A container ship docks at Gemalink International Port in the southern province of Ba Ria-Vung Tau. (Photo: VNA)Kuala Lumpur (VNA) – The New Straits Times - anEnglish-language newspaper published in Malaysia on September 17 ran an articleabout Vietnam’s thriving growth during its national construction anddevelopment after wartime, in which the country is described as “a risingstar in the world”.
In the article, author Gary Lit Ying Loong, who is a retired academic from Nanyang Technological University, (NTU) Singapore, and now a visiting professor at some universities in Asia and Europe, highlighted Vietnam's economic growth with consistent gross domestic product (GDP) growth of about 6% for many years, thanks to Doi moi (Renewal) policy.
The Doi Moi policy helped to inject a newfound dynamism intoVietnam's economy in the late 1980s. The momentum for a market-driven economyaccelerated further in the 1990s.
According to the article, following market reforms, billionsof overseas investments began pouring into the country. Among them are those byGamuda Land, Petronas, and Sunway group from Malaysia and the Vietnam-SingaporeIndustrial Parks (VSIP).
It has helped to attract billion-dollar investments fromSamsung, Nike, Adidas, and others. Besides, an abundant young workforce has helped power the country's labour-intensive manufacturing sector.
“Vietnam is now arising star in the world with consistent gross domestic product (GDP) growth ofabout 6% for many years,” the article author wrote in the article.
In the past decade, the economy has created more and betterjobs, which helped improve the aspirations and living standards of its people. Famous Western brands such as Louis Vuitton, Gucci, andChanel have a presence in all major cities in the country, the article said./.
