Economic recover at ASEAN +3: New motivation of growth and optimism
- 169
- Socially Responsible Enterprise
- 15:51 27/05/2022
DNHN - On 13.5,The ASEAN+3 region (including ASEAN and China, Japan and South Korea) has shown signs of economic recovery after more than two years of the Covid-19 pandemic. The above remarks were made at the webinar with the theme "ASEAN+3 Regional Economic Recovery: New Drivers of Growth and Optimism" co-hosted by the Asian Development Bank (ADB) and the Asian Development Bank (ADB).

The seminar included Mr. Byungsik Jung, Deputy General Director, Department of International Finance, Ministry of Economy and Finance, Korea; Mr. Tran Toan Thang, Director of the Department of Industrial Forecasting and Enterprise Development, National Center for Socio-Economic Information and Forecast, Vietnam; Mr. Lei Lei Song, Director, Department of Economic Research and Regional Cooperation, ADB; Mr. James Villafuerte, Senior Economist, Southeast Asia Department, ADB; Mr. Toshinori Doi, Director of AMRO; Ms. Ling Hui Tan, Team Leader and Chief Economist, Regional Supervisor, AMRO; and Ms. Marthe M. Hinojales, economist, Regional Monitor, AMRO.
Mr Toshinori Doi said: “This webminar is a side event of the 25th Meeting of ASEAN + 3 Finance Ministers and Central Bank Governors. The meeting discussed policy support in response to the pandemic, opportunities for growth. new growth and regional cooperation. As regional policy advisors, ADB and AMRO organize this webminar to continue the conversation between ASEAN+3 Ministers and Governors on new post-pandemic growth drivers,”
He also mentioned the impact of Covid 19:” COVID-19 is both a major disruptor and a catalyst for change. The effects of the pandemic on labor, capital and productivity may have cast a shadow over long-term growth. But the pandemic has also spurred innovation in sectors such as retail, finance and healthcare, which could lift the region's economies in the long run towards more productivity-driven growth”
At the same time, he also acknowledged the external factors affecting the development of the region, that is, the conflict in Ukraine has caused the price of energy and the price of main agricultural commodities to rise, and exacerbated it.
On the other hand, the pandemic has spurred innovation in sectors such as retail, finance and healthcare, which could lift the region's economy in the long run towards higher productivity-driven growth.
Ms. Ling Hui Tan, Team Leader and Chief Economist, Regional Supervisor, AMRO.ADB Representative Ramesh Subramaniam, Southeast Asia Regional Director General, said: "Supporting industries that have a competitive advantage to drive a green, resilient and inclusive recovery will not requires only industry-specific government interventions, but also interwoven measures to encourage a favorable business environment, improved infrastructure, and stronger intra-regional linkages.
The workshop not only covered sectors such as tourism, apparel, and agro-processing, and their direction in a post-pandemic world, but also discussed emerging industries with growth potential. The speakers also discussed policy responses to a number of risks, including rising inflation and supply disruptions from the conflict in Ukraine.
The ADB expert called on countries to promote an open trade and investment environment through trade facilitation, financial integration and technological upgrading that will help strengthen regional linkages.
AMRO experts warn that in ASEAN + 3, financial risks remain high in many economies due to the impact of the pandemic, and recommend ASEAN + 3 policymakers to take important balancing actions, avoid early withdrawal of policy support to sustain the economic recovery.
Also at the event of ADB - AMRO, Mr. Tran Toan Thang - Head of Industry and Enterprise Economic Forecasting Department, National Center for Socio-Economic Information and Forecasting, - assessed the risk of a re-eruption of the country.
The workshop not only covered sectors such as tourism, apparel, and agro-processing, and their direction in a post-pandemic world, but also discussed emerging industries with growth potential.
The speakers also discussed policy responses to a number of risks, including rising inflation and supply disruptions from the conflict in Ukraine.
The ADB expert called on countries to promote an open trade and investment environment through trade facilitation, financial integration and technological upgrading that will help strengthen regional linkages.
AMRO experts warn that in ASEAN + 3, financial risks remain high in many economies due to the impact of the pandemic, and recommend ASEAN + 3 policymakers to take important balancing actions, avoid early withdrawal of policy support to sustain the economic recovery.
According to Mr. Thang, the driving force for Vietnam's economy in 2022 comes from the policy of opening the economy, along with the recovery of the labor market, which is an important condition for boosting production.
Khanh Linh
Related news
- Renewable energy: Steering in the right direction of the times
- Clean energy must be protected by transparent, stable, and consistent policies
- European-standard ingredients: Inspiring culinary journeys from the heart of the kitchen
- The foundational mark of pioneers in renewable energy amidst an evolving legal framework
- Taste of Queensland: Strengthening Vietnam–Queensland Partnerships through Culinary Diplomacy
- The power of journalism in “upholding the right and eliminating the wrong”
- LAMORI – The Spirit of Lam Kinh in Every Breath
- “Lithuanian President’s visit opens a new chapter in bilateral cooperation with Vietnam”
- List of Vietnam’s 25 Best Workplaces 2025
- Vietnamese Ambassador to the Federal Republic of Germany, H.E. Mr. Nguyen Dac Thanh, Meets with German Business Leaders in Vietnam
- Hodeco and 54 forge strategic partnership to evelate golf Integrated real-estate
- International sports events – a strategic boost for regional economies and tourism in Vietnam
- Halal market potential – The key to business success
- ESG strategy for small and medium enterprises: From compliance pressure to growth opportunity
- Dong Thap Business Club in Ho Chi Minh City launches support fund to accompany enterprises
- Women entrepreneurs in the Era of National Advancement
- The move of a Chinese businesswoman into Vietnam’s snack market
- The Đại Dũng Group: A 30-Year journey of developing a sustainable value chain
- Rediscovering connection – a journey of discovery at LAMORI
- ShopeeFood and Grab dominate Vietnam’s food delivery market
Đọc thêm Socially Responsible Enterprise
Renewable energy and the institutional challenge: In need of a harmonious solution
In the context of global energy transition becoming an irreversible trend, Vietnam has made remarkable strides in attracting investment in solar and wind power.
Renewable energy: Steering in the right direction of the times
In less than three years, the global energy landscape has undergone a dramatic shift — like a tectonic plate moving beneath the surface.
Clean energy must be protected by transparent, stable, and consistent policies
In Vietnam, renewable energy is not only a solution to ensure energy security and reduce greenhouse gas emissions but also a key driver of a green, clean, and sustainable economy.
The power of journalism in “upholding the right and eliminating the wrong”
Journalism holds a genuine power—the power to “uphold the right and eliminate the wrong,” as President Ho Chi Minh once taught.
International sports events – a strategic boost for regional economies and tourism in Vietnam
Among all sports, golf has emerged as a particularly potent driver of regional development in Vietnam. With nearly 100 courses in operation and development, the country has repeatedly been recognized as Asia’s Best Golf Destination in recent years.
ESG strategy for small and medium enterprises: From compliance pressure to growth opportunity
Amid digital transformation and increasing demands for sustainable development, small and medium enterprises (SMEs) in Vietnam are facing mounting pressure to adapt swiftly or risk being left behind.
According to each style
Sao Mai Center 1 & 2 are located within the grounds of Sao Mai Resort Vung Tau - Phu My city - Ba Ria Vung Tau province.
Free vocational training opportunities for young people who want to study abroad at 'Ánh Hồng Mikade'
Recently, Luster International Joint Stock Company, in collaboration with Ánh Hồng Mikade Co., Ltd., officially launched the Ánh Hồng Spa and Therapy Massage Vocational Training Academy at Ho Chi Minh City.
Foreign Trade Entrepreneurs – reaching out to the world: A practical perspective on agricultural exports and logistics
Recently, the event "Foreign Trade Entrepreneurs – Reaching out to the world", organized by the Foreign Trade Business Association (FBA) in Ho Chi Minh City, brought together over 200 entrepreneurs, business owners.....
Attracting investment in renewable energy – Driving the green economy
In addition to attracting capital, proactive land-use policies and comprehensive implementation plans will contribute to ensuring the sustainable development of the renewable energy sector.