Minister of Natural Resources and Environment Tran Hong Ha on January 27 emphasised the importance of a circular economy while Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong noted the need to stay persistent in the target of keeping inflation under control and maintaining macro-economic stability.
Minister of Natural Resources and Environment Tran Hong Ha addresses the 13th National Party Congress on January 27 (Photo: VNA)
Minister of Natural Resources and Environment Tran Hong Ha on January 27 emphasised
the importance of a circular economy while Governor of the State Bank of
Vietnam (SBV) Nguyen Thi Hong noted the need to stay persistent in the target
of keeping inflation under control and maintaining macro-economic stability.
In his speech at the 13th National Party Congress, Minister Ha underlined that a circular economy is
becoming an inevitable trend to meet the requirement for sustainable
development amid worsening resource degradation and exhaustion, environmental
pollution, and climate change.
Building a circular economy
is identified as one of the national development orientations for 2021 - 2030
in the draft documents submitted to the congress, he said.
Highlighting benefits of a
circular economy, he pointed out that although after 35 years of “Doi moi”
(Renewal), Vietnam has emerged to be a bright spot of growth in the region and
the world, it is facing a number of challenges related to resource exhaustion,
pollution, environmental degradation, and climate change, which requires the
shift to a circular economy.
To promote the development of
the circular economy, it is necessary to concertedly carry out solutions,
including awareness improvement, institutional building, and enforcement, while
capitalising on cooperation opportunities in accessing and receiving
transferred technology to achieve sustainable development, the official said,
adding that the State needs to perform well its facilitating role to help
businesses and people bring into play their centrality in developing the
Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong speaks at the congress on January 27 (Photo: VNA)
For her part, SBV Governor
Hong said as the international situation is expected to remain complex and
unpredictable in the 2021 - 2025 tenure and the following years, to help
successfully carry out the banking sector’s political tasks and the congress’s
resolution, it is needed to stay persistent in the target of keeping inflation
under control and maintaining macro-economic stability.
She stressed the importance
of improving statistical, analysing, and forecasting activities; staying
proactive, prudent, and flexible in using solutions and monetary policy tools;
closely coordinating with other macro-economic policies, especially the fiscal
one, so as to enhance the economy’s flexibility and resilience in the face of
global economic and monetary changes; and raising the State’s foreign currency
It is also necessary to
tackle difficulties facing enterprises and people, assist post-pandemic
economic recovery, and boost lending for production and business activities as
well as poor households and disadvantaged groups, Hong said.
The governor also underscored
the need to enhance inspection and monitoring of credit institutions’
operations; step up the building of technological infrastructure for sharing
and supplying digital products; promote innovation and the application of the
Fourth Industrial Revolution’s achievements; work to improve the credit access
index, the business climate, and national competitiveness; and bolster
bilateral and multilateral cooperation in the banking sector.
With Vietnam’s new stature
and power, as well as the Party, National Assembly, and Government’s attention
and leadership, the banking sector is confident that it will overcome all
difficulties and challenges and fulfill the political tasks assigned by the
Party and State, thus achieving fast, comprehensive, effective, safe, and
sustainable development and better meet requirements during the country’s
socio-economic development process, she added./.