(VOVWORLD) - After a challenging year in 2023, Vietnam's economy has shown signs of recovery in 2024, thanks to decisive, dynamic, and effective actions and direction by the Vietnamese Government, according to Professor Chu Hoang Long, Director of the Vietnam Policy Research Centre at the Australian National University.
 Electronic components are manufactured at Youngbag ViiNa Company, Binh Xuyen Industrial Park, Vinh Phuc province. (Photo: VNA) |
Long, who is Vice Chairman of the Vietnam-Australia Intellectuals and Experts Association, said Vietnam is one of the fastest-growing economies in the Asia-Pacific region and the best performer in Southeast Asia, with GDP growth predicted to reach 6.8-7% this year, exceeding the National Assembly's target of 6-6.5%.
He credited the positive results to Vietnam’s dynamic political apparatus, demonstrated by Vietnam upgrading its strategic partnerships with many countries and playing a larger role in international forums like the Asia-Pacific Economic Cooperation, the World Economic Forum, the G20 Summit, and the expanded BRICS Summit.
Professor Long cited several strong drivers sustaining Vietnam’s growth next year, highlighting the streamlining of Vietnam’s political system, the biggest reform since the 1986 renewal. He said he sees the move as the start of a second renewal which will lead to breakthroughs in institution building and lay a solid foundation for long-term economic growth.
Long also cited Vietnam’s abundant and dynamic workforce and efforts to develop the nation’s infrastructure.