The article, by Prof. Dr. Julio Sevares from the University of Buenos Aires, said that, thanks to the reform policy, Vietnam’s economy has grown by more than 6.5% annually in the last 15 years, and its average GDP per capita expanded nine fold to nearly US$2,200 in 2016.
Julio Sevares cited the World Bank (WB)’s statistics as stating that up to 94.3% of Vietnamese people can read and write, with the life expectancy at 72 years and the unemployment rate at 3.7%.
The country’s poverty rate dropped from 58% in 2003 to just 12% last year, he said, adding that within two decades, 25 million Vietnamese citizens escaped from poverty.
According to the United Nations (UN), Vietnam is one of the most successful countries in terms of economic development and is one of the very few nations to have fulfilled the Millennium Development Goals (MDGs) set by the UN ahead of schedule.
The country aims to raise its per capita income to US$3,200-3,500 during 2016-2020.
Vietnam’s economic development model focuses on export and investment, mainly the export of raw materials and the development of labour-intensive industries. Meanwhile, the country targets high value-added sectors such as software.
The article stated that Vietnam’s export revenue tripled during 1995-2017 and the country is now the world’s 47th largest exporter, with an annual growth rate at 16%.
The Vietnamese Government is making every effort to push the reform of laws relating to tax, customs and investment, aiming to encourage private investment, it noted.
Julio Sevares also commented on the trade ties between Vietnam and Argentina, which have developed rapidly over recent years.
Vietnam is the fourth largest export market of Argentina, following Brazil, China and the US, he said, citing a report released by Argentina’s National Institute of Statistics and Censuses showing that Argentina’s export to Vietnam in 2016 hit US$2.54 billion, making up 4% of the South American country’s total export value.
Corn and soybean account for 70% of the Argentinean shipments to Vietnam.
Export values of Argentina’s non-traditional items to Vietnam, such as biological and pharmaceutical products and optimal devices, has increased sharply in recent years.
Meanwhile, Argentina’s imports from Vietnam stood at US$350, mainly in electronic products, footwear and clothing.
Argentinean experts said that with a population of more than 90 million, Vietnam remains a promising market for Argentina’s beef, poultry meat, wine, milk and fruit.
Argentina can cooperate with Vietnam in aquaculture in which the Southeast Asian nation has experience, the article said.
