Seminar discusses globalization impact on transition economies

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VOV News English - 70 month(s) ago 5 readings

Seminar discusses globalization impact on transition economies

(VOV) - Scientists from the Hungarian and Polish Academies and some of Vietnam’s research institutes and universities gathered in Hanoi on April 20 to discuss the impact of globalization on some transition economies in Eastern Europe and Vietnam in the early years of the 21st century.

At the seminar, scientists shared the view that Vietnam’s integration into the region and the world is proof of important changes in the country’s foreign policy. Globalization brings many opportunities and challenges for the development process. Especially in the context of global financial and economic downturn, globalization exerts a major impact on the economies of many countries, including Vietnam. In addition, competition to attract foreign investment becomes tougher and limits Vietnam’s labour exports.

In the integration process, Vietnam aims to become an industrialized nation with an eco-agriculture system in the next two decades.

Dr Nguyen Xuan Thien from the National Economics University said that Vietnam should implement development solutions in the globalization trend. For example, he said the country should continue to implement foreign policies in an open and pro-active manner, boost national industrialization and modernization, and build infrastructure in education, health and culture.

Moreover he said the country should urgently resolve issues related to population, natural resources and environment, while maintaining national identity, building healthy lifestyles and taking synchronized measures to welcome foreign investment flows and generate jobs for labourers.

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