Economic freedom strongly linked to success: EuroCham | Company

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Dr. Rainer Zitelmann speaks on the topics of business and wealth in Vietnam during a EuroCham conference held in Hanoi on September 22. (Photo: VNA)

Hanoi (VNS/VNA) – from Vietnam economic success This history has been closely associated with improved economic freedom, which is likely to remain a powerful driver of the country’s socio-economic development in the future, policymakers and experts said at a conference organized by the Chamber. of European Commerce in Vietnam (EuroCham) in Hanoi on 22 September.

Addressing the conference participants, Christian-Ludwig Weber-Lortschformer German ambassador to Vietnam, said Southeast Asia’s economy has made leaps and bounds in recent decades thanks to its open market and business-friendly policies.
The former German ambassador said he was impressed by the competitive spirit of the Vietnamese and their strong will to move forward after the ravages of war.

Dr. Rainer Zitelmann, a well-known wealth researcher and author, said Vietnam has seen one of the most impressive gains in
economic freedom among the countries with more than 30 million inhabitants in the world since 1995.

He attributed the country’s economic success, which has lifted millions of Vietnamese out of poverty since the Doi Moi (reform) in 1986, to the proliferation of private entrepreneurship, a free market, strong private property rights and the government’s desire to reduce central economic planning. .

Zitelmann, who has traveled to many countries around the world for his research, said Vietnamese people, especially young people, are “especially motivated to learn how to generate wealth”.

“Among the 11 countries included in the study, Vietnam had more respondents than any other country reporting that they valued getting rich,” he said.

Vietnam is the only country where more women (78%) than men (72%) said they wanted to get rich, according to Zitelmann.

He added that Vietnamese generally consider wealthy people with positive traits such as being visionary and far-sighted, intelligent, daring, industrious and imaginative.

He, however, urged the government not to deviate from the path of success and to stick to the market economy and economic freedom.

Dr. Zitelmann has written 25 books, mostly on the topics of business and wealth. His works have been well received in Asian countries, including China, India and the Republic of Korea. Two of his best-known books, “The Wealth Elite” and “The Rich in Public Opinion”, have been published in Vietnam./.

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