APEC 2017: Vietnam has successful economic development model
Vietnam has been appraised for its successful development model thanks to impressive economic growth and radical reform to attract investment, particularly after the country joined APEC forum in 1998, said PhD Arisman, director of the Centre for Southeast Asian Studies (CSEAS).
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He said that this is an opportunity for Vietnam to popularise national images as well as promote socio-economic development.
Meanwhile, Kim Sang Yeol, Vietnamese honourable Consul General in Gwangju-Chonnam region, the Republic of Korea, made positive comments on Vietnam’s socio-economic development after more than 30 years of Doi Moi (reform) as well as expressed his belief in the Southeast Asian country’s economic potentials.
Kim, who is also General Director of Hoban Construction Co., Ltd and President of the Korean Broadcasting System (KBS), highlighted that Vietnam is a promising market which offers favourable conditions for foreign investors including those from the RoK to enlarge their business.
Shang Feng, a lecturer from China’s University of International Business and Economics, noted opportunities of Vietnam, the host of the APEC 2017 events, include rapid economic development, abundance of workforce, competitive labour costs and sound business climate.
However, its formidable challenges are poor infrastructure system, shortage of skillful workers and incomplete economic institution reforms, he said.
