(VOVWORLD) - Vietnam’s flexible and safe adaptation to and effective containment of the COVID-19 pandemic have helped its economic recovery gain positive results. But the world’s unpredictable political and economic developments are disrupting the global supply chain and creating major challenges and also opportunities for Vietnam. This is also an opportunity for the business community and people to show their will to rise and self-reliance to turn Vietnam into a prosperous and happy nation.
 At the seminar on self-reliance for economic recovery and development in integration process held by the Voice of Vietnam (Photo: VOV)
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Dr. Vu Minh Khuong, an Associate Professor at the Lee Kuan Yew School of Public Policy of the National University of Singapore, recently said that self-reliance is more important than ever, helping developing countries like Vietnam and South Korea overcome the difficulties of an unstable world.
“To be self-reliant and have self-control, first the nation must unite. Then it must expand its own capacity and create value for the whole society, especially in regard to institutions, people, businesses, and culture. Creating new values in the new era is very important because old development models are becoming unable to create values,” said Khuong.
 Dr. Vu Minh Khuong, an Associate Professor at the Lee Kuan Yew School of Public Policy of the National University of Singapore (Photo: VOV)
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Nguyen Ba Hung, Senior Specialist in Regional Cooperation at Asian Development Bank (ADB), said the COVID-19 pandemic has created several problems for developing countries like Vietnam.
The problems include social security and its negative impacts on economic growth.
According to Hung, “Self-reliance plays an important role in building national power. Self-reliance means to better connect with the world, access international standards, and expand social security. Self-reliance means to increase infrastructure investment in a sustainable direction. To that end, it’s necessary to mobilize additional resources from development partners and from the private sector.”
Economists have called on Vietnam to promote its endogenous strength, bravery, intelligence, and culture for post-COVID-19 economic recovery and development and to take advantage of the 4th Industrial Revolution.
Nguyen Quang Huan, Vice President of the Vietnam Private Busisness Association, said, “Self-reliance is not self-sufficiency. During global integration, when Vietnam has joined many free trade agreements, we need to understand self-reliance in the right way, which is the premise for businesses to compete internationally. We must align ourselves in the context of global integration.”
Nguyen Tan Tuan, Deputy Secretary of the Party Committee and Chairman of the People's Committee of Khanh Hoa province, said that the spirit of self-reliance has united all local officials and people to fight the pandemic over the past 2 years. As soon as the pandemic was under control, everyone embarked on economic recovery and development.
Tuan said, “Promoting self-reliance, we are determined to achieve 7.1% growth this year. We are also ready to develop a digital economy program in order to create more products and acceleberate economic recovery in the post-pandemic period.”
According to Pham Dinh Doan, Vice President of the Central Council of Vietnamese Business Associations and Chairman of the Phu Thai Group, Vietnam’s current achievements are thanks to a combination of national strength and the power of the times.
Promoting national strengthen means building a spirit of solidarity and improving capacity of enterprises, the Government, and the entire economy.
Promoting the power of the times means understanding the trend of the world economy and developing in line with that trend.
“Businesses, especially Vietnamese businesses, need to quickly adapt to the new situation and not just be self-reliant. Policies also need to be more practical to enable businesses to join the the Government in reasling realize strategies,” Doan said.