National scientific conference: Reshaping the global financial system and Vietnam's strategy

14 May, 2021

On the morning of April 27, 2021, the national conference titled "Reshaping the global financial system and Vietnam's strategy" was held at Campus B (279 Nguyen Tri Phuong, Ward 5, District 10, Ho Chi Minh City) by the University of Economics Ho Chi Minh City (UEH) in cooperating with Saigon Giai Phong Newspaper .

Recent changes in the international financial environment are believed to have a significant impact on the global economy in the coming years Such changes includesthe economic policies used by the US government to try to revive the declining economy during the Covid-19 pandemic; China's ambition to go global and to internationalize the Chinese Yuan; changes in international capital flows and global supply chains; or the ability to reposition international financial centers.

In addition, artificial intelligence (AI), Blockchain technology leads to unprecedented changes in the history of finance and money. The rise of digital currencies in many countries and non-governmental organizations, combined with current manifestations of the current global monetary system's decline, could endanger the US dollar's dominance in financial transactions, trade, investment, and international reserves. Such shifts can present both opportunities and challenges for Vietnam.

In that context, the University of Economics Ho Chi Minh City cooperated with Saigon Giai Phong Newspaper to organize a conference titled "Reshaping the global financial system and Vietnam's strategy".

Attending the conference, on the guest side, there were members of the Prime Minister's Economic Advisory Group: Dr. Nguyen Duc Kien; Dr. Truong Van Phuoc; Dr. Tran Du Lich; Members of the National Financial and Monetary Policy Advisory Council: Prof.Dr. Tran Ngoc Tho; Dr. Can Van Luc... with the participation of national and international scientists and researchers; Mr. Nguyen Thanh Loi - Deputy Editor-in-Chief of the Liberation Saigon Newspaper. On the UEH side, there were Prof.Dr. Su Dinh Thanh - President, Dr. Dinh Thi Thu Hong - Head of School of Finance, Assoc.Prof.Dr Nguyen Khac Quoc Bao - Director of Institute of Financial Technology, Dr. Le Dat Chi - Deputy Head of Finance Department, Assoc.Prof.Dr Tran Thi Hai Ly - Vice Head of School of Finance with other lecturersof UEH.

Giving the opening remarks, Prof.Dr. Su Dinh Thanh - UEH President, shared: “The program aims to create an information channel for speakers, guests, and researchers to share and discuss trends, opportunities, and challenges from reshaping the global financial system, and what strategies Vietnam should have facing those changes."

Prof.Dr. Su Dinh Thanh - UEH President delivered the speech

At the conference, Dr. Can Van Luc - Member of the National Financial and Monetary Policy Advisory Council made a speech: The major trends of the global financial system and strategic solutions for Vietnam. The global financial system in the period of 2021-2025 is witnessing many major trends withopportunities, risks and challenges due to complex and unpredictable fluctuations of the Covid-19 epidemic due to the market's continuous movement and the appearance of new elements. Along with the successes in disease control, recovery, and socio-economic development from the beginning of 2020 up to now, the Vietnamese financial system has achieved remarkable results, contributing to the mobilization and distribution of economic resources. The presentation focused on discussing those major trends, as well as identifying four challenges facing the global and Vietnamese financial systems; thereby proposing a number of strategic solutions to help Vietnam take advantage of opportunities, overcome challenges, increase resilience to shocks and develop sustainably.

Dr. Can Van Luc - Member of the National Financial and Monetary Policy Advisory Council made a speech

The conference was organized into 03 sessions with the topics: Global financial system and strategies for Vietnam; Financial technology and the future of the global monetary system; Artificial intelligence ecosystem, business models and rules. At the sessions, delegates discussed the main topics: (1) The position of the US dollar and problems with the current global financial - monetary system; (2) International financial hub, international capital flows and supply chains, opportunities and challenges for Vietnam; (3) Policies to stabilize macroeconomics and financial markets in the context of digital transformation and post-Covid-19 pandemic; (4) Developing trend of digital currencies, artificial intelligence and proposed strategies for Vietnam in the face of the reshaping of the global financial-monetary system.

Speakers gave presentations and discussions in discussion sessions

The Organizing Committee received many articles from scholars, researchers, policymakers, lecturers and graduate students. early 70 articles which provided theoretically contributory and practical to the key topics of the conference were selected to be posted in the Proceedings of the Conference here.

The conference was a great success to propose strategies for Vietnam to take advantage of the opportunities to reshapethe global financial-monetary system while minimizing its challenges.

Delegates took souvenir photos

The press news agency, the television station reported:

1. HTV9 Station: 6am morning news on April 28 and 11h30 noon news

2. VTV24 Station: newsletter at noon 11:30 on April 27: Vietnam's financial system faces the risk of asset "bubble"

3. FBNC: news on April 27: Indian economy may lag 20 years behind because of Covid-19

4. Radio Info TV: April 30 news

5. Saigon Giai phong Newspaper: This morning, Conference "Reshaping the global financial system and strategy for Vietnam": Vietnam adapting to change

6. Saigon Giai phong Newspaper: HCMC qualifies for an international financial center

7. Tuoi Tre Newspaper: Newspaper printed on April 28, 2021: International financial center: now or never

8. Tuoi Tre Online Newspaper: International financial center: now or never

9. Vietnam Television (VTV): Vietnam's financial system faces the risk of asset bubble.

10. Thanh Nien Newspaper: The risk of the Vietnamese banking and financial system is a crime

11. Dan Tri Newspaper: If Ho Chi Minh City does not become a Financial Center, which locality can do it?

12. The Nguoi Lao Dong Newspaper: Mobilizing international capital through Government bonds

13. Saigon Newspaper for financial investment: Policy has not caught up with digital economy, digital banking...

14. Saigon Newspaper to make financial investments: To have a financial center, there must be an adaptive strategy

15. Business Forum Newspaper: 4 risks and challenges of the global financial market in the coming time

16. Vietnam Financial Times: Desk solutions to adapt to global financial trends

17. Dan Viet Newspaper: "If Ho Chi Minh City cannot make an international financial center, no province or city can do it"

18. Vietnam News Agency: Proposal to issue Government bonds to international capital markets

19. Banking Times: The financial market was in the “shock” of Covid-19 pandemic

20. Saigon Economic Times: Capital is 'thin' but the credit institution system 'carries' over 62% of total national assets

21. CafeF Newspaper: Mobilizing international capital through Government bonds

22. Zing Newspaper: The risk of bad debts in banks increases

23. The Entrepreneurship and Law Newspaper: Proposal to issue Government bonds to international capital markets

24. Securities Investment Newspaper: Ho Chi Minh City wants to become an international financial center, it needs a roadmap of more than 20 years

25. Electronic Journal of Business (Vnbusiness): paving the way for the financial technology segment to reach out.

26. The Saigon Liberation Newspaper (paper newspaper), page 4, section Economy - Life: HCMC is eligible for an international financial center.

27. Saigon Economic Online Newspaper: Capital is 'thin' but the credit institution system 'carries' over 62% of the total national assets.

28. Securities Quick News: Ho Chi Minh City wants to become an international financial center, needs a roadmap of more than 20 years.

29. The Finance and Life Newspaper: The financial market was in the "shock" of the Covid-19 pandemic.

30. Integrated Enterprise Magazine: Issues in building international financial centers in Vietnam.

31. Investment Newspaper: What does Ho Chi Minh City need to do to become an international financial center?

32. Peace and Development Fund: http://vpdf.org.vn/tin-tuc-su-kien/Kinh%20t%E1%BF%20-%20Ph%C3%A1t%20tri%E1% BB% 83n / to-now-to-ask-for-the-back-to-finance-to-balance-.html

33. Vietnam Chamber of Commerce and Industry: Desk solutions to adapt to global financial trends

34. Ho Chi Minh City Journalists Association: This morning, Conference "Reshaping the global financial system and strategy for Vietnam": Vietnam adapting to change

35. CafeF Newspaper: Vietnam's financial system faces many challenges after the pandemic

News, photos: Department of Marketing and Communication.