APEC 2017: Singapore press hails Vietnam’s economic reform hinh anh 1A corner of Ho Chi Minh City, which is striving to turn itself into a smart city (Photo: VNA)

Singapore (VNA) –
The urbanisation rate in Vietnam grew rapidly in the past decade from 30 percent in 2007 to 40 percent in 2017, according to Singapore-based United Morning Post.

In an article about Vietnam’s economic reform and hosting of APEC Year 2017, the newspaper cited data demonstrating the country’s progress since the beginning of reforms in 1986. Vietnam’s growth rate was 2.79 percent in 1986, soared to 7.36 percent three years later and now consistently hovers around 7 percent.  

The paper said by hosting the APEC 2017 Economic Leaders’ Week in Da Nang, Vietnam introduced to international friends a dynamic and vibrant city. Da Nang is a small image of Vietnam, reflecting the achievements the country has obtained from reforms and economic integration in the past ten years, it noted.

The article also pointed to a number of challenges facing Vietnam, such as uneven socio-economic development, outdated infrastructure, corruption, and inflation.

In conclusion, it attributed the country’s robust growth to its progress in regional and global integration. Since 1990, Vietnam has become members of the Association of Southeast Asian Nations, the Asia-Pacific Economic Cooperation (APEC) and the World Trade Organisation (WTO).-VNA