Australian economist hails Vietnam’s economic performance
Sydney (VNA) – An Australian economist says Vietnam has become one of the best performing economies in South-East Asia, averaging growth of between 8 and 9 percent every year.
Since Vietnam embraced the policy of “doi moi”, or economic openness, more than a decade ago, millions have been lifted out of poverty, economist Ray Mallon told the Australian Broadcasting Corporation (ABC).
The roads are now full of new cars and motorbikes, evidence that ordinary Vietnamese are becoming more prosperous, he said.
He added that overall other sectors, such as manufacturing and agriculture, are still doing very well and that employment growth is still very strong, suggesting there will be continuing strength in consumer demand.
The business spirit is alive and well, with a high level of entrepreneurial activity combined with a strong work ethic reflected, for example, in the rapid transfer of new technology, Ray Mallon said.
Mallon said the level of use of the internet as a percentage of the population is up from nothing to now higher than the Philippines and similar to that in Thailand.
Since Vietnam embraced the policy of “doi moi”, or economic openness, more than a decade ago, millions have been lifted out of poverty, economist Ray Mallon told the Australian Broadcasting Corporation (ABC).
The roads are now full of new cars and motorbikes, evidence that ordinary Vietnamese are becoming more prosperous, he said.
He added that overall other sectors, such as manufacturing and agriculture, are still doing very well and that employment growth is still very strong, suggesting there will be continuing strength in consumer demand.
The business spirit is alive and well, with a high level of entrepreneurial activity combined with a strong work ethic reflected, for example, in the rapid transfer of new technology, Ray Mallon said.
Mallon said the level of use of the internet as a percentage of the population is up from nothing to now higher than the Philippines and similar to that in Thailand.
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