This was the main topic of the seminar held on the afternoon of December 4, as part of the 15th Vietnamese Economists Annual Meeting (VEAM) 2024, which take place at Eastern International University (EIU) from December 4 to 6.
Dr. Ngo Minh Duc – President of EIU, delivered the opening speech for the program.
Speaking at the event, Mr. Quang Van Viet Cuong, Vice CEO of Becamex IDC and Vice Chairman of the EIU Council, stated: “Binh Duong, once an agricultural province, has become one of Vietnam’s leading industrial hubs through breakthrough policies that have attracted investment. To date, Binh Duong ranks third nationwide in terms of FDI attraction, with the highest per capita income in the country.”
Mr. Quang Van Viet Cuong, Vice CEO of Becamex IDC and Vice Chairman of the EIU Council, shared at the seminar.
“Becamex has invested in establishing EIU to train high-quality human resources to meet the practical needs of the local area and the nation. I believe the research conducted by professors and experts in the academic community will greatly contribute to policy-making and strategic development for institutions, organizations, and businesses. Therefore, this is an opportunity for me to listen to and exchange ideas with experts, thereby gaining knowledge and experience to address practical issues in Binh Duong today” Mr. Quang Van Viet Cuong emphasized.
Continuing the program, experts shared topics related to green transition in industries in Vietnam in general and in Binh Duong in particular. Dr. Nguyen Thanh Trong, Vice President of EIU, spoke on “Green Transition and Economic Development in Binh Duong in the New Context”; Dr. Dang Quang Vinh, Senior Economist at the World Bank, presented on “Green Industrial Transition in Vietnam: Opportunities, Challenges, and Policy Actions”; and Dr. Ly Duy Khiem, Director of the IOC Center at Becamex IDC Corporation, discussed green transition in the industrial and urban development process of Becamex IDC.
Dr. Nguyen Thanh Trong – Vice President of EIU, delivered at the seminar.
On this occasion, during the discussion session on Vietnam’s economy, Professor Le Van Cuong from The French National Centre for Scientific Research and the Paris School of Economics – FNCSR, Member of VEAM Professional Council, presented to the delegates topics related to Vietnam’s economy under the theme “Assessing Vietnam’s Economy in the First Half of 2024 – Looking Ahead.” Specifically, in the first half of 2024, Vietnam imported $91.9 billion worth of production materials, equivalent to 61.7% of the country’s GDP for that period. This highlights that Vietnam relies heavily on importing production inputs to sustain its manufacturing activities.
Professor Le Van Cuong exchanged views with experts on Vietnam’s economic matters.
Regarding foreign direct investment (FDI), Professor Le Van Cuong noted: Vietnam’s export and import activities are heavily dependent on the foreign-invested sector. According to the General Statistics Office, nearly 72% of Vietnam’s export value in the first half of the year came from this sector, while the sector accounted for 63% of the total import value. Thus, the foreign-invested sector contributed $13 billion to Vietnam’s GDP in the first half of the year, equivalent to 9% of GDP.
However, Vietnam’s expenditure on innovation and research and development (R&D) currently accounts for only 0.4% of GDP, while France allocates an average of 2.2% of its GDP to R&D annually, with 66% coming from companies and 34% from public institutions such as universities and research agencies.
The open discussion session was chaired by Dr. Nguyen Thanh Trong – Vice President of EIU; Associate Professor Dr. Dao Ngoc Tien – Vice President of Foreign Trade University; Dr. Dang Quang Vinh – Senior Economist at the World Bank in Vietnam; and Dr. Nguyen Ngoc Anh – Director of the Development and Policies Research Center.
This morning (December 5), the 15th Vietnamese Economists Annual Meeting (VEAM) 2024 officially opened at EIU. This year, EIU is co-hosting the conference with the Foreign Trade University, the Development and Policies Research Center (DEPOCEN), and the French National Centre for Scientific Research (CNRS).
This annual event gathers researchers and scholars from Vietnam and abroad in fields such as economics, public policy, and finance. Additionally, VEAM provides an opportunity for EIU faculty and executive to learn from the research results of Vietnamese economists and international scholars on the conference topics.
