International Expert: Vietnam - a Spectacular Economic Journey

Vietnam is on a spectacular economic development journey. Many economic experts say so when talking about Vietnam's growth model in recent times.

Opinions also said that Vietnam's transformation is not only reflected in mere numbers, but also demonstrates the reform vision, deep integration strategy, and persistent efforts and solidarity of all people.

From a predominantly agricultural economy with limited resources and very low capital gains, Vietnam has emerged as one of the fastest growing economies in the world, with GDP increasing nearly 100-fold. Per capita income has increased from less than $100 to nearly $5,000, helping Vietnam enter the upper middle-income group.

Mariam Sherman, World Bank Country Director for Vietnam, Cambodia and Laos, emphasized: "Vietnam's aspirations are built on a solid foundation over the past four decades, since the Doi Moi period, achieving remarkable growth and poverty reduction. GDP has increased sharply, the economy has developed rapidly, helping millions of people escape poverty.

The extreme poverty rate has fallen from half of the country's population to 1%, making Vietnam one of the countries with the fastest poverty reduction rate ever. This success is partly due to gradual improvements in institutions and policies.

Illustration: KT

Actively participating in the global trade network, Vietnam has so far signed 17 free trade agreements with more than 60 major economies, most of which are large economies spread across continents, making Vietnam one of the world's top 20 countries in terms of international trade scale with high and stable growth rates and continuously achieving record trade surpluses.

Mr. Álvaro Pereira, Chief Economist of the Organization for Economic Cooperation and Development (OECD) in Vietnam, said: "I have followed many countries in the world, from Australia to North America, Asia to Africa and even Latin America, and very few countries have impressed me as much as Vietnam. Vietnam is growing at a very fast rate, every 10 years, the average income doubles.

This is due to excellent macroeconomic management, sound government policies and great motivation from the people. Vietnam is one of the fastest growing countries in the world today."

With these efforts, Vietnam is ranked among the top 20 global trading countries, top 20 preferred destinations for FDI and is also currently among the top 10 remittance receiving countries worldwide.

Mr. Ted Osius, President of the US-ASEAN Business Council, commented: "Vietnam has an impressive economic growth rate, a favorable business environment, and a market of 100 million people. Businesses are also very confident when they see that the Vietnamese Government has a proactive approach to prevent and respond to potential challenges.

In addition, Vietnam has a hard-working and talented workforce. American businesses are highly interested in Vietnam. They have high expectations for Vietnam's bright future."

In the context of a volatile world economy, Vietnam is facing a great opportunity to transform itself even more strongly – towards a sustainable, innovative and inclusive economy. The journey ahead will still have many challenges, but with the foundation that has been built and the aspiration for sustainable development, Vietnam has every basis to confidently integrate and affirm its position in the international arena.

According to Anh Thu/VOV1

Source: https://baovinhlong.com.vn/kinh-te/202506/chuyen-gia-quoc-te-viet-nam-hanh-trinh-kinh-te-day-ngoan-muc-62017a1/