BEGIC - Immediately after the Opening ceremony of the Horasis 2019, experts and speakers had a Plenary Session discussing global and Asian economic outlook.
According to experts, the global economic outlook for 2020 is uncertain given the breaking of some global supply chain across Asia. In the context of the ongoing trade war between the world's two leading economies, the United States and China, the speakers said that the strong movement of capital from investors will accelerate into countries in Asia, including Vietnam. This brings many opportunities as well as challenges for domestic investors to supply raw materials and human resources. In the fluctuation context of global economic, Vietnam still maintains strong growth.
Analyzing the period of fluctuations and difficulties of the global economy, the speakers and researchers also pointed out many effects and impacts on the economy. In particular, the most noticeable trend is that the manufacturing enterprises have moved to other countries, leading to qualified human resources. Especially, moving to Asia and Southeast Asia, including Vietnam. It is an opportunity for the development of Asia generally and Vietnam particularly. Besides, it also leads to many issues of inflation, social security settlement and requires innovative innovation models, leveraging and investing in infrastructure to motivate the market.
International guests participating in the Plenary session
Discussed at the Session, the speakers said that China is actively developing its Belt and Road Initiative – a beltway of roads and rail connecting development hubs. It has the potential to aid half the world's population and stimulate a quarter of its GDP. This is an initiative that brings many benefits not only for China but also for other countries in the region. However, to accomplish this, it is necessary to mobilize sufficient resources; linkage and cooperation among countries together.
The Vietnam Government needs to have good policies, create interest for investors, in which, with a team of young and talented human resources, engineers, investors are more interested to boldly invest in Vietnam.
Mr. Don Lam - CEO and co-founder of VinaCapital shared that Vietnam has participated and signed most important trade agreements in the region and the world and always supports free trade. In response to the shift of investors into Vietnam, domestic enterprises believe, in order to keep good personnel, it is necessary to be proactive in responding to labor requirements, especially related policies and benefits.