UN warns Vietnam over economic reforms
UN warns Vietnam over economic reforms
HANOI (DPA): The United Nations warned Vietnam yesterday that unless it intensified its on-going reform process economic growth will slow down, unraveling the government's goal of catching up with other countries in the economically robust region.
The economic reform process launched in 1986 known as "doi moi" has resulted in "major improvements in the lives of the Vietnamese people," said Roy Morey, the United Nation's senior resident representative.
"But if economic growth is to continue to translate into improved quality of life for all people, the government will need to widen and deepen its reform process."
He made the remarks during a news conference unveiling a new study that makes a number of key recommendations for sustaining growth. "(The) report reveals that without continuing progress, the impressive growth and poverty reduction realized since the launching of doi moi in 1986 could slow down," Morey said.
"It is my sincere hope that this UN report encourages Vietnam's policy makers to take a closer look at what is needed to further reduce poverty."
The report was released ahead of next's week meeting in the Vietnamese capital of the donor nations and international finance institutes, including the World Bank.
Vietnam's leaders have agreed to structure economic growth so as to maximize poverty alleviation among its 75 million citizens, but roughly half of the population still lives under an internationally recognized poverty level of US$100 per annum.
That figure has come down from 70 percent when the reform process started. More than 50 percent of all Vietnamese children are still malnourished and 20 percent are severely stunted, according to the UN
Vietnam has managed 9-10 percent growth in the last few years at he same time as taming inflation to single digits but the UN report echoes other recent warnings that Vietnam must move faster towards its stated goal of a market-oriented economy if it wants to become competitive on a global basis.