Addressing a high-level Asia-Pacific forum in Hanoi on September 28, Mr Hung said that the recession has taken its toll on all aspects of life, especially in rural areas. High unemployment and poverty rates have adversely affected social welfare, people’s standards of living and the stability of every country and region, preventing some from implementing their UN Millennium Development Goals.

He said that despite the initial success in reversing the economic slowdown, the crisis still poses imminent risks to regional countries, requiring them to deal with urgent issues, including generating jobs, seeking sustainable finance for health care, education, rural infrastructure and social welfare, and improving people’s physical and spiritual lives.

Thanks to several synchronous and appropriate solutions, Vietnam has stabilised its macro-economy, maintained a steady economic growth and ensured social welfare for all, said Mr Hung. Vulnerable groups have benefited from programmes such as the one to invest in the 62 poorest districts across the country, build houses for low-income earners and provide vocational training for farmers.

He expressed his hope that the delegates would put forward initiatives and measures to minimise the negative effects of the crisis on rural development and poverty reduction. He said that countries should make stronger commitments and take more appropriate steps to reach their targets for rural development and poverty reduction, while expanding cooperation and pooling more resources to bridge the development gap, maintain social stability and ensure sustainable development in every country and region as a whole.

Asian Development Bank (ADB) President Haruhiko Kuroda said that when Asia recovers, regional governments should expand their social welfare services to support the poor and revamp the economy. He said the crisis is viewed as an opportunity for these governments to introduce ways of sustaining development in the future.

He said that to cope with any future crisis and achieve sustainable development, these countries should continue to restructure their economies, increase regional trade, stimulate consumption, and allocate a budget for social welfare, medical insurance, education and allowances for the poor.

ASEAN Deputy General Secretary Misran Bin Karmain acknowledged the efforts regional countries have made to cushion the impact of the crisis and called on them to work closer together to overcome the challenges, develop in a sustainable manner and fulfil the UN Millennium Development Goals.

About 350 delegates from 28 countries in Asia and the Pacific and various international organisations are attending the three-day forum, which was co-hosted by the ADB, Vietnam, China and the ASEAN Secretariat.