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VNU Journal of Science, Economics and Business 27 (2011) 130-134 130 A workshop to announce the 2011 Vietnam annual economic report Nguyen Thi Thuc An*, Dau Kieu Ngoc Anh Center for Journal and Publishing, University of Economics and Business, Vietnam National University, Hanoi, 144 Xuan Thuy, Cau Giay District, Hanoi, Viet Nam Received 20 May 2011 Abstract. On May 17th, the University of Economics and Business - Vietnam National University, Hanoi (VNU) collaborated with the United Kingdom Department for International Development (DFID) and the Vietnam Center for Economic Research and Policy (VERP) to organize a workshop to announce the 2011 Vietnam Annual Economic Report titled “The Economy at a Crossroad.” The report is a major product of the strategic reseach program on “Macroeconomic Theory and Policy: the Condition of Economic Integration in Vietnam” hosted by the University of Economics and Business - VNU and conducted by the VERP. This annual report reviewed major economic issues in the past year, discussed economic perspectives for the coming year, and suggested policy recommendations. Present at the workshop included leaders and representatives of governmental, policy planning, theoretical and research organizations both domestic and international. Other attendees included leaders from universities and research institutes and participants from Vietnam-based embassies, developmental organizations, associations, enterprises, banks and news agencies in the field of economics and finance in Vietnam. * The 2011 Vietnam Annual Economic Report was produced in the context of the dramatically changing global economy after two years of regression from 2008 to 2009, and with the Vietnamese economy facing new and difficult challenges resulting from a decade of growth. These challenges included a high rate of inflation, budget deficits, and trade deficits. ______ * Corresponding author. Tel.: 84-4-37547506 E-mail: anntt@vnu.edu.com These challenges have not improved, and enterprise reform has made little progress. The report consists of nine chapters and two appendices. 1. The Vietnamese economy at a crossroad Vietnamese managers and policy makers may be annoyed by the following statement “the Vietnamese economy is now at a crossroad”. This statement is not intended to criticize the transition that Vietnam is considering - to shift from a centrally planned economy into a socialist-oriented market economy - but the statement is directed at the poor management and abuse of administrative orders for an open economy that have existed in Vietnam. Dr. Nguyen Duc Thanh, the editor of the 2011 Vietnam Annual Economic Report, says: “The economy is now at a turning point and it must make a choice between various N.T.T. An, D.K.N. Anh / VNU Journal of Science, Economics and Business 27 (2011) 130-134 131 objectives. For instance, the existing economic model that was developed in the last decade, relied a lot on state-owned enterprises and considered state economic groups as the main players. This model has become very controversial as it has caused an uneven distribution of labor and explicit risks.” In fact, the existing economic model relies on increasing input. The data analyzed by the report showed that despite its growth, the Vietnamese economy hasn’t been able to satisfy practical demands. In reality, the economic development model that Vietnam has applied no longer works because, if additional resources are further pumped into the economy, inflation will increase, and macro instability and the speed of economic growth will lessen. Therefore, most of the existing policies and development models need to be changed. The quality of economic education and management of enterprises and ownership reform must be improved. There is a need to find which economic sector can lead and motivate the whole national economy. 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