Rome (VNA) - Italy’s Frontera onlinenewspaper has run a story highlighting Vietnam’s great economic achievementssince it began the Doi Moi (renewal) process in 1986.

Under the title “Vietnam’s place in the AsianCentury”, the newspaper underlined that from a war-ravaged and impoverishedcountry just a few decades ago, Vietnam is now associated with hummingfactories, a swelling middle-class, and its emergence as the new export wonderof Asia. 

Apart from a brief period of economic distressand financial volatility experienced from 2009 to 2012, the country has been adevelopment role model with sustained gross domestic product (GDP) growth ofapproximately 6 percent a year, and is at the threshold of the middle-incomeclub of economies. 

With a per capita GDP of around 2,200 USD, theVietnamese are starting to experience a sustained consumption boom asdisposable income is now large enough to kickstart a surge in discretionaryspending on everything ranging from entertainment to cars and holidays. 

The newspaper wrote that with a highly strategiclocation, a young population of nearly 100 million, a highly literate andnumerate workforce, a vibrant consumer class with a demonstrated taste foradoption of new technology, Vietnam is likely to continue its pole-vaulttowards developed country status.

As the country’s economy starts to matter in theregion, so will its geopolitical significance, it said.-VNA