ASEAN KEY DESTINATIONS
Increasing Vietnamese competitiveness
The report provided comprehensive statistics and assessments of Viet Nam's competitiveness, said the prime minister.
Detailed recommendations for the national 2010-20 Socio-economic Development Strategy which was for average yearly economic growth of 7-7.5 a year were also provided.
So too were targets for social equality, social welfare and environment protection. The report, published when Vietnam was assessing its development and devising plans for fast, sustainable growth for the next 10 years was much appreciated, said the prime minister.
Viet Nam's competitiveness has been the subject of several studies including the World Economic Forum's yearly Global Competitiveness Report; reports dealing with the competitiveness of ASEAN member countries and the Viet Nam Chamber of Commerce and Industry's provincial competitiveness index.
But none had provided a deep and comprehensive national assessment of competitiveness, said Government Office chairman Nguyen Xuan Phuc.
GDP per capita had grown at a yearly rate of almost 6 percent and millions of Vietnamese had been lifted out of poverty. The average income increased to US$1,160 this year from $100 in 1990, putting Viet Nam on the verge of becoming a middle-income country, he said. The poverty rate had been reduced to 10 per cent this year, from 70 per cent in 1980.
International donors viewed Vietnam as a success; a place where foreign aid was generally well utilised and had a visible impact, while the private sector saw Viet Nam as an increasingly attractive destination.
Members of the Singapore-based Asia Competitiveness Institute and Viet Nam's Central Institute for Economic Management wrote the report.
Professor Porter, who guided their research, said: "Viet Nam is now ready for the next chapter in its economic development and the Viet Nam Competitiveness Report (VRC) provides comparative data, analysis and concrete proposals to help decision makers as they chart their country's future path."
Improving national competitiveness is a key objective of the Viet Nam Government and business community in their socio-economic development goals for the next decade.
Professor Porter said he was impressed by the high growth and the significant reduction in poverty over the last two decades.
But Viet Nam's stagnant position in many international rankings of competitiveness was a worry. Vietnam is still behind more than 100 other countries and the prosperity divide within the country's regions are growing, although it is almost middle-income country, says the report.
Vietnam's social infrastructure and political institutions are generally solid with basic education and health care providing an important basic prerequisite for economic growth.
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