UEH School of Banking Organizing a Talk on “Vietnamese Finance Economics in the Post-Covid-19 Era”
21 Mar, 2022
Within the framework of the Scientific Talk Series in 2022, on March 11th, School of Banking, UEH College of Business organized a talk on “Vietnamese Finance Economics in the Post-Covid-19 Era”. This was an opportunity for specialists, lecturers, postgraduate learners, and students of School of Banking to together discuss and exchange useful breaking news and information about the statement of the world and Vietnamese finance economics in the post-Covid-19 era, especially in the field of banking finance, and opportunities and challenges.
The Covid-19 pandemic has been affecting severely many industries, however, the impacts on the finance service industry of Vietnam are quite limited. Thanks to timely solutions of the Government listed as tax and renting extension and reduction in accordance with Decree 41 and the decision of The State Bank of Vietnam allowing to adjust payment terms and reduce interest to support customers affected by the Covid-19, the “Domino effect” similar to the global financial crisis in 2008 has been prevented. In addition to positive signals, there have still been potential threats regarding whether these delayed effects would take place in the future. Therefore, with a desire to discover and discuss significant information related to the world and Vietnamese financial market, on March 11th, 2022, Monetary Affairs Division, School of Banking, UEH College Business organized a Talk on “Vietnamese Finance Economics in the Post-Covid-19 Era” at Room B1.204, University of Economics Ho Chi Minh City (279 Nguyen Tri Phuong, District 10, HCMC). This was a direct research-exchange day between lecturers of UEH School of Banking and Assoc.Prof. Tran Hoang Ngan - President of Ho Chi Minh City Institute for Development Studies, lecturers of School of Banking, and more than 500 SOB postgraduate learners participating online on the Webex platform.
Overview of the Talk
Delivering the opening speech, Dr. Hoang Hai Yen - Dean of School of Banking welcomed the participation of Assoc. Prof. Tran Hoang Ngan, Lecturers of School of Banking, Postgraduate learners, and students present in the Talk to share useful knowledge of the Vietnamese financial economics field in this period.
Dr. Hoang Hai Yen - Dean of School of Banking delivering the opening speech of the Talk
At the Talk, Assoc. Prof. Tran Hoang Ngan presented several key features of the world and Vietnamese eco-social pictures affected by the Covid-19 pandemic, simultaneously, briefed some opportunities and challenges of the post-Covid-19 stage. Specifically, International Monetary Fund (IMF) lowered the global economic growth forecast from 5.9% to 4.4% due to the impacts of the Omicron variant threatening the recovery of economies, the increase in energy price interrupting suppliers has made the rate of inflation of many countries arise. Besides, the picture has been more and more complicated because of the war between Russia and Ukraine booming on February 24th, 2002. However, compared to other countries in the region, the Purchasing Managers Index (PMI) of Vietnam gained 54.3 points, the 2nd position following Singapore calculated until 02/2022 (according to HIS Markit), which revealed that the economic recovery will have potential advantages.
To recover the Vietnamese economy in the post-Covid-19 era, the Government targets to obtain the growth rate of GDP at 6 - 6.5%, control the inflation rate below 4% as the National Assembly requested, and continue to maintain economic-recovery policies including passed economic stimulus packages and remaining the interest at a low rate. Nevertheless, international embargoes will affect Russian investments in Vietnam (most of them are electric and oil projects), tourism will also lose its traditional Russian customers. Additionally, Assoc. Prof. Ngan affirmed that: although the Covid-19 pandemic negatively impacted a variety of economic activities, the banking system has been operating stably whose profits rose approximately 25% in 2021. In 2022, the banking field still has profits thanks to the digitalization ability and strong development of E-banking services responding to the realistic demand of society but faces challenges because of certain delays of the pandemic impacts to the credit quality, lending ability and recovery of economies.
Assoc. Prof. Tran Hoang Nguyen sharing at the Talk
Within the framework of the Talk, specialists, lecturers, and learners exchanged and discussed crucial knowledge associated with potentially increasing interest in the upcoming time because of the pressure of inflation and the reaction of commercial banks, the occupational structure of Vietnam has been shifting considerably during 2-year period of Covid-19 pandemic in addition to positive impacts from national digitalization projects passed for the Vietnamese commercial banking system, and so on.
Lecturers, learners, and students of School of banking and Assoc. Prof. Tran Hoang Ngan together answering important financial issues
Closing the “Vietnamese Finance Economics in the Post-Covid-19 Era” Talk, lecturers, learners, and students of School of Banking updated usefully the financial statement of Vietnam and the world. To promote this spirit, The scientific talk series of School of Banking in 2022 is going to take place periodically in the upcoming time with paramount and practical information.
Delegates taking a memorable photo together
On the journey aiming at a Multidisciplinary and Sustainable University, School of Banking in particular and University of Economics Ho Chi Minh City, in general, is unstoppably making efforts to advance the quality of teaching, researching, and organizing university/ city/ national conferences and talks to update knowledge regarding the market and find out solutions contributing to the eco-social development of the country.
News, photos: School of Banking, Department of Marketing and Communication
