Radio Australia hails Viet Nam's economic growth
Viet Nam has changed from inside out over the last 30 years and has surpassed its neighbouring countries in many areas, the station said. The country is now one of the fastest growing economies after China, with growth rate in 2006 that hit 8.4 percent and is likely to become another economic tiger in Asia, the station reported.
A bright future is waiting ahead for Viet Nam, which is largely thanks to ever-increasing FDI and export turnover, the bulletin said, adding that Viet Nam is about to attract 20 billion USD of FDI this year, almost doubling last year’s figure.
According to Radio Australia, foreign investors are pouring into Viet Nam as the government has made great strides in shifting to a market-orientated economy from a demand-supply economy.
As part of its commitments for WTO accession, the Vietnamese Government has passed new laws and regulations to make its trade-related legal system more compatible with international standards. It is also stepping up the equitisation process of major state-owned companies.
The bulletin also pointed to the improved image of Viet Nam in the political arena, especially after it joined the World Trade Organisation in November 2006, citing recent visits by leaders of powerful countries to Viet Nam, such as those by US President George W. Bush, Chinese President Hu Jintao and Russian President Vladimir Putin.
A July 16 The Oxford Analytica website also has an article on Viet Nam’s impressive ecnomic development pace over the last decade. It said the country had maintained an average growth rate of 7.5 percent, which is expected to stay unchanged until 2020 and a 20 percent year-on-year increase in export revenues.
The website also praised Viet Nam for progresses in infrastructure construction, including the government’s announcement of a massive infrastructure plan in which 31 major projects will be completed by 2020 with a combined capital of 68 billion USD. (VNA)
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