VietNamNet Bridge – Prime Minister Nguyen Xuan Phuc has chaired a policy dialogue with the global professional network on Vietnam development to get expert advice on how to fuel the country’s growth.

Prime Minister Nguyen Xuan Phuc greets Professor Ngo Bao Chau, who is the only Vietnamese national to have won a Fields Medal, at a policy dialogue with the global professional network on Vietnam development in Hanoi Tuesday - Photo: VGP

The dialogue was held in Hanoi on Tuesday by the Ministry of Foreign Affairs and Vietnam Initiative, the think tank of Vietnamese scholars worldwide.

Phuc was quoted by the Government portal (chinhphu.vn) as the saying that the Party and State welcome all ideas, contributions and support from foreign and domestic scientists and professionals that will help spur the country’s development.

Vietnam wants close cooperation with experts at home and abroad, Phuc said, adding the Government will heed their ideas when it comes to making policies and regulations.

The policy consultancy meeting for the Government that attracted foreign specialists and intellectuals and overseas Vietnamese professionals is an important dialogue channel, so that experts can comment on the policy-making process.

The meeting focused on three main issues including Vietnam’s position in the global production and value chains, industrial policy and ways to do away with obstacles to growth and development.

Associate Professor Tran Ngoc Anh from Indiana University Bloomington in the U.S. pointed out hindrances to Vietnam’s growth such as those related to financial expenditures, human resources, infrastructure and the State administrative apparatus.

Anh said if the administrative system improves its operation by 10%, gross domestic product (GDP) could grow by an extra 3.6%.

He suggested the Government establish an effective system to evaluate the efficiency of administrative agencies’ operations using specific indicators.

Professor Tran Van Tho from Waseda University, Japan pointed out challenges faced by nations like Vietnam in the industrialization process, such as tough competition among newly industrialized countries amid tumbling demand after the 2008 global financial crisis and overcapacity in the manufacturing sector, and the automation-triggered decline in labor demand.   

He said that at a time when Vietnam is boosting its integration in the world’s economy, how to get out of the outsourcing trap in the global value chain would prove to be a big challenge for policymakers.

The Prime Minister stressed the Government would like to take more advice from professionals to work out suitable and effective policies.

He assigned the Government Office to cooperate with the Ministry of Foreign Affairs and Vietnam Initiative to establish a channel to call for international and domestic scholars to support the Government through policy consultancy and information sharing.

He told the Ministry of Home Affairs and relevant agencies to study models to evaluate the efficiency of administrative agencies, and ordered the ministry to coordinate with Vietnam Initiative to build a national evaluation system.

SGT