The VNU University of Economics and Business (UEB) partnered with VINEXAD to host a series of seminars titled "The Global Economy: Overcoming Instability and Moving Towards Sustainable Development." The forum brought together economists, scholars, and business leaders to share insights and explore solutions for global economic challenges in today's volatile landscape.

 

The forum was attended by government representatives, economists, policymakers, researchers, university representatives, and business professionals. Representing UEB were Dr. Hoang Khac Lich, Vice Rector; Dr. Nguyen Tien Minh, Acting Head of the Faculty of International Economics and Business; along with other faculty and students.

In his opening remarks, Dr. Lich emphasized the urgency of sustainable development in the face of global economic fluctuations. He described the forum as an open platform for experts, researchers, and businesses to share knowledge, discuss current economic conditions, and propose appropriate solutions. He expressed confidence that the forum would spark meaningful dialogue and action, highlighting the importance of collaboration between academia, government, businesses, and society to overcome challenges and promote a sustainable future.

The successful forum featured four discussion sessions and six presentations on key economic topics, including logistics, international cooperation, ecotourism, and eco-industrial park development. Experts offered valuable insights and practical solutions, opening up new opportunities for optimizing import-export costs, promoting international cooperation within the BRICS framework, and developing preferential financial policies for sustainable development in Vietnam. The experts presented practical recommendations, addressing challenges faced by businesses and promoting sustainable growth.

Assoc. Prof. Dr. Huong's presentation, "The Global Economy in 2024: Overcoming Instability?" provided a comprehensive overview of the global economic outlook. She analyzed the heightened geopolitical risks stemming from military tensions and power struggles, while also noting the projected 3.2% global growth driven by decreased inflation and improved purchasing power, led by the US and India. She discussed the improving yet still pressured trade environment and the increase in international investments, particularly in high-tech sectors. Dr. Huong highlighted the opportunities for Vietnam arising from trade and investment shifts, emphasizing the need for structural reforms, skills development, and market diversification to mitigate global risks.

Ms. Huyen, in her presentation on optimizing logistics costs for import-export businesses, discussed Vietnam's logistics performance, highlighting challenges related to regulations, infrastructure, and skilled labor shortages. She forecast rising freight costs and offered recommendations for cost optimization through strategic selection of delivery terms and transportation methods, drawing examples from successful practices in consumer goods, plastics, rubber, and medical equipment sectors.

Dr. Dung's presentation focused on cooperation within the BRICS framework, analyzing the economic and financial cooperation mechanisms, including the New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA). He explored the potential benefits for Vietnam, such as infrastructure financing and reduced foreign exchange risks through local currency lending.

The forum continued with a panel discussion featuring experts from various sectors. They discussed the volatile global landscape marked by geopolitical conflicts and trade tensions, acknowledging the steady global economic growth driven by inflation control and recovery in certain regions. They emphasized the need for Vietnam to adapt to these changes through effective strategies.

The experts concluded that 2024 remains a turbulent year, marked by geopolitical conflicts like the Russia-Ukraine war, the Israel-Hamas conflict, and ongoing great power competition. While the global economy is experiencing steady growth thanks to controlled inflation and recovery in regions like the US, Canada, and some emerging markets, trade conflicts and supply chain disruptions continue to pose significant challenges. With global growth projected at 2.7%, Vietnam has the opportunity to leverage shifting supply chains and investments in renewable energy for its own development. However, Vietnam must also navigate the challenges of geopolitical tensions, trade protectionism, and financial instability, requiring effective adaptation strategies from both government and the private sector.

Following the discussion, Assoc. Prof. Dr. Tran Van On, a senior lecturer at Hanoi University of Pharmacy and national advisor for the One Commune, One Product (OCOP) program, shared his insights on developing ecotourism linked with medicinal plants. He highlighted the growing popularity of this tourism model in Vietnam, which offers visitors immersive cultural and medicinal experiences. While some small-scale initiatives exist, such as MEDI Thien Son in Ba Vi and the Ha Nhi Agro-Medicinal Garden in Lao Cai, the sector needs more comprehensive development. Dr. On emphasized the need for a strategic approach, focusing on building service chains, effective marketing, and supportive government policies. He also recommended drawing lessons from successful models in Thailand and China, stressing the importance of integrating cultural preservation, community benefits, and environmental protection into this type of tourism.

Dr. Tran Thi Mai Thanh from VNU University of Economics and Business presented on "Financial Incentives for Eco-Industrial Park Development: International Lessons." She discussed the crucial role of financial incentives in developing eco-industrial parks (EIPs) and drew lessons from South Korea and ASEAN countries for Vietnam. While Vietnam has piloted EIPs since 2015 with positive results, funding remains a challenge. South Korea, Singapore, and Thailand have successfully implemented green finance policies that improve businesses' access to capital. Dr. Thanh argued that Vietnam needs to develop similar green finance policies and strengthen public-private partnerships to promote EIPs and drive sustainable development.

Mr. Nguyen Duc Long from the Academy of Finance presented on the "Feasibility of Applying the Eco-Industrial Park Model at Thang Long Industrial Park II." His presentation analyzed the potential for implementing an EIP model at Thang Long II Industrial Park in Hung Yen province to optimize resource use and minimize environmental impact. While the industrial park has attracted major foreign direct investment and implemented some environmental protection measures, it still faces challenges in establishing a fully functioning industrial ecosystem due to a lack of support and financial policies. Mr. Long recommended developing green finance policies, fostering public-private partnerships, and creating a specific management framework for EIPs.

The "Global Economy: Overcoming Instability and Moving Towards Sustainable Development" forum, co-hosted by VNU University of Economics and Business and VINEXAD, provided valuable insights and practical solutions for Vietnamese businesses. The presentations and panel discussions not only offered information on global economic trends but also suggested pathways for Vietnamese businesses and the economy to adapt to change and pursue sustainable development. The forum also explored policy implications for import-export activities, logistics, industrial parks, and ecotourism. By creating a platform for effective networking among experts, researchers, and businesses, the event contributed to the development of future economic policies and strategies.