November 22, 2017 | 21:10 (GMT+7)
Singapore press hails Vietnam’s economic reform
The urbanization rate in Vietnam grew rapidly in the past decade from 30 percent in 2007 to 40 percent in 2017, according to Singapore-based United Morning Post.
A corner of Ho Chi Minh City, which is striving to turn itself into a smart city
In an article about Vietnam’s
economic reform and hosting of APEC Year 2017, the newspaper cited data
demonstrating the country’s progress since the beginning of reforms in 1986. Vietnam’s
growth rate was 2.79 percent in 1986, soared to 7.36 percent three years later
and now consistently hovers around 7 percent.
The paper said by hosting the APEC
2017 Economic Leaders’ Week in Da Nang,
Vietnam
introduced to international friends a dynamic and vibrant city. Da Nang is a small image of Vietnam, reflecting the
achievements the country has obtained from reforms and economic integration in
the past ten years, it noted.
The article also pointed to a number
of challenges facing Vietnam,
such as uneven socio-economic development, outdated infrastructure, corruption,
and inflation.
In conclusion, it attributed the
country’s robust growth to its progress in regional and global integration.
Since 1990, Vietnam
has become members of the Association of Southeast Asian Nations, the
Asia-Pacific Economic Cooperation (APEC) and the World Trade Organization (WTO).
Source: VNA