Building an Independent and Self-Reliant Economy in Globalization

The ninth National Congress of the Communist Party of Vietnam has confirmed that globalization is an inevitable trend. Consequently, the Communist Party has launched a policy that fosters integration with the global economy. A commentary in the official radio station Voice of Vietnam says that the country can work to use globalization to its benefit. Necessary ingredients to this success include maintaining a healthy economy built on sustainable development; balancing imports and exports through diversification of commodities and international markets; and using the competitiveness of globalization to drive greater efficiency in domestic industry. While the country is still committed to self-reliance and independence, it believes that further integration into the global economy will generate greater standing among fellow countries, build Vietnam's role in international organizations, and strengthen its relations with other countries. – YaleGlobal