A round-table discussion in the presence of Prime Minister Nguyen Tan Dung and a number of domestic economic experts was held in Hanoi on September 13 to assess the real situation of the Vietnamese economy and its prospects in the remaining months of this year and into 2009.

Mr Dung spoke highly of the great achievements over 20 years of the Doi Moi (Renewal) process, particularly the high economic growth rates recorded in 2006 and 2007.

In 2008, the world economic slowdown, run-away inflation and soaring prices have forced many countries to readjust their economic development targets. The situation has adversely affected the Vietnamese economy in one way or another, said Mr Dung.

The Vietnamese Government pointed out inherent weaknesses in the national economy to readjust the 2008 targets for socio-economic development with a focus on curbing inflation, stabilising the macro economy, ensuring social welfare and maintaining a reasonable economic growth rate of 7 percent.

Participants also discussed the key targets for 2009 and necessary solutions to keep the inflation rate under 10 percent by the end of this year and improve poverty reduction. They also discussed measures to resolve urgent issues related to agriculture, rural development, employment and social welfare.

Based on the economic experts’ opinions of the real economic situation in Vietnam, the Government will make a forecast of the socio-economic situation in 2008 and devise targets, plans and tasks for 2009 to be submitted to the Party Central Committee and the National Assembly for consideration.