WASHINGTON, Mar 2 (VNA): The US magazine "Fortune" in its February 20 edition published a special section about Vietnam entitled, "Vietnam - an investment perspective and business opportunities 2006," saying that Vietnam is Asia's best-performing economy.
The magazine stated that over the past decade, increasing amounts of foreign direct investment and booming exports have pushed Vietnam's annual economic growth rates to over seven per cent and in 2006 the government has set its sights on eight percent. Exports alone have grown at around 20 per cent over the last 10 years.
Vietnam has opted the development of the market economy and implemented far-reaching changes under its renewal (Doi Moi) policies over the last 20 years, including shifting from heavy industry to consumer goods and exports.
The results have been nothing short of spectacular: in 1993 the World Bank classified 60 per cent of the country as poor; by 2004, that figure had fallen to 25 per cent, the magazine said.