Economic freedom strongly linked to success: EuroCham

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VIETNAM, September 22 – HÀ NỘI — Việt Nam’s economic success has been closely associated with improved economic freedom, which is likely to remain a strong driver of the country’s socio-economic development in the future, policymakers say and experts at a conference organized by the European Chamber of Commerce in Việt Nam (EuroCham) in Hà Nội on Thursday.

Addressing the conference participants, Christian-Ludwig Weber-Lortsch, former German Ambassador to Việt Nam, said Southeast Asia’s economy has made giant leaps in the past decades. thanks to its open market and business-friendly policies.

The former German ambassador said he was impressed by Vietnam’s competitive spirit and strong will to move forward after the devastation of war, drawing comparison with his home country.

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

He attributed the country’s economic success, which has lifted millions of Vietnamese out of poverty since the Đổi Mới (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”.

“Of the 11 nations included in the study, Việt Nam had more respondents than any other nation reporting that they enjoyed getting rich,” he said.

Việt Nam 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 South Korea. Two of his best-known books “The Wealth Elite” and “The Rich in Public Opinion” were published in Việt Nam. VNS

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