Poverty in Vietnam declined substantially between 2010 and 2020 (Photo: VNA)
Hanoi (VNA) - Poverty in Vietnam declinedsubstantially between 2010 and 2020, according to a report released by theWorld Bank (WB) on April 28.
The WB’s Poverty and Equity report, “From the LastMile to the Next Mile”, says that over the past decade, the poverty rate at thebank’s 3.20 USD per day line for lower-middle income countries declined from16.8 percent to 5 percent, meaning ten million people were lifted out ofpoverty.
It assesses Vietnam’s progress in poverty reductionover the decade to 2020 and examines what is needed to sustain the upwardeconomic mobility and economic security of the millions who have left poverty.
In less than half a century since the end of the warand 35 years since the Doi Moi reforms, Vietnam has become a vibrant economyand a sought-after market to the outside world. GDP per capita (2015 US dollar)grew from 481 USD in 1986 to 2,655 USD in 2020, according to the report.
Rapid economic growth was broadly inclusive, and livelihoodsin Vietnam improved dramatically. Based on the World Bank’s Lower-Middle IncomeClass (3.20 USD/day 2011PPP) poverty line, poverty rates declined from 16.8percent in 2010 to 5.0 percent in 2020. According to preliminary estimates for2019, 5.7 percent of Vietnamese are considered multidimensionally poor.
Growth over the last decade in Vietnam was broadlyinclusive, as welfare improved across the entire economic distribution ofhouseholds. Pathways out of poverty were widespread across most groups, as manyfamilies moved out of poverty within a single generation.
At the same time, Vietnam is a lower-middle-incomecountry facing a challenging and uncharted road ahead to reaching upper-middleand high-income country levels in a shifting global economic and climaticlandscape.
Despite remarkable progress,poverty remains a key concern among the population. In a survey of citizens,from 2015 to 2020 poverty/hunger was selected as the main issue that the governmentmust tackle. When asked why poverty was the main concern, while many peopleworried about falling back into poverty, even more felt that poverty is anoverall drag on the economy and reduces national prestige.
To uphold the achievements and address challengesahead, the WB has offered a number of recommendations to Vietnam.
Illustrative image (Source: VNA)
Supporting agricultural productivity growth is keyto maintaining livelihoods for those remaining in the rural economic system inthe face of significant structural change, it said.
Access to new knowledge and innovations, including applicationof appropriate digital technologies, would support productivity growth bysubstituting for labour intensity.
To improve the participation of ethnic minorities inthe labour market, laws protecting the rights of ethnic minorities can befurther strengthened./.
Vietnam’s economic growth in the first quarter of 2022 was consolidated thanks to the solid performance of export-oriented manufacturing and recovering service sector, according to the Vietnam Macro Monitoring report recently released by World Bank.
Director-General of the Vietnam Social Security (VSS) Nguyen The Manh asked the World Bank (WB) to help the agency further improve the quality and effectiveness of its social and health insurance services during his meeting with WB Country Director for Vietnam Carolyn Turk in Hanoi on April 21.
The Ministry of Transport has submitted to the Prime Minister a proposal on investment policy for a project on developing inland waterway and logistics corridors in southern Vietnam.
In Vietnam’s case, she said, President Ho Chi Minh demonstrated his strategic vision by founding the revolutionary press a century ago. The late leader understood the press's role not only as a means to reflect the country’s realities but also as a powerful tool to strengthen national unity and inspire the resistance wars and national construction process.
In recent interviews granted to the Vietnam News Agency (VNA)'s reporters in Mexico, prominent figures reflected on the press’s legacy and its global influence.
VietnamPlus e-newspaper of the VNA clinched an A prize in the “Outstanding Press Product” category for its immersive 3D multimedia project, “Epic of Reunification,” a groundbreaking blend of storytelling and technology. The VNA won another A prize for its eye-catching exhibition booth.
Today, the press for foreign service has evolved into a distinct, irreplaceable force, bridging Vietnam with the world and portraying a nation that is stable, peace-loving, and fully integrated into the international community.
At a review conference held on June 21, Deputy Minister of Construction Nguyen Van Sinh praised the province’s scientific, coordinated, and flexible approach. He noted that the early completion reflects the strong commitment of local authorities, the business community, philanthropists, and residents in improving housing conditions for disadvantaged groups.
The VNA delegation, led by General Director Vu Viet Trang, actively participated in the event, engaging in both professional and diplomatic activities.
In the context where AI dominates and produces vast volumes of content, the only sustainable path forward for journalism is to focus on high-quality content and core values. Journalism must redefine its mission - not to report the fastest, but to provide the most profound and trustworthy value.
Granma and the VNA have great potential for cooperation, especially in sharing content regularly, so that VNA products are published on Granma platforms and vice versa, thereby helping Cuban and Vietnamese people access true information and gain a deep understanding of each other's country and people.
During his stay in China’s Guangzhou city from 1924 to 1927 to prepare for the establishment of a Communist Party to lead Vietnam’s revolution, President Ho Chi Minh founded “Thanh nien” newspaper and released its first issue on June 21, 1925.
Vietnam and Cambodia are hoped to strengthen their robust collaboration across various sectors, particularly in resolving remaining border issues to transform the border area into a zone of peace, friendship, cooperation, and development.
The strategic product, managed and operated by the Vietnam News Agency Digital Media Centre (VNA Media), is an official channel for popularising the Party and State’s information and documents as well as delivering mainstream and trustworthy news to both domestic and international audiences through various kinds of multimedia formats.
Since President Ho Chi Minh founded Thanh Nien (Young People) newspaper in 1925, the Vietnamese revolutionary press has become the voice of the people. During the resistance war against the colonialists, journalists took great personal risks to inspire patriotism and the will of rising up against foreign invaders.
The total investment exceeded 319 billion VND (12.2 million USD), including over 261 billion VND from the state budget and 57.5 billion VND mobilised from businesses, organisations, and individuals.
The Mekong Delta province of Tien Giang is intensifying efforts to combat illegal, unreported and unregulated (IUU) fishing as part of the country’s goal of having the European Commission’s “yellow card” warning lifted.
Throughout its 80-year history, the VNA has remained at the forefront of information dissemination. It has consistently delivered timely, accurate, and objective reports on both domestic and international events, serving the Party’s leadership, the State’s management, and the public’s demand for official news.
With strong support from local authorities, businesses, organisations, and residents, the province has successfully built or repaired 10,707 homes for disadvantaged households, including war veterans, families of martyrs, ethnic minority people, and low-income residents.
Throughout its resistance against colonialists and imperialists, Vietnam developed a revolutionary press that has served as a benchmark for just and legitimate causes worldwide.
Founded in 1842, the Vienna Philharmonic is regarded as a cultural ambassador of Austria, with prestigious conductors like Mahler and Karajan who shape its legacy. Its New Year’s Concert, broadcast to over 90 countries annually, stands as a global symbol of classical music excellence.
Poverty in Vietnam declined substantially between 2010 and 2020 (Photo: VNA) 
Illustrative image (Source: VNA) 
