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German journal highlights Vietnam’s economic achievements

No other country of the same size in the world has achieved such great achievements on the Index of Economic Freedom as Vietnam since 1995, highlighted German economic and financial news website wallstreet-online.de in a recent article.
German journal highlights Vietnam’s economic achievements ảnh 1A view of Ho Chi Minh City (Photo: baodautu,vn)
Berlin (VNA)– No other country of the same size in the world has achieved such greatachievements on the Index of Economic Freedom as Vietnam since 1995,highlighted German economic and financial news website wallstreet-online.de ina recent article.

The Index of EconomicFreedom is an annual index and ranking created in 1995 by the US-based TheHeritage Foundation and The Wall Street Journal to measure the degree ofeconomic freedom in the world's nations.

According to thearticle, in the Index of Economic Freedom rankings for 2023, Vietnam is in the72nd position among the 176 countries and territories with 61.8 points,1.2 points higher than that recorded last year.

Vietnam ranks 14th outof the 39 the Asia-Pacific region countries and territories. Especially Vietnam'stotal results are above the world and regional average, it said.

German journal highlights Vietnam’s economic achievements ảnh 2Assemble electrical wiring systems for automobiles for export to the US market.(Photo: VNA)
However, the articleunderlined that Vietnam’s ranking is not as important as the change of thecountry's economy. Compared to other countries with similar size, none in theworld has enjoyed a good degree of economic freedom like Vietnam since1995, it said. The country’s economic freedom record rose 20 points from 41.7points in 1995, it noted.

The Heritage Foundationcommented that Vietnam's economy is becoming more and more market-oriented asit is gradually integrating into the global trade and investment system. Vietnamranks high in "Fiscal Health" and "Government Spending", while posting average results in the field of "Business Freedom andMonetary Freedom", the article said.

According to the article, if Vietnam continues the "Doi Moi"(Renewal) initiated in 1986, the country will have a good chance tobecome one of the strong economies in the world.

Vietnam is currentlyone of the most dynamic countries in the world, with a vibrant economy offeringgreat opportunities for hard workers and entrepreneurs. From a country thatcould not produce enough rice to supply its people before market reforms began,Vietnam has now become one of the world's largest rice exporters, as well as anexporter of important electronic products, the article underlined./.
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#"Doi Moi" (Renewal) #The Heritage Foundation #The Wall Street Journal #Index of Economic Freedom #wallstreet-online.de #Vietnam #Vietnam news #Vietnam News Agency
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