Lao media hails Vietnam’s experience in economic development

1/10/2023 - 10:54:37 AM

The Lao Journalists Association’s website laophattananews.com has recently published an article praising Vietnam’s experiences for good economic growth in the context of global downturn.

Illustrative photo (Source: VNA)

The article emphasised that Vietnam recorded good economic growth in the context of the world facing economic recession, inflation, and unemployment in the past three years.

It cited the World Bank’s study as saying one of the important factors for the nation’s economic development is the fact that investors in the manufacturing sector, especially factories producing electronic devices from the US, Europe and Asia, have been expanding their operations in Vietnam.

In addition, its education reform has contributed to improving the quality of human resources. The Vietnamese Government's focus on investing in developing infrastructure is expected to boost growth in years to come.

According to the article, experts believe that in 2023, the world economy will continue to decline and face many difficulties. Large countries such as the US, China, and those in the EU are forecast to grow slowly. However, Vietnam is likely to sustain stable growth because it has attracted investors and issued suitable policies for local currency management.

Source: VNA

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