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 positive
outlook for Vietnam’s economy.
reviewed the country’s economic development since it embarked on its “Doi moi”
(Reform) cause, most notably in 2020 when the COVID-19 pandemic spread globally
and economies shrank deeply.
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.
The article also cited
a World Bank (WB) forecast that Vietnam’s economy would grow 6.5 percent
annually from 2021.
The 13th National Congress of the Communist Party of Vietnam (CPV), meanwhile, set forth
strategic 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 economy
Over the next two
decades, Vietnam will concentrate on industrial modernisation and
scientific-technological reform, while its FDI policy will shift the focus from
quantity to quality, with attention paid to high-tech and high value-added projects.
Vietnam has therefore
begun to conduct national digital transformation and set a task of developing digital economy, digital society and digital Government while closely combining digital Government with
administrative reform, the article said, adding that transparency is considered
a gauge of the efficiency of service and operational capacity of all-level
The article also
quoted Professor Kenichi Ohno from Japan’s National Graduate Institute for
Policy Studies (GRIPS), who is the Japanese Government’s advisor in its cooperation
with Vietnam, as saying that although Vietnam’s economy has posted rapid growth
over the past years, there remain limitations in policy making.
Vietnam pay more heed to improving factors regarding production capacity such
as corporate administration, productivity at factories, worker skills, and
become the biggest investment magnet in Southeast Asia once its investment
and business climate is further improved, he said./.