Economic-institutional barriers on Socio-economic development of Vietnam during the Reform period and remedy solutions


On the morning of 28/08/2017, the University of Economics - University of Da Nang held the seminar entitled "Economic-institutional barriers on Socio-economic development of Vietnam during the Reform period and remedy solutions", in cooperation with the National Economics University. This seminar is one of the state-level activities, aiming at soliciting the opinions of scientists, managers and entrepreneurs. The seminar warmly welcomed  the board of directors; representatives of departments and sectors; Management Board of University of Economics - University of Da Nang; leaders of departments, faculty and students.


In his welcome remarks, Assoc. Prof. Nguyen Manh Toan - Rector of the University of Economics - University of Da Nang said: "The economic – institutional barriers have a strong and important influence on the socio-economic development of each locality in particular, and of Vietnam in general in the context of innovation and international integration. Institutional barriers are manifold, not only related to resource development, but more importantly to the operating mechanism that allocates resources to the economy. Today's seminar is an opportunity for scientists, managers and business organizations to evaluate the opportunities for socio-economic development of the Central Region over the years, identifying the impact of the socio-economic institutional barriers while finding solutions."


Assoc. Prof. Nguyen Manh Toan - Rector of the University of Economics - University of Da Nang delivered opening speech.

In the section, Prof. Dr. Le Du Phong - Chairman of the seminar stated: “ For 30 years, the socialist-oriented market economy has operated in an effective way. The Party and the State have more appropriate, complete and synchronous policies, laws and regulations, creating a favorable environment for production and business activities, enterprises as well as people. The State has set up a state management apparatus, which is more and more suitable, step by step into the publicity, transparency and efficiency. This economic mechanism has created a strong motivation for Vietnam to exploit the advantages of domestic and foreign resources in accordance with the country's socio-economic development. Thus, the Vietnamese economy has quickly got out of the crisis and achieved much success over the past 30 years. However, from outer perspective, Vietnam is slowly developing. Many scientists forecast that in the coming years, Vietnam will not have as robust and strong development as neighboring countries in ASEAN. There are many objective and subjective reasons for Vietnam's economy to develop slowly. Economic barriers are identified as one of the leading causes.”


Prof. Dr. Le Du Phong - Chairman of the seminar

The head of the project also suggested topics to be discussed by the participants such as barriers from the State law; barriers from the government's system; barriers from management; the harassment of public officials in the state executive apparatus; consequences of those barriers on socio-economic development in Vietnam; the causes and solutions to overcome these barriers.
After the introduction of Prof. Dr. Le Du Phong, the delegates continued the seminar:
- Institutions and economic growth in Vietnam: The case of Central Highlands and Central Highlands provinces - Assoc. Prof. Bui Quang Binh, University of Economics - University of Da Nang.
- Barriers to young businesses in Da Nang City - Dr. Nguyen Phu Thai, Institute for Socio-Economic Development Danang.  
The discussion drew enthusiastic comments from the delegates around the issues of: freedom of business; recommendations on how to make laws in Vietnam; renovation in the work of cadres; information technology in the workplace, management ... At the same time, delegates also raised concerns about the results of such seminars to the authorities. They aims to quickly apply the solutions into practice.


The seminar closed successfully, the Board of Directors highly appreciated the participation and enthusiastic comments from the delegates. Prof. Dr. Le Du Phong said that these are thoughful insights and research. The Board will record and propose recommendations to eliminate institutional barriers to bring about the sustainable development of Vietnam economy.