Hà Nội residents pose for a photo on the occasion of the 80th anniversary of the August Revolution and National Day. — VNA/VNS Photo

JAKARTA — Veteran journalist Anthoni Mohammad of Indonesia’s Antara news agency has highlighted Việt Nam’s remarkable achievements during its Đổi mới (renewal) process, saying that they could be a valuable lesson for nations seeking sustainable development paths that balance independence, international integration, and economic growth.

In an interview with the Việt Nam News Agency (VNA)'s resident correspondent on the occasion of Việt Nam's 80th National Day (September 2), he recalled how Việt Nam emerged from war with an exhausted economy, where more than 90 per cent of the population depended on subsistence agriculture, while facing economic embargo and political isolation. In less than four decades, the country transformed into one of Asia’s most open and dynamic economies, maintaining an average GDP growth of 7 per cent annually – a development miracle rarely seen in modern history.

One of the clearest indicators of this transformation lies in Việt Nam’s economic structure. In 1986, agriculture accounted for more than forty per cent of GDP but today it drops to below twelve per cent, making way for manufacturing and services. The country has become a global production hub for electronics, textiles, footwear, and processed agricultural goods, with exports surpassing US$370 billion in 2023. This demonstrates Việt Nam’s successful shift from a traditional agricultural economy to an integral link in global supply chains, he said.

He described the capability to lure foreign direct investment (FDI) as a crucial pillar for growth. Total FDI capital now surpasses $450 billion, injected into the domains of technology, electronics, and manufacturing – processing, with multinationals like Samsung, Intel, LG, Foxconn and Toyota establishing major operations.

Việt Nam and Indonesia have been magnets for FDI, Anthoni said, stressing while Indonesia leverages its vast domestic market, Việt Nam stands out for its political stability, skilled workforce, competitive costs and commitments to international integration.

According to the journalist, diplomacy has also been a pillar of Việt Nam's success. The flexible policy with steadfast principle of independence and self-reliance has helped the country balance its relations with powers, establishing comprehensive strategic partnerships with China, the EU, India, Japan, Russia, and the US. Hà Nội’s hosting of leaders from Washington, Beijing and Moscow within a short period underscored its rare diplomatic agility, strengthening what Anthoni called Việt Nam’s “strategic autonomy” amidst fierce competition between major powers.

Anthoni cited a recent report from the UK’s Centre for Economics and Business Research predicting that Việt Nam will surpass Thailand to become Southeast Asia's second-largest economy by 2028, trailing only Indonesia, and will enter the world's top twenty economies by 2036. This could position Việt Nam and Indonesia as “twin pillars” of ASEAN, with Indonesia relying on its large domestic market and Việt Nam on export, international integration, and manufacturing.

According to the journalist, the similarities in the development journeys between Việt Nam and Indonesia make their bilateral ties even more meaningful. Both rose from colonial pasts, share aspirations to build independent, self-reliant, and modern states, while demonstrating their high adaptability to global changes through economic reforms and skillful foreign policies.

He stressed that Hà Nội – Jakarta close cooperation could help ASEAN maintain its central role in the Indo-Pacific structure, adding they boast huge potential for collaboration in the areas of trade, investment, energy transition, and maritime security.

Anthoni emphasised that Việt Nam's success is not accidental but is rooted in a development philosophy where political stability serves as the foundation, economic reform as the driving force, international integration as the means, and people as the centre. — VNA/VNS