People at heart of Vietnam’s developmental success: South African paper

Pretoria (VNA) – The Diplomatic Society, a newspaper with printed and online versions popular in the diplomatic and political communities of South Africa, on January 28 published an article highly valuing 35 years of Vietnam’s innovative development under the leadership of the Communist Party of Vietnam (CPV).

According to this article, the acknowledgment that the people are at the heart of the developmental success of Vietnam’s emergence is the basis of the CPV’s 13th National Congress. The grand opening of the congress in Hanoi on January 26 was attended by 1,587 delegates who represent more than 5.1 million members. The delegates will reflect on the outcomes of the policy of Doi Moi (renewal), which transformed the country to follow the path of a socialist-orientated market economy.

It noted that 2020 can be considered the most challenging year in the build-up to the 13th National Congress. 

As the viral COVID-19 pandemic spread across the world it has caused many deaths and affected the health of many more. Further, it has affected human activity, and in some instances, brought it to a complete standstill. Vietnam’s response to the pandemic has been exemplary and commended by the World Bank for acting with urgency to reduce the spread of the virus and minimising deaths and illness caused by the virus even though it shares a border with China, where the virus was first discovered.

Economic growth in Vietnam was calculated at 2.91 percent, the second highest in the world even as the disease sent other advanced economies into a tailspin with many registering negative double digit growth figures. This can be attributed to the governance of the Party and the will, discipline and resilience of the Vietnamese people and their trust in the leadership, The Diplomatic Society wrote.

The International Monetary Fund (IMF) projection for Vietnam’s rate of growth for 2021 is 6.7 percent and per capita income is set to increase to 2,900 USD. Through synchronising infrastructure, industrialisation and modernisation, and combining production with the market, Vietnamese manufactured goods can be found in over 200 countries and regions around the world. 

The role of the CPV in extending, increasing international relations, and developing new partnerships through various bilateral and multilateral forums has boosted the country’s global geo-political status, the newspaper went on.

Vietnam has been ranked among the top 10 fastest growing countries in the world over the past five years and is one of the 16 most successful emerging economies. In 2020, the opening up of the Vietnamese economy has resulted in the creation of more than 8 million new jobs and average income increased by nearly 145 percent. Vietnam is also recognised as becoming a “manufacturing hub” in the Asia-Pacific region as it takes the fourth spot in economic size in Southeast Asia.

The CPV’s 13th National Congress will lay out a framework and direction for Vietnam’s development over the next five years, and the new elected leadership will have to implement the decisions taken. Key to this is the 3,260km coastline that has 44 sea ports to drive Vietnam’s path to develop into a significant maritime nation by 2030.

Concluding the article, The Diplomatic Society noted as self-reliance as a nation becomes central to its wellbeing, it also resonates with the self-sufficiency of individual citizens. Changing consumption habits, diversity in connection, communication and information access is leading to integrated monetary exchange mechanisms and the creation of innovative revenue streams generated from enterprising digital platforms and applications. This is well noted in reports and bodes well for Vietnam’s preparedness for the new industrial revolution./.