economy has increasingly integrated into the global value chain. 

Prof.Dr. Le Quan highly appreciated the contribution of policy recommendations of the Vietnam Economic Annual Report 2022 in the context that Vietnam is in the period of economic recovery and development

Assoc.Prof.Dr. Nguyen Truc Le - Rector of VNU-UEB, speaking at the conference

Regards the research ecosystem associated with training, a body of foreign experts as advisors and scholars of the University, Dr. Le commented: “The annual economic report has gone through a long history of nearly 15 years by two prestigious organizations, the University and the FNF. Having these reports is part of the quintessential wisdom from the University’s researchers, an internationally-oriented strategic environment, and a leading position in higher education institutions in the country and region”. In particular, according to Dr. Le, the annual economic report will also focus on analyzing and evaluating the digital transformation process for a number of service industries, especially the finance, bank,ing and logistics industries, two strategic key industries of the country. He hoped that these analysis will be in-depth assessments and recommendations for policy advice to the Government and the Central Government.

Dr. Vu Tien Loc, Member of the Economic Committee of the National Assembly, Chairman of the Vietnam International Arbitration Center, Senior Advisor of TFGI International Institute of Technology, highly appreciated the great values ​​that the report has brought between the two countries. Vietnam's economy is facing many challenges in recovering and developing. 

According to Dr. Nguyen Minh Cuong, Chief Economist, Asian Development Bank (ADB) in Vietnam, the 2022 Annual Economic Report has shown a lot of in-depth and extensive analysis in various economic fields. This is reputable scientific data, useful for businesses, localities and policy-making agencies.

Digital transformation - an inevitable trend for global service businesses to live together safely, flexibly and effectively to COVID-19

In 2021, digital transformation trends such as working remotely (Work from Home) have emerged; 5G network; Artificial Intelligence AI, Blockchain, Internet of Things (IoT), Customer Data Platforms (CDP)... The developed economies have gone into depth and are at the stage of focusing on handling the "core" issues of the digital economy, but Southeast Asia (except Singapore) is at the start of the global digital transformation. across all sectors and is still lagging far behind developed countries.  

Digital transformation in service industries has been and is taking place globally, and there are differences by industry. Digital transformation in Logistics services is increasing strongly based on the development of information and communication technology. In financial services, the digital transformation process takes place at different levels depending on the technology and financial capabilities of each implementing organization. 

 

Forecasting 3 growth scenarios in 2022

Vietnam's economic forecast in 2022, VEPR assessed, the economy is in the process of recovering but will continue to face many difficulties and obstacles.

Those are the risks from the pandemic, the risk of new strains appearing despite recent developments showing an improvement in global disease control. Obstacles also come from inflation pressure and rising production costs, risks from the Russia-Ukraine conflict. Although the direct impacts are not too large due to the relatively small bilateral trade and investment relations between these two countries with Vietnam, the indirect effects are very large. Next is the slowdown of the global economy and important partner economies of Vietnam, especially China in the context that the country continues its "zero Covid" policy with control measures. Strict epidemic control can cause stress to the economy, affect supply chains, thereby affecting Vietnam's economy. 

 

From the analysis and general policy recommendations, the Report emphasizes that Vietnam needs to continue to achieve the goal of both economic recovery, macroeconomic stability and soundness; financial market transparency from the perspective of living with Covid-19; implement fiscal and monetary policies with a focus on boosting demand and prioritizing resources for the business sector to recover and develop.

The report has presented GDP growth scenarios in 2022, with the base scenario being that the growth rate this year will reach 5.7%, the extreme scenario is 6.2%. However, if the context is negative, the GDP growth that VEPR forecasts will decrease to 5.2%.

The scientists attending the conference recommend that, in the context that the pandemic can still develop complicatedly, proactively controlling the disease, minimizing negative impacts, and protecting and supporting economic recovery need to be prioritized.

In particular, it is necessary to accelerate the implementation of solutions for economic recovery and development. In which, continuing to implement social security solutions, policies on tax and fee exemption and reduction, etc. proposed at the Socio-economic Recovery Program 2022-2023. Accelerate the progress of the solution. public investment capital budget, effectively harmonizing public investment capital from the capital of the Recovery Program and capital from the medium-term public investment plan.

Another issue that should be noted is speeding up the implementation of measures to reduce interest rates and support interest rates, but it needs to be closely associated with strict supervision and control of bad debt situation...

The Vietnam Economic Annual Report is a key product of the VEPR. Over the past 14 years and 14 reporting periods, the Institute has focused on independent research and analysis, based on evidence from the reality of Vietnam's macroeconomic issues in the year of publication of the report and forecast for the next year. In addition, the reports also highlight achievements, difficulties, opportunities and challenges in the process of economic development in Vietnam, contributing to providing a scientific basis for macroeconomic policymaking. at the same time, selectively discuss some outstanding and in-depth economic issues of Vietnam.

Some outstanding images at the Conference to announce the Vietnam Annual Economic Report in 2022: