Next year will be very important for Vietnam

Next year will be very important for Vietnam. At present, the ruling Communist Party is busy in the preparations for its 13th National Congress (General Assembly). The plenary is scheduled to take place in January. The most important political event is the National Congress of the Communist Party for Vietnam. This time the world is eyeing this convention, because a special success of Vietnam caught the attention of the whole world in the passing year ie 2020. There are very few countries in the world, for which 2020 is considered a year of success.

Vietnam’s one major breakthrough this year was the almost perfect escape from the Corona epidemic. In the last eight months, only 1,400 cases of Kovid-19 infection have been reported here. While the epidemic disrupted public life in countries such as Indonesia, the Philippines, and even Japan, this year was a normal year for the people of Vietnam.

One of Vietnam’s achievements at the international level was to become the president of ASEAN, a ten-nation organization in Southeast Asia. This is his first time getting this chance. Vietnam joined the Regional Comprehensive Economic Partnership (RCEP) agreement shortly after the ASEAN Virtual Summit. Development in Vietnam is expected to accelerate by becoming part of this world’s largest free trade agreement.

Next year will be very important for Vietnam
Next year will be very important for Vietnam

Communist Party sources say that the 13th National Congress will approve a framework for rapid economic development involving the country’s young population. This country, with a population of about one hundred million, now wants to emerge as a major economy of the Asia-Pacific region. The National Congress of the Communist Party is held every five years. In this, new leadership is elected. At the same time new economic targets are set.

Communist Party Secretary General Nguyen Fu Trong recently claimed that the country had achieved important goals of progress since the last National Congress held in January 2016. The real command of power in Vietnam rests with the Communist Party General Secretary. The 76-year-old Trong is also the country’s President and the General Secretary of the Central Military Commission. He said that Vietnam’s economy is stable. Due to the success in the anti-corruption campaign and the reshuffle of the party organization, the Vietnam government has now managed to gain more trust of its people.

According to the website Nikkai-Asia, Vietnam has benefited from the intensified trade war between the US and China this year. After 2016, the policy to improve the business environment was adopted here. This encouraged investors to increase their investment here earlier. Vietnam has become a natural new place for companies who have decided to withdraw their business from China. This year, Vietnam has achieved the fastest economic growth rate in Southeast Asia. It is now expected that the next party Congress will prove to be a turning point for the country in the same way as the Congress of 1986 and 2006.

The Communist Party adopted the Doi Moi (reform and opening doors to the world) policy during its Sixth Congress in 1986. This accelerated the development of Vietnam. Following the policy set in this Congress, Vietnam normalized its relations with China in 1991, with which it had a war in 1979. In 1995, Vietnam normalized relations with its former enemy, the US. In the same year he joined ASEAN.

At the party’s tenth congress in 2006, it was decided to include Vietnam in the World Trade Organization. As a result of the same policy, in 2009 the Samsung company opened its smartphone manufacturing factory in Vietnam for the world market. From here, the journey of Vietnam has progressed to economic development and has been achieving new status.

The International Monetary Fund has estimated that Vietnam will overtake Singapore and Malaysia in 2020 in terms of nominal GDP (GDP without adjusting inflation). Foreign companies are now investing heavily in Vietnam instead of China to avoid US tariffs. This is expected to give a further boost to the economy.

In the 12 months to June this year, Vietnam’s trade profits from the US increased by $ 58 billion. In this case, it is now behind only China and Mexico. Due to his successes, US President Donald Trump recently put Vietnam in the list of currency manipulator country. But Vietnam hopes that the Biden administration will adopt a different policy and help in its development.

Despite all the changes in the world, the Communist Party remains a unanimous rule in Vietnam. But recently, the government of Vietnam has been criticized by many circles for controlling the media. Amidst the expansion of social media and the increasing contact of Vietnamians with the rest of the world, the question is constantly asked how long the Communist Party will be able to maintain its dominance. It is speculated here that finding a response to this challenge in the 13th Congress will also be a major agenda of the party.