Economic growth australia

Impressive development achievements Starting the innovation process with the determination to integrate internationally 35 years ago, Vietnam was still a country with backward and closed production. It had consistently implemented reforms, transforming from a centrally planned, subsidized economy to a multi-sectoral commodity economy, which operates under the market mechanism and the State's management and towards socialism. From 1986 to 2000, on average, the gross domestic product (GDP) grew by 6.51 percent annually. The agriculture, forestry, and fishery sector edged up 3.72 percent; the industry and construction sector rose 9.06 percent; the service sector climbed 6.66 percent. The economic structure had gradually shifted towards promoting industrialization and modernization. The agricultural sector had absolutely solved the food problem, ensuring national food security, changing Vietnam from a country with a lack of food to become the second-largest rice exporter in the world. … [Read more...] about Bright economic appearance after 35 years of innovation

Vientiane (VNA) – The completion and early signing of the Regional Comprehensive Economic Partnership (RCEP) is very important to the process of economic recovery in the region, said a member of the Lao negotiation team to the RCEP talks. RCEP is a free trade agreement in the Indo-Pacific region between the 10 member states of the ASEAN and its five FTA partners (Australia, China, Japan, New Zealand, and the Republic of Korea). India initially participated in the talks, but it withdrew in November 2019. The 15 negotiating parties account for 30 percent of the world's population and just under 30 percent of the world's GDP. … [Read more...] about Signing of RCEP to help post-pandemic regional economic recovery: Lao official

Action plan to bolster CLMV economic growth approved Cooperation in trade and investment, human resources, and post-pandemic economic recovery will be the focus of a 2021-2022 joint plan of action freshly adopted by Cambodia, Laos, Myanmar and Vietnam (CLMV) at the 12th CLMV Economic Ministers Meeting. … [Read more...] about Vietnam makes proposal on building 2021-2022 CLMV Action Plan

Vientiane (VNA) - Sounthone Sayachak, head of the Lao Party Central Committee’s Commission for External Relations has attributed comprehensive achievements and progresses of the country during the national defence and construction process to the leadership role played by the Communist Party of Vietnam (CPV). During a recent interview granted to Laos-based Vietnam News Agency’s correspondents on the occasion of the CPV’s 13th National Congress, Sounthone Sayachak spotlighted successes made by the Vietnamese Party, State and People in recent times, especially in maintaining political stability and economic growth, responding to the COVID-19 pandemic and overcoming consequences of natural disasters. Vietnam has also recorded outstanding achievements in Party building, making the CPV stronger and stronger, consolidating public trust in the Party and the Government, she noted. Sounthone also pointed out Vietnam’s successes in ensuring security and defence, … [Read more...] about Lao party official spotlights CPV’s leadership role in Vietnam’s success

She said it is an undeniable success that Vietnam could gather a large-scale Congress with over 1,500 delegates taking part amid complicated developments of the pandemic worldwide at present. Diplomats and representatives from international organisations in Vietnam will be honoured to witness this important political event and are satisfied about living in one of the most successful countries in the fight against COVID-19. … [Read more...] about VIETNAM NEWS JANUARY 25