On November 23 and 24, 2023, the National Economics University in collaboration with the Australian National University will co-organize the 6th International Conference with the theme "Contemporary Issues in Economics, Management and Business - 6th CIEMB 2023". This is the largest annual international conference organized by National Economics University, attracting great attention of domestic and international scientists.
The conference attracted great attention from domestic and international scientists
Attending the seminar were the main speakers who are the world's leading economic experts, including: Prof. Ippei Fujiwara - Australian National University; Prof. Peter J. Morgan, Asian Development Bank Institute; Prof. Roman Matousek - Queen Mary University of London, England. On the side of the National Economics University, there is Prof. Dr. Pham Hong Chuong - President; ASS. Dr. Nguyen Thanh Hieu - Vice President; Prof. Dr. To Trung Thanh - Head of Science Management Department; Prof. Dr. Tran Tho Dat - Chairman of the Science & Training Council; ASS. Dr. Nguyen Thanh Ha - Chairman of the Advisory Council; together with representatives of departments, faculties, institutes, centers, experts in fields related to economics, administration and business; scientists, policy makers, business representatives from countries and territories around the world.
Prof. Dr. Pham Hong Chuong - Rector of National Economics University spoke
Welcoming remarks, Prof. Dr. Pham Hong Chuong shared that since 1956, National Economics University has made efforts to develop to achieve outstanding achievements in research in economics, public administration, and business administration, becoming one of the leading universities in Vietnam. With a tradition of comprehensive research and educational programs, National Economics University attaches great importance to academic cooperation and has established close relationships with leading domestic and international research institutions, along with governmental and non-governmental organizations. Every year, the university's series of international seminars and conferences attracts scholars, researchers and policymakers worldwide. "These programs have laid a solid foundation for developing comprehensive collaboration, creating a lot of research value and policy applications. We believe in the ability of scientific research to simultaneously develop the university's training function and find practical solutions to world challenges", Prof. Dr. Pham Hong Chuong said.
Prof. Pham Hong Chuong affirmed that CIEMB is one of the outstanding international events at the National Economics University. Through the conference, the university wishes to build a forum for scholars in the fields of economics, business and management to present and exchange their research. The conference aims to promote discussion around contemporary issues in economics, management, and business, as well as the search for solutions that promote sustainable growth and development on a global scale.
The 6th international conference "Contemporary Issues in Economics, Management and Business" received more than 150 research papers from scholars, researchers, policy makers, and lecturers from Vietnam and many countries around the world such as Australia, Czech Republic, Canada, France, Hungary, India, Indonesia, Japan, South Korea, Malaysia, South Africa, United Kingdom. Through a rigorous evaluation of theory and research methods, more than 80 papers were selected to be presented in 22 simultaneous discussion sessions in a variety of fields such as accounting, finance, banking, business administration, development economics, macroeconomics, etc marketing, science and technology and microeconomics.
Prof. President hoped that the 6th CIEMB would be an opportunity for researchers and policy makers to share the latest innovations and build dialogues on research that is in progress, along with that "From the extensive insights of speakers and researchers, I believe that we will have a fuller knowledge in contemporary issues of economics, management, and business. This conference will continue to be a demonstration of development cooperation activities between National Economics University and universities around the world", Prof. Pham Hong Chuong affirmed.
Prof. Dr. Pham Hong Chuong - Rector of National University of Science and Technology presented certificates and flowers to thank the keynote speakers
Prof. Ippei Fujiwara - Australian National University presented a presentation with the topic "Building Vietnam's economic model"
Prof. Peter J. Morgan from the Asian Development Bank Institute presented an online presentation on "Fintech, financial inclusion and financial literacy: What we know"
At the conference, scientists also made a number of quantitative forecasts about the contribution rate of the digital economy in the economy as well as the impact of the digital economy on productivity as well as the competitiveness of the economy. Many experts also realize that the digital economy has a very strong impact on enhancing the competitiveness of the economy as well as labor productivity of enterprises.
Prof. Peter J. Morgan of the Asian Development Bank Institute (ABDI), emphasized that fintech is changing finance in fundamental ways, from investment management to capital raising to the form of currency itself. The fintech company has dismantled barriers and expanded access to financial services and challenged the traditional understanding of how finance works.
From an international perspective, Prof. Roman Matousek from Queen Mary University, UK said: The global economy faces many difficulties with a slowdown in growth, fiscal deficit, inflationary pressures and interest rate hikes. "This will affect macroeconomic balances and there may even be the emergence of a 'Minsky moment' (which is the end of an economic boom cycle that encouraged investors to take excess risk, resulting in lending that exceeds what borrowers can pay) in many European countries when the value of assets production declined rapidly due to unsustainable corporate and household debt," noted Professor Roman Matousek.
Experts said that after the effects of the Covid-19 pandemic, emerging markets such as Vietnam showed stronger resilience. However, many signs of economic slowdown have affected the GDP growth of countries around the world. Experts also recommend the situation of "zombie" businesses - businesses that have difficulty in repaying debts due to the lack of profits and low market valuations but live on supportive policies and cheap credit. In fact, this is also an issue recommended by many domestic experts, because the existence of this number of businesses will make the support policy not on target and promote the overall efficiency of the economy. These businesses also affect efforts to restructure businesses, transform growth models... not creating motivation for innovation, creativity, increasing competitiveness.
Prof. Roman Matousek - Queen Mary University (University of London, UK) presented a presentation with the topic "Financial fragility after the Covid-19 pandemic: Lessons from developed economies"
22 parallel discussion sessions were conducted on in-depth topics of economics, governance and business
Sharing on the sidelines of the workshop, Prof. Dr. To Trung Thanh - Head of Science Management Department said: "At the conference, many speakers and experts exchanged and shared research on digital economy and realized that digital economy has a very strong impact on enhancing the competitiveness of the economy, as well as labor productivity of enterprises". In a period when the economy is facing problems of declining aggregate demand and the possibility that this year's economic growth will not reach the target, the digital economy will be one of the issues that need attention. Because the basic digital economy will have a profound and long-term impact on the total supply of the economy, helping to grow sustainably. "The digital economy is now one of the very important growth engines of the economy, especially when the traditional growth engines are gradually drying up." However, according to Prof. To Trung Thanh is just over a month away from the end of the year, some important elements of aggregate demand such as consumer investment and trade balance have not reached the target growth rate. Therefore, the rest of the year needs to take steps to maintain and strengthen aggregate demand.
Prof. Dr. To Trung Thanh said that the Government had had many good policies to support businesses such as tax reduction, interest rate reduction, administrative procedure reform ... But the implementation of policies at all levels has not really been fully effective. Offering solutions for the economy to grow in a sustainable way, Prof. Dr. To Trung Thanh, said that in 2024, along with promoting the development of the digital economy, increasing aggregate demand, it is necessary to focus on supply-side policies such as institutional as well as legal improvements, creating the best environment for all sectors of the economy, Especially the private sector is currently in sharp decline. "In fact, many policies are not completely directed towards the private sector, especially for small and medium enterprises that are finding it difficult to access resources in terms of capital, land... How to create for businesses an equal and most favorable business environment, that is a positive and long-term solution". In addition, enterprises themselves need to actively innovate production and business models, restructure businesses based on digital platforms, implement digital transformation to improve productivity and competitiveness...
ASS. Dr. Bui Duc Tho - Party Secretary, Chairman of the School Board and Assoc. Dr. Nguyen Thanh Hieu - Vice Rector awarded certificates to the authors with the best articles
ASS. Dr. Nguyen Thanh Hieu - Vice President delivered closing remarks
Also within the framework of the conference, the speakers: Dr. Pham Hung Hiep - Director of REK Institute for Research and Knowledge Exchange, Chengdu University; TS. Duong Hai Long - Director of Data Science, FuturProof Technologies, USA; ASS. Dr. Binh Bui - Macquarie University, Australia also shared at the high-level discussion with the topic: Experience and strategies in publishing in prestigious international journals.
Some pictures within the framework of the workshop: