Reasons why Vietnam was chosen to host WEF ASEAN 2018
Mr. Justin Wood, Director of Asia-Pacific region of the World Economic Forum said: "Vietnam is a dynamic, vibrant economy with a growth rate of more than 7%/year and a young population."
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| Mr. Justin Wood, Asia-Pacific Regional Director of the World Economic Forum, said that Vietnam's policies have many interesting characteristics. |
In addition, Mr. Justin Wood said, Vietnam has been developing many strong economic plans, including a competitive manufacturing and export sector, a vibrant consumer market and attractive opportunities for investment in infrastructure and agriculture. All of these factors have made Vietnam receive strong attention from global business leaders.
“From a policy perspective, Vietnam has many interesting characteristics that suggest the government will have much to contribute to important policy discussions,” Mr. Justin added.
The World Economic Forum Organizing Committee also recognized that Vietnam has strong commitments to understanding the significance of the Fourth Industrial Revolution for a middle-income country, but with development and industrialization roadmaps.
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| Vietnam's economic picture in 2018 has many bright colors. |
Vietnam is a strong supporter of ASEAN, promoting regional economic integration and building regional responses to tough challenges. At the same time, Vietnam is part of the Mekong region of ASEAN and is contributing to the new vision of an integrated Mekong.
Finally, Vietnam is an important partner of the World Economic Forum with many interesting projects and initiatives being and will be implemented here.
Impressive numbers
According to the World Bank report, Vietnam's GDP growth reached 7% in the first half of 2018 and is expected to increase by 6.8% in 2018. Vietnam is one of the fastest growing economies in the world and this rate is surpassing China, which is expected to grow at 6.5% in 2018.
According to the World Economic Forum's Global Competitiveness Report 2017-2018, Vietnam has risen 5 places, ranking 55th.
In the Inclusive Growth Index, Vietnam is part of a group of economies that have done well in making their growth processes more inclusive and sustainable. This group includes the Czech Republic, Iceland, New Zealand, Nicaragua, Rwanda and South Korea.