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.