In the nearly 35 years of renewal, Vietnam’s economy has gained a considerably higher growth rate compared to that before the launch. Photo: The Ca Mau Gas – Power – Fertiliser Industrial Complex makes up over 40 percent of the provincial budget revenue and more than 30 percent of the local labour force of Ca Mau. (Photo: VNA).
Hanoi (VNA) - Thirty-five years after the launch of the renewal, Vietnam has, under the leadership of the Party, reaped comprehensive, great and important achievements.
Reality has shown that without the Communist Party of Vietnam, the renewal would have not come into existence, and without the clear-sighted leadership of the Party, there would not have been the righteously-oriented renewal.
The renewal is a scientific and revolutionary choice aimed at developing the country, first of all the economy, and marks an important turning point in the development of the Vietnamese revolution starting from the sixth party Congress in December 1986.
With the motto of looking straight to the truth, correctly evaluating the truth and speaking out the truth, the Congress worked out the policy of comprehensively renovating the country, with a special emphasis on the renewal of the way of thinking, first of all that on the economy.
This marks an important breakthrough in the party ideology and theory, creating a theoretical premise for the concerted and consistent implementation of renewal measures in every field of the social life, especially those on the renewal of the economy to liberalise the production forces and shift from the centrally planned economy to a socialist-oriented market one.
Vietnam’s economy was facing a requirement for a comprehensive renewal, from the structure to mechanism in the direction of building a socialist-oriented market economy. Along with the economy, the leadership, management and operation also needed renewal.
As such, renewal was a certainty for both grasping the chances and weathering the challenges.
Thirty-five years after the launch of the renewal, Vietnam has, under the leadership of the Party, reaped comprehensive, great and important achievements. The country has got out of the socio-economic crisis and the poor development and become a middle-income developing one. It is accelerating its industrialisation, modernisation and international integration. Vietnam has got a facelift, the people’s life been improved, democracy promoted and expanded, and national solidarity cemented and strengthened.
After the nearly 35 years of renewal, Vietnam has reaped important achievements with material-technical premises and socio-economic infrastructure gradually meeting the requirement of industrialisation and modernisation, creating an environment that can attract social resources for development. Photo: The 24.6km Ha Long – Hai Phong Highway helps shorten the Ha Long – Hanoi distance to 130km from 180km, and the Ha Long – Hai Phong one to 25km from 75km (Photo: VNA)
The building of the Party, the law-governed State and the political system has been accelerated; the country’s comprehensive strength improved; national independence, sovereignty, unity, territorial integrity and the socialist regime maintained; foreign relations further broadened and deepened; and Vietnam’s position and prestige on international arena raised.
In the first stage of the renewal (1986-1990), the average annual GDP growth was only 4.4 percent, but the figure rose to 7 percent in the 1996-2000.
The October 2020 draft political report to be presented at the 13th party Congress showed that in the 2011-2020 period, the annual GDP growth was projected at 5.9 percent, and Vietnam belonged to the group of high-growth countries in the region and the world.
The GDP scale increased by 2.4 folds to 268.4 billion USD in 2020 from 116 billion USD in 2010, and the per capita GDP to about 2,750 USD in 2020 from 1,331 USD in 2010.
Over the past 10 years, Vietnam’s export markets have been broadened in the direction of diversification and multilateralisation. Vietnam’s exports have reached over 200 countries and territories.
Currently, Vietnam is one of the 10 economies most opened in the world with an import-export/GDP ratio constantly rising over the years (to about 200 percent in 2019 from 136 percent in 2010).
In the context of the complex development of the COVID-19 pandemic that is adversely impacting the world economy, Vietnam’s import-export in the 11 months of 2020 still reached a record surplus of 20.1 billion USD.
Vietnam has every ground to affirm that national renewal is a right choice that has placed the country into a new orbit of qualitative development suitable to the trend of the era and the people’s desire. The renewal initiated and led by the Party since its sixth Congress is a great creation.
In the time to come, with a righteous orientation that is suitable to the rule and a strong political will, Vietnam is sure to make new development miracle and enter a new development period./.