The Germany’s model of social market economy was highlighted at a presentation in Hanoi on April 2 on the occasion of German State Secretary of Labour and Social Affairs Ralf Brauksiepe’s visit to Vietnam.

At the event which was organised by the Vietnam Academy of Social Sciences and the Konrad-Adenauer-Stiftung (Germany), scientists shared their experiences in research and policy consultation in economic management and national development.

Ralf Brauksiepe said Germany has gained many successes thanks to the social market economy it has been pursuing for the past 60 years.

According to the secretary, the model of social market economy is a combination of economic efficiency and social equity. Its target is to maintain the balance among economic factor, freedom and social equity.-VNA