(VOVworld)- Vietnam is likely to become a new processing, manufacturing center of the world and a destination for multi-national groups within the next twenty years. The statement was agreed by delegates at an international conference organized by the Vietnam Fatherland Front and the World Bank in Hanoi on Saturday.

President of the Vietnam Fatherland Front Nguyen Thien Nhan addresses the conference

VFF President Nguyen Thien Nhan said the development of the Vietnamese economy will be based on science, technology and skills. The delegates urged Vietnam to evaluate the global development trend promptly, take advantage of all resources, strengthen industrial restructuring and create a foundation for industrialization and modernization. They highlighted the importance of banking credits which hold 90% of Vietnamese enterprises’ capital resources. Governor of the State Bank of Vietnam Nguyen Van Binh said: “According to the draft document of the 12^th National Party Congress, one of Vietnam’s socio-economic development goals until 2020 is to create a foundation to develop Vietnam into a modern industrial nation. Strengthening industrial restructuring to boost national industrialization and modernization is a key solution to restructure the economy and change the growth model as well as improve productivity and competitiveness. This poses a lot of opportunities for the manufacturing sector and for Vietnam to become a processing and manufacturing center of the world”.