Laos, Vietnam hold economic workshop
(VOV) - Nearly 200 Vietnamese and Lao delegates attended an economic workshop in Vientiane on September 24, discussing the changing economic landscape in the region and world with a vision to 2030.
The workshops were co-chaired by Vuong Dinh Hue, Chairman of the Communist Party of Vietnam Central Committee’s Economic Commission (CCEC) and Bousone Boupphavanh, Director of the Lao Institute for Economic Development Strategy Research (EDSR).
Hue presented an overview of the world situation and Vietnamese economy in recent times. He said in the first half of 2014, the world economy began to rebound from the recent global economic crisis but grew at a much slower pace than leading economists had originally forecast.
The economic situation in ASEAN seems brighter than in the rest of the world, with ASEAN economies forecast to expand at a relatively faster pace. ASEAN countries such as Indonesia, Singapore and Malaysia have the most favourable economic prospects.
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Vietnam’s economy maintained an average growth rate of 5.64% from 2011-2013, per capita income of US$1,908 and inflation rate of 6.04% in 2013.
These positive achievements are attributable to the Government’s macro-economic management, helping Vietnam progress from a recipient of official development assistance over 20 years to a fully-fledged strategic development partner today.
Hue made an in-depth analysis of Vietnam’s success, noting perceptions on the renewal of the growth model, economic restructuring, and rapid and sustainable development under the socialist guidelines.
He highlighted the role the CCEC plays in making recommendations on key socio-economic tasks to the Party leadership.
Bousone Boupphavanh expressed his appreciation to Hue for his presentation on issues of Laos concern, saying Vietnam’s experience in economic development is very useful and beneficial for Laos.