Economic development
Starting from the 6th Congress of the Communist Party of Vietnam in 1986, our Party made the decision to carry out comprehensive renovation to bring the country out of economic and social crisis. By the 9th Congress in 2001, the socialist-oriented market economy model was identified by the Communist Party of Vietnam as the development model for the transition period to socialism in Vietnam. This is a modern, internationally integrated market economy , managed by a socialist rule-of-law state with the goal of "rich people, strong country, democracy, fairness, civilization".
After nearly 40 years of persistently following the renovation policy, Vietnam has achieved many important achievements in the economic field with remarkable progress. From a backward agricultural country with a small economic scale, GDP reaching only 26.3 billion USD, Vietnam has transformed itself into one of the fastest growing economies in Southeast Asia. By 2023, the size of the economy had increased 58 times compared to the early years of renovation with GDP reaching 430 billion USD and average income per capita reaching nearly 4,300 USD, while the poverty rate according to the new standard decreased to only 2.9%.
Since 2008, Vietnam has emerged from the group of low-income countries and strives to become an upper-middle-income country by 2030. GDP growth has always been high, along with a significant increase in exports and foreign investment attraction. The Vietnamese government has implemented many important economic reforms, creating favorable conditions for businesses and improving the investment environment. With a total import-export turnover of nearly 700 billion USD and attracting foreign investment of up to 23 billion USD by 2023, Vietnam has truly become a globally integrated economy, becoming the 22nd largest trading partner in the world.
Economic development has led to social progress, from improving the quality of education and health care to sustainable poverty reduction. These achievements have not only improved people's lives but also created a solid foundation for Vietnam to assert its position in the international arena.
Actively participate in international organizations and activities
Vietnam has been playing an active role in international diplomacy. As a member of the United Nations since 1977, Vietnam has actively participated in many activities of this organization and plays an important role in international forums such as ASEAN, APEC and WTO.
In 2020, Vietnam assumed the role of ASEAN Chair and non-permanent member of the United Nations Security Council, demonstrating the international community's trust in Vietnam. In this role, Vietnam has promoted many important initiatives, contributing to maintaining peace and stability in the region and the world.
Vietnam has demonstrated a strong commitment to addressing global issues such as climate change and world peace. As one of the countries heavily affected by climate change, Vietnam has proactively participated in international efforts to mitigate the impacts of climate change. The government has introduced many policies and action programs to protect the environment, develop renewable energy, and raise public awareness of climate change. 2023 marks an important milestone in Vietnam's forestry sector: For the first time, Vietnam successfully sold 10.3 million forest carbon credits (equivalent to 10.3 million tons of CO2) through the World Bank (WB). This transaction, with a unit price of 5 USD/ton, brought in 51.5 million USD (about 1,200 billion VND).
In addition, Vietnam has also actively participated in UN peacekeeping operations. In 2014, an important milestone was marked when two officers of the Vietnam People's Army were deployed to South Sudan for the first time. This was the first but meaningful step, demonstrating Vietnam's commitment to international peace and security. Since then, this number has increased significantly. To date, more than 800 Vietnamese officers and professional soldiers have participated in peacekeeping missions not only in South Sudan but also in the Central African Republic, the Abyei region and even at the United Nations headquarters.
Despite its remarkable achievements, Vietnam still faces many challenges in its development process. The volatile world economic situation, increasingly fierce international economic competition, along with internal problems such as environmental pollution and the gap between rich and poor require Vietnam to have more sustainable and comprehensive development strategies.
However, these challenges also open up many opportunities for Vietnam. With a strategic geographical location, abundant human resources and an open-door policy, our country has great potential to continue to develop and affirm its position in the international arena. 79 years after the National Day, Vietnam has been rising strongly, building a new foundation, new potential, affirming its international position and prestige. The achievements are not only the result of the tireless efforts of the entire nation but also a testament to the correctness of the development path set forth by the Party and the State. In the future, with the spirit of solidarity and determination to rise, Vietnam will certainly continue to make a strong mark on the world map.
