Vietnam challenges in development
If it has good institutions and strategies, Vietnam will certainly become a rich and powerful country. Some natural resources are over exploited for exports purpose without planning. Agricultural land is scattered m is still based on habitant and qualitative; products are low competitiveness.
During this stage, if Vietnam does not have strategies on promoting development robustly and get rich before the population structure changes, it will surely face the tragedy of getting old before getting rich.
The risk of getting old before getting rich The issues of narrowing the gap of development, avoiding the risk of falling behind neighboring countries, have been discussed for a long time. By having better informed and better represented workers, international labor standards will be better respected, and Vietnamese workers will have a greater voice.
So how is it for the countries of the sub-group of low middle-income like Vietnam. While most development indicators have improved with a number of Millennium Development Goals attained ahead of the deadline, new challenges are emerging as Viet Nam enters a new phase of development.
Problems and Issues Population: The policy of renewing the growth model and restructuring areas like public investment, state-owned enterprises and the banking system is the right direction, but it must be quickly and thoroughly implemented. Flora and fauna are not only threatened by pollution and habitat encroachment, but also by poaching and illegal logging, particularly in poor rural areas.
Where is Vietnam on the ladder of population structure. This robust national annual survey of domestic and foreign invested companies provides policy-makers with reliable indicators and recommendations on how to improve local regulatory and institutional quality to support private sector development.
The FDI and the domestic sector, which are not unified to make the entire national economy. However, a new employee medical national insurance scheme has been launched and is proving popular.
This period is quite long about 50 years in Vietnam so it is needs to promote education at higher levels to gradually shift the comparative advantage from labor-intensive industries to sectors that use highly skilled workers. Many small SOEs have been equitized or privatized, but the large SOEs were reorganized into economic groups and turned into interest groups which are protected and enjoy many privileges such as priority access to capital, land and investment information.
Due to the rule of changes of the population structure, the right development path of a country is that from the second stage; it has to prepare the preconditions for strong development in the third stage, for example, quickly popularizing basic education, building infrastructure, and perfecting the legal framework.
This functioning chaos contrasts sharply with the mostly prudent macroeconomic course that Vietnam has been taking. In the world, there are not many countries like Vietnam, which has a big population with the high unification of culture and language.
In other words, if the middle-income countries are divided into two sub-groups, the matter of the middle-income trap has so far involved only the upper middle-income countries. The rapid growth of urban economy and industry has not been linked harmoniously with rural economy and society.
In the recent renewal period, the markets of production factors such as the capital market, the labor market and the land market developed slowly or developed badly, and the reform of state-owned enterprises SOEs took place slowly and not thoroughly. Vietnam has about 10 years before the stage of golden population structure ends.
To cope with this situation, it requires extraordinary efforts of responsible people.
We can say that without strong reform, especially if Vietnam does not adequately address corruption, Vietnam may fall into the low middle-income trap. In the family, male dominance relegates women to menial tasks, limits their freedom and legitimates risky sexual behaviour by men.
Tran Van Tho professor tran van tho, Waseda University, vietnam renovation, doi moi, vietnam. If this situation does not change, the economy of Vietnam will be split into two separate areas. Thailand and Malaysia are hemmed in by the so-called "middle-income trap", which suggests that while countries can move up from the ranks of the very poor, moving further forward is more complex, as competitiveness falls off and costs for investors increase.
Each year, numerous diagnostic workshops at the provincial level provide a unique platform for public-private dialogue. Inthe project supported the development and launch of a mobile app to promote wide access to the PCI rankings, report and related data and today, all 63 provinces have PCI improvement plans.
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Nov 16, · VietNamNet Bridge - The current challenges show that Vietnam does not have much time left. If it does not urgently develop appropriate strategies, the country will fall into prolonged stagnation, a kind of middle-income trap. Vietnam’s development record over the past 30 years is remarkable.
Economic and political reforms under Đổi Mới, launched inhave spurred rapid economic growth and development and transformed Vietnam from one of the world’s poorest nations to a lower middle-income country.
Vietnam challenges in development