Vietnam - a development success story
|In the latest report in April 2022, the World Bank called Vietnam a development success story.|
Assistant Deputy Minister at Global Affairs of Canada Paul Thoppil expressed his admiration at Vietnam’s socio-economic achievements over the past 77 years.
In the latest report in April 2022, the World Bank called Vietnam a development success story which transformed into a lower middle- income country in one generation from its humble beginning as one of the poorest nations globally.
Between 2002 and 2021, per capita GDP increased 3.6 times, reaching almost 3,700 USD. Poverty rates (1.9 USD per day) declined sharply from over 32% in 2011 to below 2%.
Thanks to its solid foundations, the economy has proven resilient through different crises, the latest being the COVID-19 pandemic. Vietnam fulfilled several economic targets in 2021, becoming one of the top 20 economies globally in terms of international trade.
Valeria Vershinina, an expert on Vietnam at the ASEAN Centre under the Moscow State Institute of International Relations, affirmed that Vietnam is seen as a “middle-level power” by international scholars.
Meanwhile, Canadian Ambassador to Vietnam Shawn Perry Steil regarded Vietnam as a bright example for countries worldwide to learn from experience in pandemic response while maintaining socio-economic development.
Analysts forecast that Vietnam’s economic growth this year will be high, given a record growth of 7.72% in 11 years in the second quarter which surpassed the previous prediction of 5.9%.
Harvard University’s research result showed that Vietnam is forecast to be among the fastest growing economies in the world by 2030.
Sharing the same view, UK Secretary of State for International Trade Anne Marie Trevelyan said Vietnam will be among the world’s biggest 30 economies in the end of this decade.
Vietnam has also been recognised as one of the top 10 countries to fulfill goals of gender equality promotion and empowerment for women and girls under the United Nations Sustainable Development Goals.
With Vietnam becoming a world standard for fighting the pandemic, Acting UN Resident Coordinator and UNICEF Chief Representative in Vietnam Rana Flowers said such has proved the country's efforts to promote and protect human rights.
Expressing impression on Vietnam’s determination to accomplish the dual goal of becoming a high-income country by 2045 and reducing greenhouse gas emissions to zero by 2050, UN Assistant Secretary General and UNDP Regional Director for Asia and the Pacific Kanni Wignaraja said Vietnam will show the world its own way to ensure progress for all people.