QUOTE
The British Economist magazine recently run an article about the Vietnamese economy, affirming that Vietnam has one of the highest growth rates in Asia. Foreign direct investment (FDI) in Vietnam accounts for more than eight percent of gross domestic product (GDP) in 2003, even higher than that of China in terms of proportion. However, this is not a surprise as Vietnam has always maintained an economic growth rate of 7.4 percent during the past 10 years. Such a growth rate is also predicted for this year. Thanks to the continued growth rate, the lives of Vietnamese people throughout the country have been constantly improved.
According to the World Bank (WB), in 1993, 58 percent of Vietnam’s population was the poor. By 2002, that figure fell to 29 percent.
Vietnam’s growth rate is sustainable, the article said. Despite having been seriously affected by SARS in 2003 and the bird flu epidemic in 2004, the Vietnamese economy has maintained a high growth rate. Even towards the end of the 1990s, when the monetary crisis in South-east Asia started in Thailand in 1997 and drove regional economies to the brink of regression, Vietnam’s growth rate never dropped below 4.8 percent.
The article quoted Associate Professor Dr Do Duc Dinh, Deputy Editor in chief of the World Economic magazine run by the Institute of the World Economy, Science and Society of Vietnam, as saying that Vietnam’s export turnover in 2003 reached almost US$20 billion.
Worth of note was that exports to the US doubled in 2003 from 2002 following the signing of the bilateral trade agreement (BTA). Regardless of US lawsuits against Vietnam for dumping catfish and shrimp on its markets and the imposition of garment and textile quotas on Vietnamese businesses, exports are continuing to remain healthy.
From 2001-2003, Vietnam’s garment and textile exports to the US marked a sharp increase, from US$47 million to US$2.4 billion.
The sharp increase was attributable to improvements in State policies on agriculture and land allocation to poor farmers and high export growth rates on the back of a cheap workforce. In addition to this, the promulgation of the Enterprise Law in 2000 facilitated small businesses’ activities and created more jobs for workers, thus making substantial contributions to the growth rate of the national economy. Under the Enterprise Law, more than 50,000 enterprises were set up in Vietnam in late 2002.
Vietnam is seen as a champion among developing countries
The 2004 Vietnam Report released by the United Nations Development Program (UNDP) has highlighted Vietnam’s achievements in poverty reduction as the first and largest goal of eight Millennium Development Goals (MDGs). MDGs were pledged by State President Tran Duc Luong and leaders from 188 nations around the world in 2000.
Vietnam has made great strides in primary school education, clean water supplies, environmental protection, food security and reduction of mortality rate for children under five years old and mothers as well as improvements in the birth rate.
These achievements are very impressive as Vietnam’s per capital income stands at only US$400 per year. Vietnam has intensified huge investments in human resource development and illiteracy eradication across the country to lay a firm foundation for later successes in the renewal process, which was initiated in 1986. The UNDP report said during the past 15 years, thanks to continued economic growth, Vietnam is regarded as a champion among developing countries. It has reduced the poverty rate by a half, from 70 percent in the 1980s to around 29 percent in 2002. The achievement has helped Vietnam move closer and closer to MDGs targeting poverty reduction
According to the World Bank (WB), in 1993, 58 percent of Vietnam’s population was the poor. By 2002, that figure fell to 29 percent.
Vietnam’s growth rate is sustainable, the article said. Despite having been seriously affected by SARS in 2003 and the bird flu epidemic in 2004, the Vietnamese economy has maintained a high growth rate. Even towards the end of the 1990s, when the monetary crisis in South-east Asia started in Thailand in 1997 and drove regional economies to the brink of regression, Vietnam’s growth rate never dropped below 4.8 percent.
The article quoted Associate Professor Dr Do Duc Dinh, Deputy Editor in chief of the World Economic magazine run by the Institute of the World Economy, Science and Society of Vietnam, as saying that Vietnam’s export turnover in 2003 reached almost US$20 billion.
Worth of note was that exports to the US doubled in 2003 from 2002 following the signing of the bilateral trade agreement (BTA). Regardless of US lawsuits against Vietnam for dumping catfish and shrimp on its markets and the imposition of garment and textile quotas on Vietnamese businesses, exports are continuing to remain healthy.
From 2001-2003, Vietnam’s garment and textile exports to the US marked a sharp increase, from US$47 million to US$2.4 billion.
The sharp increase was attributable to improvements in State policies on agriculture and land allocation to poor farmers and high export growth rates on the back of a cheap workforce. In addition to this, the promulgation of the Enterprise Law in 2000 facilitated small businesses’ activities and created more jobs for workers, thus making substantial contributions to the growth rate of the national economy. Under the Enterprise Law, more than 50,000 enterprises were set up in Vietnam in late 2002.
Vietnam is seen as a champion among developing countries
The 2004 Vietnam Report released by the United Nations Development Program (UNDP) has highlighted Vietnam’s achievements in poverty reduction as the first and largest goal of eight Millennium Development Goals (MDGs). MDGs were pledged by State President Tran Duc Luong and leaders from 188 nations around the world in 2000.
Vietnam has made great strides in primary school education, clean water supplies, environmental protection, food security and reduction of mortality rate for children under five years old and mothers as well as improvements in the birth rate.
These achievements are very impressive as Vietnam’s per capital income stands at only US$400 per year. Vietnam has intensified huge investments in human resource development and illiteracy eradication across the country to lay a firm foundation for later successes in the renewal process, which was initiated in 1986. The UNDP report said during the past 15 years, thanks to continued economic growth, Vietnam is regarded as a champion among developing countries. It has reduced the poverty rate by a half, from 70 percent in the 1980s to around 29 percent in 2002. The achievement has helped Vietnam move closer and closer to MDGs targeting poverty reduction
I see some people have nothing better to do than just come in and put down other people's nation... 
