BUSINESS NEWS HEADLINES MAY 30

Vietnam at advantage in economic recovery post-COVID-19: Former Deputy PM He wrote in a recent article that however, there are many unforeseeable factors in the world’s situation that can affect Vietnam. Vietnam is building and on the verge of adopting socioeconomic development plans for 2021-2025 and 2021-2030 and vision towards 2045 in the “new normal situation”, he said. He recalled the regional crisis in 1997, when Vietnam was implementing its 1991-2000 socioeconomic development strategy, the global financial crisis in 2008, during its 2001-2010 strategy, and this pandemic, just as the 2011-2020 plan is coming to an end. The less-than-expected annual GDP growth in the ten-year strategies is mostly attributable to unexpected crises, Khoan said, adding that what will happen over the next five, ten, or 25 years is simply unpredictable. Citing the five epidemics, including COVID-19, that have appeared in the first two decades of the 21st century, the former Deputy PM suggested adopting flexible mid-and long-term plans. He also proposed Vietnam include “safe development” in its strategy for the post-COVID-19 period, in addition to sustainable development, with more attention paid to sectors relating to healthcare, such as bio-technology, bacteriology, preventive medicine, and the research, production and reserve of vaccine… Read full this story

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