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POLITICS




VIETNAM OBTAINS IMPRESSIVE ACHIEVEMENTS IN SOCIO-ECONOMIC DEVELOPMENT, FOREIGN
AFFAIRS IN 2024: UN OFFICIAL

Vietnam has achieved positive results in socio-economic development and foreign
affairs in 2024 despite global uncertainties, said Deputy Resident
Representative of the United Nations Development Programme (UNDP) in Laos Dao
Xuan Lai.


December 12, 2024 at 11:20:15
Deputy Resident Representative of the United Nations Development Programme
(UNDP) in Laos Dao Xuan Lai (Photo: VNA)

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Vientiane (VNA) – Vietnam has achieved positive results in socio-economic
development and foreign affairs in 2024 despite global uncertainties, said
Deputy Resident Representative of the United Nations Development Programme
(UNDP) in Laos Dao Xuan Lai.

Speaking to the Vietnam News Agency (VNA)'s resident reporters in Laos, Lai said
that Vietnam has made significant breakthroughs, transforming its economic
thinking from a planned economy to a socialist-oriented market economy. This
shift is a key factor for the success of Vietnam's economy.

After nearly 40 years of renewal, Vietnam's economy reached 430 billion USD in
2023, placing it among the 40 largest economies in the world and specifically
within the top five economies in the Association of Southeast Asian Nations
(ASEAN). The per capita GDP has approached 4,300 USD, and the multidimensional
poverty rate has dropped to 2.9%. These are encouraging results, especially as
Vietnam started as an underdeveloped agricultural economy with GDP of 26.3
billion USD in the 1980s.

Vietnam has integrated extensively on the international market, transforming
itself into one of the most open economies in the world. The country has
established economic and trade relations with 230 countries and territories. It
has participated in over 500 bilateral and multilateral agreements, including 17
free trade agreements.



This is a very positive signal, Lai said, noting that Vietnam's total
import-export turnover is projected to reach 800 billion USD this year, double
its GDP, with focus on attracting foreign investment. Vietnam has attracted
approximately 31.4 billion USD in foreign direct investment (FDI) in the first
11 months of 2024, especially in the processing and manufacturing sectors.

Regarding the economic growth model, Vietnam has shifted its focus from the
agricultural sector to services and industrial production. The shift will help
increase the value added to the economy and its economic sectors. Importantly,
Vietnam’s economy ensures inclusive development enabling people and businesses,
especially small- and medium-sized enterprises to benefit from economic
activities.

Regarding international integration and diplomacy, Lai affirmed that Vietnam has
made advancements. The Party, National Assembly (NA), Government, and people of
Vietnam are implementing an independent and comprehensive foreign policy imbued
with characteristics of the “bamboo diplomacy”.

Vietnam has established increasingly deeper relations with all 193 countries
that are members of the United Nations (UN), including special ties with three
countries, comprehensive strategic partnerships with five countries, and
strategic partnerships with 13 countries, Lai noted.



Meanwhile, the Vietnamese NA is also a member of parliamentary unions in Asia
and the world. The Vietnam Fatherland Front and various Vietnamese organisations
are actively involved in practical foreign cooperation mechanisms with 1,200
people's organisations and foreign partners worldwide.

Lai praised Vietnam's positive and responsible role as an UN member state,
particularly through its involvement in UN peacekeeping operations.

He emphasised that in the coming time, Vietnam should continue to maintain
political stability, macroeconomic stability, and social order to build trust
with other countries, as well as with international investors.



Lai also suggested that Vietnam should focus on enhancing labour productivity
and establish mechanisms and policies to promote innovation, technological
research and development. Vietnam needs to pay attention to promoting green
economy and renewables./.

VNA

#socio-economic development #Foreign Affairs #UN official #impressive
achievements

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