It is necessary for Vietnam to know how best to keep “warm” and overcome the difficulties from the “cold winter winds” facing the economy, Editor-in-Chief of VnEconomy / Vietnam Economic Times Dr. Chu Van Lam said in his opening address at the Vietnam Economic Scenario Forum 2023, which opened in Hanoi on January 11.

This 15th holding of the Forum is being co-organized by VnEconomy / Vietnam Economic Times and the Ministry of Foreign Affairs.

Vietnam’s economy is expected to face many difficulties amid unexpected changes and uncertainties in the global economy, Dr. Lam said. The difficulties have indeed begun to appear already and had a direct impact on some of Vietnam’s key export sectors in the fourth quarter of 2022.

However, the Vietnamese Government has made forecasts and prepared response plans. It also identified growth targets and clarified messages as well as orientations for economic management in 2023, he added.

Forecasts and preparations for appropriate plans to brace for the “cold winter winds” are needed and this is also the goal of the Forum, which saw the participation of State management agencies, economists and analysts, and business representatives, he told the gathering.

From an initiative aimed at promoting the role of the media in establishing multi-channel information, bringing together stakeholders to discuss important, practical, and urgent issues in the economy, the Forum has become an official information channel greatly appreciated by policymakers, management agencies, economists and analysts, and the business community.

Vietnam basically fulfilled its socio-economic targets in 2022 thanks to the leadership of the Party, the government, and the National Assembly, and the joint efforts of ministries, sectors, localities, and, in particular, the business community.

“We hope this Forum and others held recently by the Party Central Committee’s Economic Commission will update all stakeholders on the latest situation and that practical and effective measures will be proposed,” Dr. Lam said.

With the theme “Optimizing resources, overcoming challenges”, this year’s Vietnam Economic Scenario Forum consisted of two sessions, including a debate where economists and analysts discussed trends and challenges and assessed Vietnam’s ability to turn the tide. The other session discussed the most urgent pressing issues relating to the operations of industries, markets, and businesses, to determine their proactiveness and ability to overcome the challenges.

The Forum is therefore expected to meet needs in the business community for information and updates on the economic situation in Vietnam and the world and to serve as a reference for the investment, production, and business strategies of enterprises.