Event in Vietnam
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VIETNAM, 2015/11/17
Vietnam’s popular President Truong Tan Sang is set to steal the show at the two-day Asia-Pacific Economic Cooperation (APEC) Leaders’ Conference in Manila this week for at least three reasons.
Initial, Vietnam — a rising star in Asia — is an epitome of free trade, the flesh and blood of APEC. Thanks to its commitment to free trade, bold economic and political reforms (doi moi), Vietnam has blossomed into a lower-middle-gain country from one of the poorest nations in the world in less than three decades.
The country, which joined APEC in 1998, utilized the regional grouping to boost its exports and become a haven for foreign investors and world manufacturers. The Vietnamese economy is still growing additional than 6 % per year despite the world financial crisis.
Vietnam’s cumulative foreign direct investment , as of June 2015, was US$257 billion, making it the third-major recipient of FDI in ASEAN next Singapore and Indonesia. Vietnam is today ASEAN’s biggest exporter to the US, according to the US Census Bureau data, with $30.58 billion of exports last year. It is becoming, in the words of a lot of, a “second China”.
