23:07 | 11/04/2019

Czech newspaper: Vietnam is a successful development model

Vietnam has gained significant achievements in the cause of national development over the years, according to an article by Czech Republic newspaper Halo Noviny.


A corner of Hanoi, the capital of Vietnam (Photo: VNA)

The article published on http://www.halonoviny.cz. on April 8 said after the reunification of the country in 1975, Vietnam had to face several difficulties due to the consequences of the war.

The situation began improving after the Southeast Asian country implemented the “Doi Moi” (reform) policy in 1986, which yielded impressive results in national building and development.

Vietnam has succeeded in economic reform and foreign investment attraction and after the 1990s, its gross domestic product (GDP) has nearly tripled and the country maintained a stable annual economic growth rate of about 7.5 percent, the article pointed out.

In 2018, despite global economic fluctuations, Vietnam’s economy still expanded by 7.08 percent. With advantages of economic flexibility and low-cost labour along with investment encouragement policies, Vietnam has become an attractive destination for foreign investors.

Secondly, living standards have improved as social security situation has been ensured. In fact, more than one-third of the country’s social investment focuses on poverty reduction, human resources development, education, science-technology, healthcare and culture, the article read.

It quoted the United Nations (UN) as saying Vietnam is one of the successful countries in the world in the fight against poverty, meeting the requirements of the UN Millennium Development Goals (MDGs). Before implementing “Doi Moi”, the rate of poor households in Vietnam was 58 percent, but now the figure is less than 6 percent.

Thirdly, Vietnam’s role in the international arena has been enhanced. With an external policy of multilateralisation and diversification of international relations, Vietnam has established diplomatic ties with nearly 180 countries as well as had trade relations with more than 160 countries and territories. Vietnam became a member of the UN in 1977.

In addition, the country has signed and implemented 12 free trade agreements (FTAs) and is negotiating four bilateral and multilateral FTAs.

The article went on to say that in recent years, Vietnam has successfully organised major international events such as the 132nd Inter Parliamentary Union Assembly(IPU 132), the Asia-Pacific Economic Cooperation Forum (APEC 2017) and the 26th Annual Meeting of the Asia-Pacific Parliamentary Forum (APPF-26). Most recently, Vietnam was selected as a venue of the second summit between the Democratic People’s Republic of Korea and the US.

It concluded the accomplishments that Vietnam has gained over the past 30 years have proved it was right to follow a reform path, creating a firm foundation for the country’s stronger development and more successful integration in the future.

VNA

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