Ha Noi (VNA) - With the title "RP [The Republic of the Philippines] can learn from Viet Nam", the Philippine daily Inquirer praised Viet Nam 's economic development.
"Our country can learn a great deal from Viet Nam, particularly in how the neighbouring ASEAN state successfully revitalized its moribund economy starting in 1986," said the paper issued on August 19.
It highlighted Viet Nam's achievements in poverty reduction, sustainable economic growth and equitable income distribution.
The paper attributed the surge in foreign investment to the country's political stability, peace and order, an openness to market-oriented reforms, generous fiscal incentives, low corporate tax rates, a competitive cost structure, and a young, well-educated, productive, and highly skilled workforce.
"The Philippines can take advantage of Viet Nam's growth," the daily emphasized.
According to the daily, a Philippine-Viet Nam Business Mission will be held in Ho Chi Minh City from August 29 to September 1.
Gigi Zulueta, managing director of ZMG Signium Ward Howell Inc., explained that the objectives of the mission are primarily to explore opportunities for Philippine companies to set up trade relationships directly with Vietnamese partners in import/export as well as direct and financial investments between the two ASEAN states; obtain a better understanding of the success of Viet Nam's "Doi Moi" that was started in 1986 for possible adaptation in the Philippines; and enhance bilateral relations between the two countries.
"Clearly, indicators leave no doubt that Viet Nam is well-positioned to become Asia's next tiger economy, and it is thus imperative for the Philippines to learn from and participate in Viet Nam's success story," the paper concluded.--Enditem | |
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