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Sustainability the key for all countries

Released at: 14:41, 19/01/2018

Sustainability the key for all countries

Minister of Planning and Investment Nguyen Chi Dung speaks at the Forum on Jan. 18 (Photo: Ngoc Lan)

Vietnam Sustainability Forum 2018 considered what constitutes a harmonious society.

by Ngoc Lan

Growth in prosperity coupled with environmental sustainability, equality, and social inclusion are the main pillars for countries, including Vietnam, in building a modern and developed nation.

Minister of Planning and Investment Nguyen Chi Dung told the Vietnam Sustainability Forum (VSF) 2018, held by the Association of Vietnamese Scientists and Experts (AVSE) and the Academy of Policy and Development in Hanoi on January 18 that growth in 2017 was the highest for a decade and among the highest in the region, but GDP per capita remains at a low $2,385.

VSF 2018 was held as an international exchange platform for stakeholders such as policymakers, academics, entrepreneurs, and NGOs to make presentations and discuss global initiatives, practices, and trends in creating a harmonious society.

According to Minister Dung, Vietnam still faces challenges such as low GDP per capita and workplace productivity, rising income inequality, environmental issues, and the impact of climate affecting production and life.

To pursue environmentally-sustainable prosperity based on the fourth industrial revolution (Industry 4.0), the Minister proposed a number of solutions.

The first is to continue focusing on reforming institutions, laws, mechanisms, policies, and the environment, creating favorable conditions for the market economy to operate fully and effectively and for Vietnam to integrate into the world while promoting democracy and freedom amid socioeconomic development.

The second is to create an equal business environment, promote the restructuring of State-owned enterprises, strongly develop the private sector, and selectively attract foreign direct investment (FDI).

Third is the need to develop innovative and creative capabilities such as national innovation systems, promoting the creative capacity of individuals, businesses, and organizations, promoting creative startups, and applying achievements from Industry 4.0.

Fourth is to promote new growth poles through the construction of three special economic zones with superior institutions and international competitiveness, while improving economic efficiency.

Fifth is to ensure equity and social integration, changing the role of the State in the provision of public services, implementing the market mechanism, and promoting the socialization of public services provision.

Sixth is the sustainable development of the environment and adaptation to climate change, improving capacity in forecasting of natural disasters and the monitoring of climate change, and mobilizing resources for investment in projects to cope with climate change and natural disaster prevention and mitigation.

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