Algeria’s international weekly “Young Africa” has hailed Vietnam ’s open-door and economic development policy, urging Algeria to follow in the steps of the southeast Asian country.
The article pointed out similarities in patriotism between Algeria and Vietnam , saying the latter won victories in the two struggles for national liberation and promoted the patriotism in developing its economy.
The country of President Ho Chi Minh has created a “socialist-oriented market economy”, bringing itself an annual average growth rate of 5 percent while it has no special advantage of natural resources and a population of 86 million is possibly a disadvantage, the paper said.
Over 20 years of implementing its open-door policy, the country reduced its poverty rate to 11 percent from 70 percent, according to the paper.
Unlike Algeria , the paper said, Vietnam has pursued an open-door policy. Vietnam joined the Association of Southeast Asian Nations (ASEAN) in 1995 and reached a bilateral trade agreement with the US in 1999. The country became a member of the World Trade Organisation (WTO) in 2007, which drove up its exports and helped it attract 11 billion USD in foreign investment every year, four times higher than Algeria .
Different from Algeria , Vietnam has not limited its activities at footwear production. The country has focused on development of coffee, rubber, electronics and tourism.
Vietnam , led by the Communist Party, maintained private firms even during the regional financial crisis in 1997, and its commitments were applauded by the World Bank and the International Monetary Fund, the paper added.
Titled “why do Hanoi and Kuala Lumpur exceed Algiers ”, the paper also mentioned Malaysia ’s economic development as another example for Algeria./.
The article pointed out similarities in patriotism between Algeria and Vietnam , saying the latter won victories in the two struggles for national liberation and promoted the patriotism in developing its economy.
The country of President Ho Chi Minh has created a “socialist-oriented market economy”, bringing itself an annual average growth rate of 5 percent while it has no special advantage of natural resources and a population of 86 million is possibly a disadvantage, the paper said.
Over 20 years of implementing its open-door policy, the country reduced its poverty rate to 11 percent from 70 percent, according to the paper.
Unlike Algeria , the paper said, Vietnam has pursued an open-door policy. Vietnam joined the Association of Southeast Asian Nations (ASEAN) in 1995 and reached a bilateral trade agreement with the US in 1999. The country became a member of the World Trade Organisation (WTO) in 2007, which drove up its exports and helped it attract 11 billion USD in foreign investment every year, four times higher than Algeria .
Different from Algeria , Vietnam has not limited its activities at footwear production. The country has focused on development of coffee, rubber, electronics and tourism.
Vietnam , led by the Communist Party, maintained private firms even during the regional financial crisis in 1997, and its commitments were applauded by the World Bank and the International Monetary Fund, the paper added.
Titled “why do Hanoi and Kuala Lumpur exceed Algiers ”, the paper also mentioned Malaysia ’s economic development as another example for Algeria./.
