Labourers work at a garment factory in Hung Yen province, outside Hanoi Jan 5, 2017. (Source: Reuters)Hanoi (VNA) – International media have run articles highlighting that theyear 2017 marked Vietnam’s rapid economic growth.
In its recent article, Asian Correspondent said not only was Vietnam thetop-performer in the region, but it ranked second behind India – the onlycountry which achieved growth of over 7 percent in 2016 – in the list offastest-growing economies worldwide.
It stressed that there are multiple reasons for Vietnam’s strong performance inrecent years – especially in comparison to other ASEAN countries, including thecountry’ strategy of diversification of its economy - in terms of both therange of goods produced, and its export destinations.
According to the newspaper, Vietnam has become an increasingly attractiveinvestment destination due to its rapidly expanding population and itsdemographics, with a youthful population amounting to a large and capableworkforce, consisting of both skilled and unskilled labour. Vietnam’s geographyalso remains an important factor, with its long coastline allowing free-flowingseaborne trade with countries in the surrounding region and beyond.
Tourism is seen as is one of the main drivers of Vietnam’s economic growth,according to Mayo Advertiser tourism website. With attractions such as Ha LongBay, Hoi An town and Da Nang city, Vietnam is a perfect place for honeymoon.
Meanwhile, Forbes mentioned efforts made by the Communist Party of Vietnam infighting corruption, saying that the on-going crackdown on corruption amongVietnam’s numerous state-owned enterprises is to ensure “graft doesn’t spoilits economic miracle.”
In addition, some news agencies also stressed challenges related to economicdevelopment, education, environmental pollution and aging-population that thecountry is facing.
Asia Times said though Vietnam is growing fast on nearly all economic fronts,overcrowded roads, ports and airports threaten to throttle the expansion.
According to the General Statistics Office, Vietnam’s GDP in 2017 was estimatedto increase 6.81 percent – the highest rate in the last decade. The country isforecast to continue succeeding in attracting FDI and expanding manufacturingindustry, contributing to heighten its GDP.-VNA
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