Xinhua, Hanoi :
Vietnam’s average economic growth reached 5.7 percent over the past 20 years, ranking second worldwide, according to statistics released by the World Bank (WB) Tuesday.
The figures were released by the WB at a meeting with Vietnam’s National Council for Sustainable Development and Competitiveness Improvement over Vietnam 2030 report in Vietnam’s capital Hanoi.
Vietnam needs to maintain an average growth of nine percent in the next 20 years if it plans to catch up with economies like South Korea and China’s Taiwan, Vietnam’s state-run news agency VNA quoted the WB as saying.
If the average growth reaches only five to six percent a year, the country will then fall into the middle income trap, according to the bank.
The WB and the Vietnamese government are jointly conducting the report of “Vietnam 2030”, which aims at putting forward proposals for the country to develop faster, more sustainable in the coming years, according to VNA.
The report is expected to complete at the end of 2015.
Vietnam’s average economic growth reached 5.7 percent over the past 20 years, ranking second worldwide, according to statistics released by the World Bank (WB) Tuesday.
The figures were released by the WB at a meeting with Vietnam’s National Council for Sustainable Development and Competitiveness Improvement over Vietnam 2030 report in Vietnam’s capital Hanoi.
Vietnam needs to maintain an average growth of nine percent in the next 20 years if it plans to catch up with economies like South Korea and China’s Taiwan, Vietnam’s state-run news agency VNA quoted the WB as saying.
If the average growth reaches only five to six percent a year, the country will then fall into the middle income trap, according to the bank.
The WB and the Vietnamese government are jointly conducting the report of “Vietnam 2030”, which aims at putting forward proposals for the country to develop faster, more sustainable in the coming years, according to VNA.
The report is expected to complete at the end of 2015.
