Vietnam maintains political stability, economic success in 2024: scholar

In a recent interview with the Vietnam News Agency (VNA)'s resident correspondents in Sydney, Thayer said despite significant leadership changes in the year, Vietnam has maintained political stability, helping consolidate the confidence of local people and foreign investors and positioning the country for a smooth approach to the upcoming 14th National Party Congress.

Along with the fight against corruption to build a strong Party towards the future, the scholar said he has been impressed by Vietnam’s burgeoning economy, with a projected growth rate between 6.1% and 7% and substantial increases in industrial production, trade and exports this year. The country also raised minimum wage for workers and have successfully controlled inflation and sustained macro-economic stability.

Vietnam also obtained robust economic achievements, he said, given 14 out of 15 socio-economic targets fully completed as announced by Prime Minister Pham Minh Chinh at the National Assembly's 8th session.

Looking forwards to 2025, the Australian professor underscored the significance of maintaining the momentum attained this year, suggesting the country focus on institutional reforms to facilitate business development.

Touching on foreign affairs, he said Vietnam has made major strides in international diplomacy, developing dozens of partnerships and comprehensive strategic partnerships with key nations, including Australia, France and Malaysia, as part of the consistent policy of multilateralisation and persification of external relations. These achievements have helped elevate the country’s position in ASEAN and the global community as a whole.

He particularly laid stress on the depth and potential of the Vietnam – Australia comprehensive strategic partnership, saying the two countries have engaged in multiple discussions in such areas as trade, security, energy, minerals, community health, climate resilience and people-to-people exchange. Thayer anticipated potential collaboration in military modernisation, search and rescue activities, as well as peacekeeping and humanitarian missions.

Regarding the human right issues, Vietnam has garnered international support through its election to the UN Human Rights Council, representing the Asia-Pacific region, for the second term, he said, adding the country has worked to ensure gender equality, sustainable development goals, and equal treatment for ethnic minority groups./.