Employment - Industrialization - Globalization by Dr. Dinh Truong Hinh
On the afternoon of February 13, Dr. Dinh Truong Hinh (former senior economist of the World Bank - now Director of EGAT Consulting, USA) gave a talk on the issue of Employment - Industrialization - Global exchange with lecturers and students of the University of Economics. Attending the event were Assoc. Prof. Dr. Vo Thi Thuy Anh - Vice Rector of University of Economics, representatives of Student Affairs Department, Training Department and lecturers and students of Banking Faculty - University of Economics.
At the talk, Dr. Dinh Truong Hinh presented the goals and employment context of low- and middle-income countries in the world. The studies of Dr. Dinh Truong Hinh pointed out the basic limitations that have bound the development of light industry such as: cost and quality of inputs, industrial land, finance, trade logistics, start-up skills and skills of workers. To develop the economy in a sustainable way, low-income countries need to create a favorable environment for production, focusing on supplementing knowledge and financial resources with foreign direct investment (FDI) and networks, and on building a successful framework through the selection of appropriate policies.
For middle-income countries, Dr. Dinh Truong Hinh cited lessons learned from four economies: Hong Kong, Singapore, South Korea and Taiwan. These are countries that need only about 32 years to go from low-middle-income countries to upper-middle-income countries, while European countries need an average of 71 years. In addition, in the twentieth century, many countries fell into the middle-income trap, causing per capita income not to increase for a long time. This is also a lesson for developing countries like Vietnam.
Researching the actual situation in Vietnam, Dr. Dinh Truong Hinh said that our country has many advantages for economic growth. To reform and promote economic development, Vietnam needs to stabilize the macro-economy, solve the problem of employment and improve the quality of labor. The government also plays an important role in reforming and promoting the economic development towards modernization, Dr. Dinh Truong Hinh believes that the government is no longer a growth provider but takes on a role as a facilitator of businesses.
Also at the talk, lecturers and students also participated in discussions with Dr. Dinh Truong Hinh on the issue of Vietnam's economic integration in the future, solutions to remove trade barriers and the role of the government in promoting industrial development and building the fair and competitive economy.
* Dr. Dinh Truong Hinh is currently the Chairman of EGAT Consulting company based in Washington, DC (USA). Dr. Hinh is also a senior researcher at many research centers and universities such as the Policy Center (OPC Policy Center) in Rabat, Morocco, Indiana University in Bloomington, Indiana (USA)), etc. Dr. Hinh has 36 years of experience as a leading economist at the World Bank, specializing in research on the economies of Asia, Latin America, Africa, North Central Africa and South Africa. Dr. Dinh Truong Hinh is the author and co-author of 6 books published by the World Bank, participated in the compilation of many books by Oxford University Press, and is the author of many articles in various journals in public finance, world economy, industrialization and economic development.
Some books and references on the economic field by Dr. Dinh Truong Hinh:
- Tales from the Development Frontier: How China and Other Countries Harness Light Manufacturing to Create Jobs and Prosperity:
http://issuu.com/world.bank.pu blications/docs/9780821399880
h ttp://issuu.com/world.bank.pu blications/docs/9780821399880_ part2
- Light Manufacturing in Vietnam: Creating Jobs and Prosperity in a Middle Income Economy:
http://issuu.com/world.bank.publications/docs/9781464800344
Tin từ: Trung tâm CNTT & TT