Beijing (VNA)🌺 - The Communist Party of Vietnam (CPV) has played a decisive and leading role in the country's current renewal process, according to Professor Liu Ying at the Chongyang Institute for Financial Studies under the Renmin University of China.

In an interview granted to the Vietnam News Agency (VNA)’s resident correspondents in Beijing on the occasion of the CPV’s 95th founding anniversary, Liu said that through scientific decisions, wise leadership, and effective policy implementation, the CPV has promoted the comprehensive development of Vietnamese society. Particularly in the economic field, it has successfully implemented the reform and open-door policies, transforming Vietnam from an agricultural country into a key economy in Southeast Asia. The CPV's leadership ensures a solid political foundation for the country's sustainable development and progress, ensuring that the nation maintains stability and development throughout the renewal process, he stated. The policies set forth by the CPV are flexible and future-oriented, helping the country effectively utilise international resources and markets in the context of globalisation, while still preserving its traditional cultural identity and national independence, the expert assessed, adding that the Party’s leadership in economic reforms, especially in persistently and gradually perfecting the socialist market economy, has enabled Vietnam to maintain political stability during the renewal process. The country has transformed from an economy primarily based on agriculture to one with strong production and export capabilities. By attracting foreign investment, developing export-oriented industries, and tapping into global markets, it has not only advanced its industrialisation but also successfully positioned itself as a key link in the global supply chain. In terms of promoting social reform and improving the living standards of the people, under the sound leadership of the CPV, Vietnam has gradually raised the quality of life for its citizens, particularly in education, healthcare, and social welfare. Evaluating the significance of the fight against corruption and the streamlining of the organisational apparatus for the leadership of the Party and the country's development, the Chinese professor emphasised that these measures not only enhance the credibility and effectiveness of the Party and the Government but also promote the modernisation of the national governance system and management capacity, while further driving economic development and social progress. Liu also expressed his belief that Vietnam will achieve many of the goals set out for the new era of the nation’s rise. First, there is a great opportunity in cooperation between China-Vietnam as the development of China has created a vast space for Vietnam’s development. China and Vietnam learn from each other, support each other, and grow together, leading to shared prosperity and progress. Second, there are opportunities provided by economic globalisation and regional integration. With the advancement of economic globalisation, Vietnam can bring into full play its geographical location and economic foundation to become a key link in regional economic cooperation, particularly through bilateral and multilateral trade agreements. This will enhance trade relations with major economies in Asia and the world, while also enabling deeper integration into the global economy, he stated. Third, there is a chance to transform and upgrade the industrial structure, he said, suggesting China and Vietnam strengthen their complementary advantages, enhance industrial cooperation, and improve collaboration in industrial and supply chains. Fourth, the professor highlighted the importance of stepping up technological progress and innovation. He proposed China and Vietnam promote technological advancements and upgrade Vietnam's industries by increasing scientific and technological innovation, attracting foreign investment, and cooperating with leading international enterprises. Fifth, the rise of the middle class and common prosperity will bring about many opportunities. With continuous economic growth and improved income levels, Vietnam's middle class is growing rapidly, driving the expansion of the domestic consumer market. This will strongly support the sustainable growth of Vietnam's economy, added Liu./.