Vietnam Women's Union

UN commission praises nation's economic progress

13/04/2006

Poverty alleviation is Vietnam's overriding concern and the Government's approach to this issue has been praiseworthy, the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) has said in a report on March 30 of the results of its economic and social survey of Asia and the Pacific in 2006.

The report says not only have there been attempts in Vietnam to create a positive environment for investment, but the government is also trying to extend the benefits of economic growth to the wider society by investing in education, health, drinking water and electricity in rural areas.

The report aims at reviewing the macroeconomic implications of the 2005-2006 global economic slowdown on various economies in the Asia Pacific region.

It highlights the risks to Vietnam's economy of the further spread of avian influenza.

The survey says although the costs of containing the disease has so far been limited to about 0.1% of Vietnam's gross domestic product (GDP), individual government initiatives need to be supplemented with regional co-ordination given the cross-border nature of the threat.

It also warns that a slight slowdown in growth is expected in 2006 because of the avian influenza outbreaks as well as competition from China in the textile and garment sectors.

The report suggests that the government must continue to strive for development through a combination of macroeconomic prudence and strong investment in physical, social and human assets, so that the pace of progress can be maintained and its fruits shared more equitably.