Deputy Minister Tran Quoc Phuong works with IMF expert delegation

(MPI) - On March 26, 2024, Deputy Minister of Planning and Investment Tran Quoc Phuong had a working session with the International Finance Fund (IMF) expert delegation led by Mr. Andrew Berg, Deputy Director of the Institute for Capacity Building, IMF.

Also attending the meeting were Mr. Feridhanusetyawan Tubagus, Senior Economist of the Institute for Capacity Building, IMF; representatives of relevant units of the Ministry of Planning and Investment and trainees of the Training Group to improve capacity in macroeconomic analysis and forecasting sponsored by IMF.

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Overview of the working session. Photo: MPI.

Within the framework of the Regulation on coordination in macroeconomic management and operation according to Decision No. 1317/QD-TTg dated August 6, 2013 on the project to reform the coordination mechanism in macroeconomic management and operation, the Ministry of Planning and Investment has coordinated with the IMF to organize a training program to improve the capacity of macroeconomic analysis and forecasting (Program) for officials of the Ministry of Planning and Investment, the Ministry of Finance , the Ministry of Industry and Trade and the State Bank of Vietnam.

At the working session, the Program's trainees presented the results of the course, focusing on introducing the training program; socio-economic forecasting model; preliminary results based on policy assumptions. The program started in June 2023 with 39 members from different ministries and branches and was divided into research groups including the input group, analysis group and policy group. The members participating in the training course are officials with expertise and experience in macro analysis and forecasting; young officials with tasks related to macro analysis and forecasting to receive and use the training results in the long term.

During the course, students are responsible for developing tools with technical support from IMF experts to conduct macroeconomic analysis and forecasting; analyze macroeconomic developments, forecast, assess the impact of various shocks, provide input to policy makers and participate in the policy making process.

Speaking at the meeting, Deputy Minister Tran Quoc Phuong highly appreciated the IMF's support for Vietnam in general and the Ministry of Planning and Investment in particular. At the same time, he highly appreciated the purpose and significance of the IMF's Macroeconomic Analysis and Forecasting Training Program for the 2023-2025 period for the Ministry of Planning and Investment and member agencies of Group 1317, including the Ministry of Finance, the Ministry of Industry and Trade, and the State Bank of Vietnam. Thereby, it helps trainees access and improve their professional capacity in forecasting work.

Deputy Minister Tran Quoc Phuong speaks at the meeting. Photo: MPI.

Deputy Minister Tran Quoc Phuong hopes that IMF experts will continue to impart knowledge and experience to students. At the same time, he asked students to seriously study and comprehend the lectures and make specific assumptions. Especially now, the first quarter of 2024 is about to end and the draft Outline of the 5-year Assessment Report on the implementation of the 10-year Socio-Economic Development Strategy 2021-2030, the direction and tasks for socio-economic development for the 5 years 2026-2030 are also being developed and will be widely consulted. Therefore, there will be many macroeconomic issues for students to study, from which they can give specific opinions and advice.

Mr. Andrew Berg highly appreciated the close coordination of the Ministry of Planning and Investment in implementing the contents in general and the training program in particular; highly appreciated the assessments of Deputy Minister Tran Quoc Phuong on the results of the course and expressed his impression of the young, enthusiastic team of trainees, who, through participating in the Training Program, contributed to improving the capacity of analysis and forecasting for trainees to perform better in professional work as well as policy planning advisory work.

At the same time, the IMF affirmed that it will continue to closely coordinate with the Ministry of Planning and Investment to successfully implement the training program according to the plan; support trainees in accessing, providing input information, using tools to make visual forecasts; share expertise and techniques with relevant ministries and branches so that the results of the course can be applied in practice.

Deputy Minister Tran Quoc Phuong and delegates take souvenir photos. Photo: MPI.

Up to now, the IMF has agreed to provide training support and consulting activities on macroeconomic analysis and forecasting, and financial programming for staff of units of Group 1317, as well as staff working on macroeconomic and financial analysis and forecasting with the following contents: Training program duration: 2-3 years; Training support forms: Domestic training and education through online forms; training combined with direct implementation of work with IMF experts; participation in direct training courses with IMF working groups./.

Tung Linh - Ministry of Planning and Investment

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