Real estate hotspot, broken supply chain

On June 5, the 4th Vietnam Economic Forum (2022) will be chaired by the Central Economic Commission, in collaboration with the Government (with the participation of the People’s Committee of Ho Chi Minh City).

The theme of this year’s forum is “Building an independent and self-reliant economy associated with extensive economic integration in the new situation”. For the first time, the event was held in Ho Chi Minh City, the previous 3 times took place in Hanoi. The forum structure includes 3 thematic seminars; 1 plenary session and high-level policy dialogue.

According to Nguyen Thanh Phong – Deputy Head of the Central Economic Commission, the COVID-19 pandemic broke out on a global scale with increasingly complicated and unpredictable developments, which revealed many problems of the economy. need to be remedied.

At the same time, it also opens new development directions towards the goal of both effectively responding to the epidemic, maintaining macroeconomic stability, promoting growth and ensuring people’s lives.

In that context, there is an urgent need to continue to effectively and substantively implement the goals of restructuring the economy and renewing the growth model, helping to create the foundation for sustainable development. stability of the country in the medium and long term.

According to Mr. Phong, in order to have a basis to advise the Central Committee, directly the Politburo and the Secretariat on major undertakings and policies on socio-economic development in the context of the new normal; Following the success of the previous forum, the Central Economic Commission chaired and coordinated with the Government to organize the 4th Vietnam Economic Forum with the theme “Building an independent and self-reliant economy associated with the Association of Southeast Asian Nations”. extensive economic integration in the new situation”.

Notably, the topic of capital market development and real estate market will be discussed in the context that information about domestic real estate has been continuously “hot” in recent times.

Explaining the selection of this topic, Mr. Nguyen Tu Anh – Director of General Economics Department, Central Economic Committee said that, in the current context, for good integration, it is necessary to strengthen the internal capacity of the economy. economy to be more independent and self-reliant.

Intrinsic capacity will have factors including: capital, real estate, labor. These are important factors, if allocating resources for the above factors to work effectively, they will have strong enough internal capacity to better withstand external shocks.

Mr. Tu Anh analyzed, the world economy is facing 2 shocks. First, the shock of the Covid-19 epidemic affects the entire world economy, some countries have returned to normal production, but some countries are still in a state of blockade.

Second, the geopolitical conflicts occurring in the world disrupted supply chains, along with the impact of the epidemic, which made the supply prices of essential goods of the economy such as grains, steel, etc. Coal, gasoline and oil are all under high pressure to increase prices, putting pressure on inflation in many countries, including Vietnam.

All countries find themselves vulnerable to such shocks, so the internal strength of each country is one of the key factors to help escape from shocks.

Regarding the topic of supply chain diversification at the forum, Mr. Vu Hai An – Director of the Department of International Economics and Integration, the Central Economic Commission assessed that the supply chain situation was chaotic, broken, In the long run, there will continue to be unpredictable developments affecting all aspects of life. Goods are in short supply, costs rise, and consumers suffer. Along with that, the profits of enterprises are also eroded, and Vietnam’s exports are also affected.

Facing the above situation, Deputy Minister of Planning and Investment – Mr. Tran Quoc Phuong said that the forecast of economic organizations in the world is that growth will be adjusted down, the recovery speed will be slowed down due to economic factors. inflation factors, especially gasoline prices.

According to the organizers, participating in the dialogue at the plenary session and high-level policy at the Vietnam Economic Forum 2022 will include the Ministers of Finance, Planning and Investment, and the State Bank. Prime Minister Pham Minh Chinh also gave a closing speech at the forum.

Tran Chung

‘Strike back’ to tighten real estate credit: Just heard the news, house prices have increased“The Chinese economy has paid a heavy price because of the tightening of real estate credit, forcing the country to loosen policies since the end of April. This is a lesson for Vietnam in properly recognizing the role of the real estate market.”