In his speech, Mr Pincus highlighted eight proposals for Vietnam and other regional countries to develop trade activities that are favourable for human development. They include investing for competitiveness, adopting strategic trade policies, restoring a focus on agriculture, combating jobless growth, preparing a new tax regime, maintaining stable exchange rates, and cooperating with neighbours while pursuing multi-lateral relations.

Mr Pincus said, "Vietnam has succeeded in exporting farm products and crude oil, but it can't stop there. It has to diversify export products, especially sought-after products, products like information and technology equipment, computers, mobile phones and electronics."

According to the economist, aside from investment in education, particularly world-class universities to increase the country's technical capacity, Vietnam needs to have more outsourcing contracts with international heavyweights such as IBM, Cisco and Intel Group in order to create jobs and revenues.

From this year, the Asia-Pacific human development report series will be released annually in order to provide continuing analyse of critical development issues relevant at both regional and country levels.