Vietnam, China share development experiences

The Vietnamese Academy of Social Sciences held a seminar in Hanoi on May 27-28 to discuss China’s open-door policy, reforms in Vietnam and both countries’ experiences of economic development in the context of the global financial crisis.

Scholars from China and Vietnam discussed the building of practical socialism in each country, economic models in China and real state in Vietnam as well as the impact of the financial crisis and economic downturn.

Reports at the seminar referred to the important role that local authorities play in bringing about reform and reconstruction in both countries. Guangzhou, in particular, from its very backward agricultural base has now become a leading province in China in terms of economic development.

A number of localities in Vietnam have also taken measures to stimulate economic development and have called for both local and foreign investors, and every province and city across the country is striving to improve their competitive capacity.

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