On March 15 and 16, 2022, the Vietnam Academy of Social Sciences (VASS) and the World Bank in Vietnam successfully held the Seminar "Vietnam Poverty and Equity Assessment 2022: From the Last Mile to the Next Mile." The virtual event was organized on VASS's behalf by the Centre for Analysis and Forecasting.
Dr. Dang Xuan Thanh, Vice President of the Vietnam Academy of Social Sciences, welcomed all participants to the international knowledge exchange initiative between experts from the Vietnam Academy of Social Sciences and the World Bank, as well as many experts from the country's research institutes and universities. Dr. Dang Xuan Thanh's speech emphasized the two sides' scientific cooperation in poverty and equity assessments over the last 20 years.
Ms. Rinku Murgai, Head of the World Bank's Poverty and Equality Department for the Asia Pacific Region, also delivered the opening remarks, emphasizing the importance of the report "Vietnam Poverty and Equity Assessment 2022" and policy recommendations for Vietnam's future development.
The World Bank's expert group in Washington DC (USA) and Vietnam, which prepared the report, shared the main findings in two sessions: updating poverty and equity achievements in the decade 2010-2020 and key issues in poverty reduction policy making in Vietnam's upcoming journey. Dr. Matthew Wai-Po, Lead Economist, and Dr. Judy Yang, Senior Economist in the World Bank's Department of Poverty and Equity, presented findings on recent trends in poverty reduction and equality in Vietnam, as well as the way forward in this and future decades.
More than 70 researchers from the Vietnam Academy of Social Sciences, including the Institute of Economics, the Center for Analysis and Forecasting, and the Regional Institute for Sustainable Development, as well as the Institutes of Northeast Asia, Southeast Asia, the Southern Regional Development Research Institute, the Mekong Development Research Institute, and many other research institutions, attended the seminar online.
Experts in poverty and equity analysis exchanged information, ideas, and methodologies, as well as discussions on policy directions to reduce poverty and inequality in Vietnam in the coming years. According to experts, the most important factor for Vietnam to achieve ambitious development goals is labor productivity. The discussion centered on determining the contributions of demographic characteristics, labor market participation, employment and productivity to poverty reduction. Findings on social protection were also discussed, specifically the flaws in this system that were visible during the COVID-19 pandemic, which disproportionately impacted vulnerable households and informal workers. The interaction of economic mobility, labor market resilience, fiscal policy space, and other factors was also raised as a critical issue in policy formulation and implementation.