VN production capacity well above average

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) has recognised Viet Nam’s successful expansion of production capacity as going beyond global average levels.

ESCAP said at an annual meeting in Bangkok, Thailand, from May 19-25 that Viet Nam was one of the four most successful regional countries in terms of diversifying export-oriented products and expanding market share for a number of products during the past two decades.

It also lauded recent measures taken by the Vietnamese Government in ensuring social welfare, which was of great concern at the meeting in the post-crisis period.

Representatives from 62 ESCAP members shared a view that although developing economies in the region had managed to maintain an average growth rate of 8.8 per cent in 2010 – and an expected 7.3 per cent this year – they were still facing numerous challenges such as high inflation and stagnant production.

Consequently, social welfare had become an issue of great concern for the region, not only to ensure a reasonable life for people, especially the poor, but also to boost the labour force in the interest of socio-economic development, the meeting was told.

The meeting passed a number of initiatives on ESCAP priorities, ranging from stronger assistance for less developed economies, to the harmony of the environment and development, energy, and closer co-ordination of action between ESCAP and other international and regional organisations.

In this regard, head Vietnamese delegate Le Hoai Trung, who is Deputy Foreign Minister, called on ESCAP to strengthen co-operation with the Mekong River Commission and other regional organisations, after reiterating the national policy for further reforms in all fields and stronger global integration. — VNS

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