The Sunday Times, a Sunday edition of The Straits Times, has published an article commenting that in the pandemic-battered environment, few countries are approaching a major leadership transition amid conditions as rosy as Viet Nam's.

Illustrative image (Photo: VNA)

With domestic coronavirus infections largely under control, its economy is expected to outpace the region at 6.7 per cent growth this year.

A recently sealed free trade agreement with the European Union (EU) makes the country even more attractive as a harbour for foreign investors.

While airlines around the region hit the dust, Viet Nam's fifth carrier launched its maiden flight last month.

Meanwhile, a high-profile anti-corruption drive has sidelined potential opposition and improved public opinion of the ruling Communist Party of Viet Nam, according to the article.

The article quoted Dr. Le Thai Ha from the Fulbright School of Public Policy and Management as saying that Vietnam is on a firm footing. The government has managed to lower public debt, increase foreign currency reserves and create a more conducive environment for start-ups.

According to the paper, the 13^th National Party Congress, scheduled for 25 January – 2 February, will outline socio-economic development orientations and appoint top politicians for a new tenure.

In the article, Dr. Le Thu Huong, a senior analyst from the Australian Strategic Policy Institute, said the next leadership will have to steer the country through the very challenging post-COVID-19 environment.

Viet Nam needs to harness the potential consequences of the US-China trade war, which makes the country an attractive market, and also harness the early recovery from COVID-19, she said, adding that Vietnam will also have to restructure its economy to make the most of the free trade agreements with the EU and 14 other countries in the Regional Comprehensive Economic Partnership (RCEP) agreement that it signed last year.

Source: VNA