Speech at the launch of macroeconomic policy project

15 Apr 2010

Speaker: Ms. Setsuko Yamazaki, UNDP Country Director
Date:      15 April 2010
Event:     Launch of macroeconomic policy project

Mr. Nguyen Duc Kien, Vice Chair of the National Assembly;
Mr. Ha Van Hien, Chairman of the Economic Committee of the National Assembly;
Mr. Do Hoai Nam, President of the Viet Nam Academy of Social Sciences;
Representatives from the National Assembly, the Party, Office of Government, National Financial Supervision Committee and research institutes;
Colleagues and friends;

It is our special privilege to launch the new project  “support for enhancing the capacity in advising, examining and overseeing macro-economic policies” together with the Economic Committee of the National Assembly.

As the Vietnamese economy increases in size and complexity and becomes increasingly integrated into the regional and global community, investment in high-quality macro-economic policy research will be a key to the next level of the country’s development. Strengthening the national capacity for policy research and further enhancing national policy debates is essential for Viet Nam if it is to make good policy choices and address short-term challenges while guiding the long-term development of the country.

Over the past years, Viet Nam has implemented a number of economic reforms which have helped achieve considerable economic growth and contributed to social development and poverty alleviation. However, there is now a need for further reforms in order to help Viet Nam pursue a quality of growth that brings the benefits to as many people as possible, avoids the so-called ‘middle income trap’, and results in a modern industrialized nation.

As highlighted in a UNDP-funded policy paper – Choosing Success – a key to the success of further economic reforms will also be to enhance the national technocratic competence and the capacity to provide good-quality, objective and comprehensive analyses. Such a national capacity has played a crucial role in the economic growth of other countries in East Asia. Furthermore, the recent experience of dealing with the impacts of the global financial crisis has demonstrated that such skills are imperative for furthering understanding of the impacts of external shocks on the national economy and ordinary people.

With these considerations in mind, UNDP is very glad to be part of this project. By bringing together policy research and oversight institutions as well as policy makers, and providing them with international expertise and knowledge, the project aims to strengthen national capacity to conduct evidence-based macro-economic policy research and carry out public debates and policy dialogues on macro-economic issues.

Being a global knowledge network, UNDP is delighted to bring an international dimension to this national endeavor. There is no better way of finding solutions to Viet Nam’s macro-economic challenges than by learning from the experience of other countries.
 
Strong national ownership, leadership and concrete commitments also play a key role in ensuring that UNDP support is used in the most effective way. In this respect it is important to ensure that our input is complementary to the national efforts – rather than simply supplementing these efforts.

I would like to take this opportunity to thank Mr. Ha Hien and Prof. Do Hoai Nam for their personal commitment and leadership. I also want to thank the staff of the institutions involved for their hard work and commitment over the last months. This support has been crucial in formulating the project and has brought us to where we are today. I am certain that such commitment and leadership will continue to be a key factor in the successful implementation of this project. 

I wish you all good health and happiness!