Experts discussed the impacts of climate change on economic development in Vietnam using the Computable General Equilibrium (CGE) model at an international workshop at the Foreign Trade University (FTU) on September 30.

Delegates signed an agreement  on cooperation in research and education
to tackle the impacts of climate change on economic development in Vietnam.
(Photo courtesy of FTU) 

CGE is an economic model that uses actual economic data to estimate how an economy might react to changes in policy, technology or other external factors. Applying the CGE model, the impacts of climate change on economic development has been analysed through changes to the productivity, output, quality and structure of the agricultural sector and its sub-sectors.

“Climate change needs urgent attention at global, regional and national levels. Developing countries like Vietnam are the most vulnerable to climate change because they lack the knowledge and capacity to cope with its negative impacts,” said FTU Deputy Rector Pham Thu Huong.

 Huong said the workshop would open a new chapter for studies on climate change in Vietnam.

 Presentations at the workshop focused on building models to evaluate the impacts of climate change on various aspects of economic development in Vietnam.

 Participants also discussed policies and recommendations to adapt to climate change in Vietnam.

 At the event, the FTU, the Centre for Data Science and Service Research - Graduate School of Economics and Management of Tohoku University (Japan), the Faculty of Economics and Business Management of National University of Laos, and the Climate Change Research Centre at the Vietnam Institute of Meteorology, Hydrology and Climate Change signed an agreement on furthering co-operation in research and education on climate change and economic development. They also launched a network to expand joint research and education on climate change.