kude.punny

Indonesia’s Tempo likes the pace of Vietnamese economy

Jakarta (VNA) - Indonesia's most popular news weekly, “Tempo” magazine, recently published an article entitled “Vietnam Revitalized”, that put the spotlight on Viet Nam's markedly increased economic fortunes.

Unlike other Asian nations that are rapidly aging, Viet Nam is home to the world's “youngest” population, with 60 percent of the country under 35 years of age. A young workforce and the process of “doi moi” (renovation) that began in 1986 are considered the chief catalysts behind the seismic shift from a socialist economy to a free market economy, the weekly reported.

The Vietnamese government put in place an “open-door” policy, the article said, citing that from 1988-1997, Viet Nam’s economy grew by over 8 percent a year. In 2006, the country registered a record 10.2 billion USD in foreign investments and is on course to easily break that record again this year.

The establishment of over 135 industrial zones dotted throughout the country that offer heavy incentives, tax exemptions, simplified administrative procedures, government’s efforts in boosting the development of the stock exchange and removing language barriers were all also sited by "Tempo" as being contributing factors for Viet Nam's continued success.-Enditem

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