Nhan Dan Online – According to the Asian Development Bank (ADB), Asia faced two development scenarios by 2050, including the Asian Century Scenario and the Middle Income Trap Scenario.
The information was highlighted by Minister of Planning and Investment, Bui Quang Vinh during the opening ceremony of the fifth Asian Development Forum, which was co-organised by the Vietnamese Government, Japan and the Republic of Korea, under the theme ‘Challenges and strategies towards sustained growth of Asia’, in Hanoi on September 19. The event saw the presence of nearly 100 delegates from 11 nations and territories in Asia and representatives of international development partners.
According to ADB’s forecast, under the first scenario, Asia’s gross domestic product would be 10 times that in 2010, and the continent would be trapped in the middle income bracket under the second scenario.
Vinh said that Asian countries, especially countries with the middle income, should promptly take effective measures to address challenges, in order to reach a rapid and sustainable development target.
For Vietnam, though the country has gained most of the Millennium Development Goals (MDGs) and numerous achievements in socio-economic development, hunger eradication and poverty reduction, it is still facing new challenges as the momentum of the past 30 years is reducing, Vinh said.
To avoid the middle income trap, the Government has looked for new development methods, carried out restructuring of the economy and sectors with a focus on quality, productivity, effectiveness and competitiveness, deepened the development and mobilised partners’ participation into the development process, Vinh added.
At the forum, the delegates discussed three major matters, including overcoming the middle income trap by developing infrastructure, institution and human resources; mobilising financial sources for development to maintain a sustainable growth; sharing knowledge and studying lessons from each other.
(Source: Vietnam+ – Translated by Nhan Dan Online)
Đăng ký: VietNam News
