Report lays out aspirations

08:56 | 22/03/2016 Cooperation

(VEN) - The recently announced Vietnam 2035 Report: Towards Prosperity, Creativity, Equality and Democracy indicates that the Vietnamese government is pursuing the goal of increasing per-capita income to more than US$7,000 by 2035, a more than 300 percent increase compared with 2014.

Report lays out aspirations

The Vietnam 2035 Report is a joint publication initiated by Prime Minister Nguyen Tan Dung and World Bank President Jim Yong Kim

At the report launching ceremony held on February 23, representatives of many international organizations shared their views that Vietnam’s goal for the next 20 years was ambitious. However, as a result of renovation efforts over the last three decades, from a country that suffered the heavy consequences of the war with nearly 60 percent of its population living in extreme poverty in the 1990s, Vietnam has reduced its poverty rate to below three percent.

World Bank President Jim Yong Kim said that Vietnam had become a successful example of socioeconomic development thanks to its great efforts over the last three decades. Notably, Vietnam has maintained an economic growth rate of over seven percent for years and Vietnam is capable of becoming an upper-middle-income country after two decades.

The report recommends six key transformations that will help Vietnam achieve this goal: firstly, to enable economic modernization with a dynamic private sector; secondly, to improve the country’s technological capacity; to reshape urban policies and investment to stimulate more dynamic cities and urban centers; to chart an environmentally-sustainable development path with increasing adaptation and resilience to climate change; to promote equality and inclusion among marginalized groups for the development of a harmonious society; and to establish a modern state and a democratic society under the rule of law.

“Effective implementation of these recommendations will help Vietnam achieve high, inclusive and more comprehensive growth,” Jim Yong Kim emphasized.

Minister of Planning and Investment Bui Quang Vinh said that to achieve its per capita income goal for 2035, Vietnam needed to pay special attention to increasing labor productivity, because this factor played an important role to the socioeconomic development of each country. Minister Vinh also emphasized that the recommendations given in the report are for the long term, requiring the government to put in place suitable mechanisms to oversee the implementation process so that it could make necessary adjustments.

Korea International Cooperation Agency President Kim Young Mok said the Vietnam 2035 Report reflected the Vietnamese government’s strong will to boost socioeconomic development. However, major challenges ahead require the country to develop plans on turning this into a reality now. He said the Korean government would be willing to support and accompany Vietnam on its path to becoming a developed country.

Australian Ambassador to Vietnam Hugh Borrowman believed the report would pave the way for Vietnam to strongly develop in the future. The Australian government pledged to support Vietnam’s efforts to become a modern country by 2035.

Deputy Prime Minister Vu Duc Dam:

The Vietnam 2035 Report is full of practical recommendations and is an important policy-making document for the country’s socioeconomic development process.


Nguyen Hoa