New Straits Times Calls Viet Nam a Rising Star Globally

1:30:55 PM | 9/24/2023

New Straits Times, Malaysia-based leading English language newspaper, named Viet Nam a rising star in the world, with consistent gross GDP growth of about 6 percent for many years.

In an article about Viet Nam’s thriving growth during its national construction and development after wartime, the newspaper outlines that the Doi Moi (Renewal) policy helped to inject a fresh sense of dynamism into the Vietnamese economy in the late 1980s. The momentum for a market-driven economy accelerated further, with greater liberalization and privatization being implemented in the 1990s.

Following these market reforms, foreign investors began pouring billions of dollars into the country. Among them are those by Gamuda Land, Petronas and Sunway group from Malaysia, and the Viet Nam-Singapore Industrial Parks (VSIP).

It has helped to attract significant investments from the likes of Samsung, Nike, Adidas, and plenty more. Unlike other countries, the nation is blessed with a relatively young population, with this demographic dividend helping to power its labor-intensive manufacturing sector.

There is a vibrant community of Malaysians and Singaporeans who both live and work in Viet Nam.

Recently, there was a double celebration of Merdeka and Viet Nam's National Day for executives at the Royale Bar in Ho Chi Minh City.

The Vietnamese economy over the past decade has created more and better jobs. It has also improved the aspirations and living standards of local people, with famous Western brands such as Louis Vuitton, Gucci, and Chanel now having a presence in all major cities.

Source: VGP