Russian expert extols Vietnam’s exponential economic growth
VOV.VN - Professor Vladimir Mazyrin, Director of the Centre for Vietnamese and ASEAN studies under the Institute for Far Eastern Studies of the Russian Academy of Science has highlighted 2017 as the most successful year of Vietnam’s economy over the past decade.
 |
He cited statistics showing that Vietnam’s GDP hit close to US$220 billion, and GDP at Purchasing Power Parity neared US$600 billion.
Mazyrin attributed one of Vietnam’s important economic achievements to improvements in investment and business climate demonstrated by the inflow of investment capital amounting to US$33 billion in 2017, a year-on-year rise of 82.8%.
The country also posted the fastest-ever trade growth with import-export value is estimated at US$410 billion in 2017 and a trade surplus of about US$3 billion. Vietnam took only two years to raise trade turnover from US$100 billion to US$400 billion, he said.
He also hailed Vietnam's efforts in stabilising the macro-economy and fulfilling all its 13 socio-economic targets for the first time, noting that the attainments were thanks to the sound policies and the trend is forecast to continue for several years.
The Russian expert pointed out the challenges confronting Vietnam’s economy, suggesting that Vietnam should shift to creative economic models, improve its labour productivity and modernize its agriculture sector.