Global Meeting of Emerging Markets Opens

Producing cars in a Toyota Vietnam factory. Foreign investment commitment to Viet Nam exceeded US$31 billion over the past six months.

Policy makers, scholars and CEOs of major groups are attending a global meeting of emerging markets forum, which opened in Hanoi on June 29.

Opening the meeting, Minister of Planning and Investment Vo Hong Phuc emphasised the recent successes in economic development of emerging economies, which, he said, had lifted the positions of these countries on the world map.

The minister hoped that at the meeting, participants can share information and experiences to help each other to enjoy mutual development at a time when these economies are facing impacts of the global economic recession with the decline of the securities market, inflation, food shortage and climate changes.

The minister said that in the first half of this year, Vietnam’s economy faced not a few difficulties and challenges. However, the government’s drastic measures to manage the macro economy have had initial effects.

Foreign investment commitment to Viet Nam exceeded US$31 billion over the past six months of this year while the consumer price index and trade deficit started a downward plunge.

Many international financial institutions, donors, economists and investors are optimistic about the medium- and long-term development prospects of Vietnam, affirmed Deputy Minister Phuc.

Former Philippine President Fidel Ramos stressed the need to discuss economic and trade issues in order to accelerate the flows of private investment capital among emerging economies.

Discussion during the two-day forum will focus on the recent development of the international financial market and emerging economies, the role of independent investment funds; and Viet Nam’s long-term economic development prospects.

Trans-border trade and investment in Asia, Africa and Latin America; financial markets in the regions of developing countries, especially the Association of Southeast Asian Nations (ASEAN); and the climate changes’ possible impacts on emerging economies will also be discussed.

Source: VNA

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