HANOI (Xinhua): Vietnam has distinguished itself as one of the fastest-growing economies in the East Asia-Pacific region in 2024, Vietnam News Agency cited Andrea Coppola, the World Bank's lead country economist and program leader for equitable growth, finance, and institutions in Vietnam.
Like many other countries in the world, Vietnam had to face the challenges associated with international geopolitical tensions and the vulnerability to climate change and natural disasters, he said.
He said despite these adversities, Vietnam's economy demonstrated resilience, continuing its long-term trend of growth and development, and was able to achieve the fastest growth rates among all economies in East Asia, thanks to a rebound in exports and a gradual recovery of domestic demand.
He said it was important for Vietnamese authorities to focus the reform agenda on people, infrastructure and institutions.
"Accelerating investment in human capital by upskilling the Vietnamese labor force and in transport and power infrastructure is critical to further improve the productivity and competitiveness of the Vietnamese private sector," he said.
Earlier the World Bank projected that Vietnam's gross domestic product growth would reach 6.5 per cent in 2025. - Xinhua
