The Russian “People’s News” newspaper on January 20 carried a story titled “Vietnam confirms renewal policy”.
The article stated that Vietnam’s 12th National Party Congress, starting from January 20, will continue to affirm the country’s integration into the global economy, and its pursuit of a socialist-oriented market economy.
It also highlighted the adoption of the “Doi Moi” (reform) policy at the 6th National Party Congress of the CPV in December 1986, which marked the start of Vietnam’s integration into the global economy.
The renovation has brought remarkable growth for the Southeast Asian country, the article said, adding that Vietnam has evolved into a middle-income country from one of the poorest nations in the world.
The article cited statistics from the World Bank, revealing that the per capita income of Vietnam increased to 2,052 USD in 2014, from only 220 USD in 1990.
Despite macro-economic difficulties, the country has gained significant attainments with a gross domestic product (GDP) growth of 6.68 percent in 2015. Vietnam is setting a strong target for annual economic growth of 6.5-7 percent between 2016 and 2020.
The article said that Vietnam signed a free trade agreement (FTA) with the Eurasian Economic Union in 2015, and at the same time became engaged in other economic mechanisms, including the Trans-Pacific Partnership (TPP) Agreement.
China’s Xinhua News Agency on January 20 also carried a story praising Vietnam for it’s remarkable achievements during the renewal process.
The article said that the 12th National Party Congress of the CPV will create a strong momentum for the country to further develop.
It noted that during 30-years of renovation, the CPV has gradually reinforced the socialist-oriented market economy, which had created a premise for the current immense changes.
Vietnam recorded an annual average GDP growth of 7.3 percent between 1990 and 2010, the article cited, saying that despite numerous difficulties, the country still reached a GDP growth of 6.68 percent in 2015, while the inflation rate was curbed to below 5 percent.
A number of important contents of the political report submitted to the 12th National Party Congress highlight the importance of building a strong and transparent Party, in addition to intensifying corruption prevention, the article said.
The article underlined “international integration” as one of the focal points in the external affairs policy of Vietnam in recent years.
It said Vietnam and China are neighbouring countries that share a comprehensive strategic co-operative partnership.
The two countries have witnessed significant progress in their relations, with two-way trade topping 95.82 billion USD in 2015. China has become the biggest trade partner of Vietnam over the past 12 years, while Vietnam was the second largest trade partner of China in ASEAN in 2014.
The same day, Japan’s Kyodo News Agency ran an article informing readers that Vietnam had convened the 12th National Party Congress on January 20, with a preparatory meeting.
It said the Congress, which is held once every five years, is expected to promote the country’s renewal process and reaffirm the target of transforming Vietnam into a modern industrialised society.
During the Congress, delegates will adopt the political report – which guidelines Vietnam’s politics, economics, and diplomacy over the next five years, as well as elect new leaders.
Vietnam’s economic growth has been quite stable in recent years thanks to strong exports. This is expected to increase further in the coming years due to the Trans-Pacific Partnership (TPP) Agreement.
However, Vietnam might face a number of challenges, including territorial disputes with China on the East Sea, as well as development gaps with Singapore and Thailand, according to the Japanese news agency.
