German newspaper hails Vietnam's effective policies
VOV.VN - Die Welt ("The World"), a German national daily newspaper published an article praising Vietnam's effective policies over the years, which has brought this Southeast Asian country a dynamic and attractive investment environment to foreign investors.
The article asks how to fight poverty effectively? Many people believe in development aid, but that has barely seen fundamental changes in Africa over the past five decades.
This clearly shows that the effect in many countries is the introduction of a market economy and a developed private sector.
According to the article, Vietnam is a typical example of what the adoption of private ownership and reform of the market economy can achieve. In fact, the country has eliminated extreme poverty, it said.
Vietnam is currently one of the most dynamic countries in the world, with many opportunities for businesses and hard workers. The nation’s gross domestic product (GDP) has posted a six-fold increase since the beginning of the reform.
From a country that was previously unable to produce enough rice for its people, Vietnam is today one of the world's largest rice exporters, and one of the most important exporters of electronics.
The 6th National Party Congress in December 1986 adopted the Doi Moi (Renewal) policy which has served as the basis for all positive changes in Vietnam since this time.
Basically, the reforms adopted at the 6th National Party Congress and developed over the following years were the promotion of markets in which the public, cooperative and private sectors co-exist equally.
In 1987, the investment law was passed, giving a clear signal that Vietnam desires to open the door to foreign investors, allowing 100% foreign capital investment and the country and Vietnam also ensures the safety of capital and assets of foreign investors in the country.