According to Pradhan, Vietnam has achieved many significant milestones this year, particularly in the areas of economy, diplomacy, and defense.
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Vietnam has achieved many significant milestones this year, particularly in the areas of economy, diplomacy, and defense. |
Regarding economic development, Vietnam's growth rate reached nearly 7%. It’s amazing, especially amidst a currently unfavorable global economic environment. By the end of this year, Vietnam's GDP is projected to reach approximately 469 billion USD, with per capita income around 4,649 USD.
Pradhan identified four key factors that have helped Vietnam achieve these accomplishments. They are bold economic reforms; creating a favorable environment for business activities, attracting foreign direct investment (FDI) and companies relocating production bases; building a skilled workforce; and integrating into global trade and production activities.
The Indian expert also noted the positive impact of Vietnam's developing middle class, leading to higher domestic consumption and boosting retail, real estate, and service sectors.
According to Pradhan, a crucial aspect contributing to Vietnam's economic development is its determination to combat corruption. He believed that Vietnam has become a model of economic growth, recognized by both the World Bank (WB) and the International Monetary Fund (IMF).
In terms of diplomacy, Vietnam continues to maintain the “bamboo diplomacy" initiated by Party General Secretary Nguyen Phu Trong.
In a short period, Vietnam has developed its relations to a Comprehensive Strategic Partnership with the U.S., Japan, the Republic of Korea, Australia, France, and Malaysia. Previously, Vietnam had established Comprehensive Strategic Partnerships with Russia, India, and China.
Party General Secretary To Lam has continued to promote the policy of late General Secretary Nguyen Phu Trong. In recent months, Vietnam has signed Comprehensive Strategic Partnerships with France and Malaysia. This acknowledges the contributions of Vietnamese policymakers, who are following President Ho Chi Minh’s thought of "more friends, fewer enemies." Importantly, Party General Secretary To Lam believes that Vietnam's development path cannot be separated from the general trends of the world. This perspective is highly appreciated, according to the Indian politician.
To maintain the momentum of development in 2024 and achieve even greater successes in 2025, Pradhan believed that Vietnam needs to continue its policies in the economic and diplomatic fields while paying more attention to security aspects.
He also suggested Vietnam focus on developing renewable energy and creating trading hubs by developing ports. Vietnam should also pay attention to preserving resources from the Mekong River and undersea mineral resources to ensure sustainable development.
Source: VNA