“Doi Moi” (Renewal) policy, launched during the sixth National Party Congress in 1986, has helped Vietnam record remarkable, comprehensive and historical achievements, with a high economic growth, people’s better living conditions and stable socio-political situation, expanded foreign relations and enhanced international prestige.
The country’s achievements have once again testified to the fact that the Communist Party of Vietnam (CPV) is the only organisation and force leading the revolution and the entire people to obtain glorious successes over the past 90 years.
2020 is a tough year for Vietnam, yet the economy has reaped remarkable achievements. Experts have been optimistic about Vietnam’s economic growth in 2021.
Foreign diplomats in Vietnam have provided opinions on Vietnam’s achievements during its period of “Doi moi” (renewal), most notably its economic development, containment of the COVID-19 pandemic, and the forward momentum of the country.
The Central Institute for Economic Management (CIEM) introduced two scenarios for Vietnam’s economic growth this year during a seminar on January 15, with the economy forecast to expand 5.98 percent in H1 and 6.46 percent in H2.
A leading Russian expert on Vietnamese studies expressed his belief in a bright future for Vietnam in an article published in the “Multipolar World” magazine on January 12.
The Rusvesna (Russian Spring) e-newspaper on January 11 ran an article expressing impression on Vietnam’s achievements in economic development, poverty reduction, COVID-19 prevention and control and foreign affairs under the leadership of the Communist Party of Vietnam (CPV).
Vietnam among very few countries to post GDP growth rate of 2.5-3 percent, and the signing of the Regional Comprehensive Economic Partnership (RCEP) agreement in 2020 when Vietnam assumes ASEAN Chairmanship are among the top 10 domestic economic events in the year. The following are the ten outstanding events as selected by the Vietnam News Agency.
The collective economy and cooperative contribute directly 4.8 percent to the national Gross Domestic Product (GDP).
Though COVID-19 has sent the global economy into one of its worst recessions ever, Vietnam posted GDP growth of 2.91 percent in 2020 thanks to its solid control of outbreaks and timely support to both enterprises and local people.
Vietnam has emerged as an economic bright spot with a growth rate of 2.91 percent in 2020, which is attributable to the country’s efforts in containing COVID-19 and timely support policies to people and businesses, international organisations said.
Vietnam posted the fastest growth in Asia in 2020 and will once again be among the most outstanding performers in the region this year, according to the Hong Kong Shanghai Banking Corporation (HSBC).
The East Sea is a semi-closed expanse of water abutting seven countries - Vietnam, China, the Philippines, Malaysia, Brunei, Indonesia, and Singapore. It is not only crucial for their development but also a strategic link in several international maritime routes. The sea holds several strategic benefits that are eyed by global powers.
The COVID-19 pandemic has cast a long shadow and created uncertainty over the global economy. The signing of the Regional Comprehensive Economic Partnership (RCEP), however, offers a beacon of hope, as it marks a victory for multilateralism and free trade regionally and globally.
Foreign media view 2020 as a truly special year for Vietnam as the country has not only performed the dual role of ASEAN Chair and a non-permanent member of the UN Security Council (UNSC) but also done a good job of concurrently containing COVID-19 and sustaining economic growth.
Vietnam’s economy is expected to move to the 19th position in the rankings of the World Economic League Table in 2035, according to the Centre for Economics and Business Research (CEBR).
Vietnam is considered one of the 10 nations with the highest gross domestic product (GDP) growth in the world in 2020 and one of the 16 most successful emerging economies, Party General Secretary and State President Nguyen Phu Trong has said.
With a thriving economy, stable political system, and a rich culture, Vietnam has been a secure home for not only Vietnamese but also many international friends.
The Regional Comprehensive Economic Partnership (known as the RCEP), which was signed on November 15, is the largest free trade agreement in the world. While offering substantial opportunities to Vietnamese exporters, it will also make the competitive landscape even fiercer, both at home and abroad.
Vietnam is situated within the most dynamic maritime transport network in the world. With a coastline of over 3,200 km, the country boasts huge potential for the development of sea transport and other maritime services.