Producing plastic components at Taiwanese-invested Seiyo Vietnam Co. Ltd in Que Vo district, Bac Ninh province (Photo: VNA)Tokyo (VNA) – Vietnam’s economic achievements after over threedecades of Doi moi (reform) were highlighted in an article published by Japanesedaily newspaper Nikkei on November 1.
Vietnam has enjoyed better economic performance after Doi Moi, the article noted,making a review of Vietnamese gross domestic product (GDP) growth in the past30 years. GDP per capita also inched up, from 471 USD in 2003 to 2,300 USD in2016.
It gave a positive outlook to the Vietnamese economy with improved businessclimate, resulting in more foreign investment flows, and two-digit growth ofexport revenue. Key economic zones and industrial areas have been welldeveloped so far.
The article also stated that Vietnam has pulled off rosy achievements inmechanism completion, which bolster the sound development of all economicsectors like industry and construction, agriculture, and services.
State-owned enterprises have undergone sweeping restructuring while the numberof private businesses has grown up significantly and foreign direct investment(FDI) capital is prioritised.
Vietnam has shown its deeper integration into the global economy as it has setup strategic partnership relations with many foreign countries. The country hasproactively contributed to the construction of the ASEAN Community and workedto accomplish domestic market mechanisms as committed to the World TradeOrganisation (WTO).
The article stated that 59 countries, including large trade partners, haverecognised Vietnam as a market-oriented economy. The country has inked tenregional and bilateral free trade agreements and completed negotiations of the freetrade deal with the EU, and is working to negotiate three other pacts.
It has joined three global value chains with the increasingly important role toglobal economy, including the food value and security chain, the energy valueand security chain, and the garment and footwear value chain.-VNA
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