Vietnam not only successfully contained the pandemic but also posted a GDP growth of 2.91 percent, with the International Monetary Fund (IMF) saying it was among countries with the best economic achievements. (Photo: VNA) Beijing (VNA) - China’s Newsweek ran an article recently highlighting the positiveoutlook for Vietnam’s economy.
The articlereviewed the country’s economic development since it embarked on its “Doi moi”(Reform) cause, most notably in 2020 when the COVID-19 pandemic spread globallyand economies shrank deeply.
Vietnam not onlysuccessfully contained the pandemic but also posted a GDP growth of 2.91 percent,with the International Monetary Fund (IMF) saying it was among countries withthe best economic achievements.
The article also citeda World Bank (WB) forecast that Vietnam’s economy would grow 6.5 percentannually from 2021.
The 13th National Congress of the Communist Party of Vietnam (CPV), meanwhile, set forthstrategic targets for the short, mid, and long terms, specifically to 2025,2030, and 2045, with a focus on foreign investment attraction,scientific-technological reform, and the transformation of the digital economymodel.
Over the next twodecades, Vietnam will concentrate on industrial modernisation andscientific-technological reform, while its FDI policy will shift the focus fromquantity to quality, with attention paid to high-tech and high value-added projects.
Vietnam has thereforebegun to conduct national digital transformation and set a task of developing digital economy, digital society and digital Government while closely combining digital Government withadministrative reform, the article said, adding that transparency is considereda gauge of the efficiency of service and operational capacity of all-levelagencies.
The article alsoquoted Professor Kenichi Ohno from Japan’s National Graduate Institute forPolicy Studies (GRIPS), who is the Japanese Government’s advisor in its cooperationwith Vietnam, as saying that although Vietnam’s economy has posted rapid growthover the past years, there remain limitations in policy making.
He suggestedVietnam pay more heed to improving factors regarding production capacity suchas corporate administration, productivity at factories, worker skills, andadministrative efficiency.
Vietnam wouldbecome the biggest investment magnet in Southeast Asia once its investmentand business climate is further improved, he said./.
VNA
