German journal hails Vietnam’s effective policies towards dynamic economy

Friday, 11/11/2022 16:48
Germany’s die Welt newspaper has run an article hailing policies that Vietnam has applied over the years, describing them as the reason making the Southeast Asian country a dynamic and attractive destination for foreign investors.
Vietnam has become one of the most dynamic countries in the world .(Photo: VNA)

According to the article, Vietnam is a prime example of what the adoption of private ownership and reform of the market economy can achieve. In fact, Vietnam has eliminated extreme poverty, it noted.

It highlighted that Vietnam is nowadays one of the most dynamic countries in the world with abundant opportunities for businesses and hard-working people.

The country’s gross domestic product (GDP) has increased six folds since the beginning of its reform. From a country that was previously unable to produce enough rice for its people, Vietnam is today one of the world's largest rice exporters, and one of the most important exporters of electronics, the article noted.

It said that the sixth National Congress of the Communist Party of Vietnam in December 1986 approved a new orientation that laid the foundation for all positive changes in Vietnam since then.

Essentially, the reforms decided at the sixth Congress and developed over the following years were the promotion of market development in which the State-owned, cooperative and private sectors co-exist equally. In 1987, the Investment Law was adopted, giving a clear signal that Vietnam wants to open the door to foreign investors, allowing 100% foreign capital investment and Vietnam also ensures the safety of capital and assets of foreign investors in Vietnam, the article affirmed./.

CPV (Source: VNA)