VN seeks ways to secure social welfare

The symposium on macroeconomic instability and welfare impact: International experience and lessons for Việt Nam, Hà Nội, June 29 - Photo: VGP

The event, which was also attended by local and foreign economists, is expected to provide independent suggestions for the Government to better mange the macro-economy.

It is forecast that the global inflation may rise high this year due to escalating prices of food and energy and Africa and Southeast Asia are among the worst hit areas.

Mr. Will Martin from the World Bank said that poor people often spend 75% of their income for food and that they are most vulnerable to soaring food prices.

Former Deputy PM Vũ Khoan said factors like climate change and epidemics adversely affect agricultural production, which, therefore, needs adequate investment even when the country is advancing toward industrialization and modernization.

In Việt Nam, the quality and efficiency of agricultural development are still low, requiring the restructuring of the sector, he noted, emphasizing the necessity to conduct the process along with the restructuring of the national economy.

Mr. Trần Đình Thiên, Director of the Việt Nam Institute of Economics raised the need to mitigate climate change impacts as well as effects from energy-food competition.

He also suggested the development of high-tech - based agriculture as it helps save energy and water resources.

Meanwhile, Professor Nguyễn Thắng from the Vietnamese Academy of Social Sciences emphasized wider access to information, especially those on markets, for farmers.

By Hải Minh