Middle-income countries (MICs) should play a greater role in the global partnership by sharing their development experience, Deputy Minister of Planning and Investment Nguyen Chi Dung has said.
He made the remark at a discussion of the first high-level meeting of the Global Partnership for Effective Development in Mexico on April 16.
The official further said that Vietnam agrees on the meeting’s communiqué which calls on development partners to base their assistance for MICs on their development stage instead of their income level.
Vietnam’s economy generates some 154 billion USD every year with an annual trade growth rate of over 20 percent while per capita income stands at 1,700 USD a year, he added.
Dung said the country is now facing issues arising during the transition from low- to middle-income status, for example those relating to infrastructure, competitiveness, workforce quality, income gap and climate change. He added that Vietnam will be caught stuck in the middle-income trap if it cannot overcome these challenges.
The official noted the country aims to raise the gross domestic product per capita income to 3,000 USD by 2020. To that end, the Vietnamese Government focuses on completing the market mechanism, building a comprehensive and modern infrastructure, developing human resources and restructuring the economy.
Within the meeting’s framework, the Deputy Minister attended bilateral meetings, plenary sessions and discussions.-VNA
He made the remark at a discussion of the first high-level meeting of the Global Partnership for Effective Development in Mexico on April 16.
The official further said that Vietnam agrees on the meeting’s communiqué which calls on development partners to base their assistance for MICs on their development stage instead of their income level.
Vietnam’s economy generates some 154 billion USD every year with an annual trade growth rate of over 20 percent while per capita income stands at 1,700 USD a year, he added.
Dung said the country is now facing issues arising during the transition from low- to middle-income status, for example those relating to infrastructure, competitiveness, workforce quality, income gap and climate change. He added that Vietnam will be caught stuck in the middle-income trap if it cannot overcome these challenges.
The official noted the country aims to raise the gross domestic product per capita income to 3,000 USD by 2020. To that end, the Vietnamese Government focuses on completing the market mechanism, building a comprehensive and modern infrastructure, developing human resources and restructuring the economy.
Within the meeting’s framework, the Deputy Minister attended bilateral meetings, plenary sessions and discussions.-VNA
