(VOVworld) – The international press continues to cover the 12^th National Party Congress, focusing on policies and development prospects for Vietnam’s economy.

Hanoi streets are full of flags and flowers to welcome the 12th National Party Congress (Photo: VNA)

International experts spoke highly of Vietnam’s reform efforts and open-door policy, saying that Vietnam needs to take this opportunity to become Asia’s leading export center. Expert Christian Lewis of the Asia-Europe consultancy group in New York said that after the 12^th National Party Congress, Vietnam would continue to pursue its current economic reform and trade policies. The new leaders will continue Vietnam’s commitment to implement the Trans-Pacific Partnership agreement and other major trade treaties, including the Free Trade Agreement with the EU. Carl Thayer from Australia’s National Institute for Defense Studies said after the Congress, Vietnam’s diplomatic policies would continue to focus on economic growth, international integration and enhancing national defense.

On Thursday, France’s “Les Echos” newspaper ran an article saying that the 12^th National Party Congress is expected to consider and approve Vietnam’s socio-economic development plan for the next 5 years with the aim of raising income per capita to around 3,500 USD per year in 2020, maintain the inflation rate below 5 percent and keep the budget deficit to no less than 4 percent of GDP.

The online “Financial Times” said that Vietnam was benefiting as manufacturers seek new destinations to reduce production costs. Meanwhile, the Japan Times newspaper said Vietnam’s latest draft socio-economic development plan highlights the significance of the private economic sector and calls for further privatization of state-owned enterprises. The newspaper quoted the IMF as saying that if Vietnam can achieve the target of GDP growth of 7 percent over the next 5 years, the nation would become one of the Asia-Pacific region’s fastest growing economies.