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HUE, Vietnam: Senior Minister Goh Chok Tong has likened the process of Vietnam's economic development to a marathon race and said the country's run could be an uphill task in the coming years.
He made this point in discussions with Vietnam's Communist Party General Secretary Nong Duc Manh at the Party Headquarters in Hanoi on Wednesday.
Mr Nong Duc Manh told Mr Goh that Vietnam considers Singapore a good model for its development and looks forward to further cooperation.
He also sought Mr Goh's views on developments in Vietnam.
Mr Goh, impressed by what he had seen in the last two days, urged Vietnam to consider what it must do to sustain its economic growth – plans that include its macroeconomic policies.
He said Vietnam would also need to keep investing in physical infrastructure such as airports and sea ports.
To do that, the country would need to make a greater investment in its human resources, which includes acquiring the necessary management, technical and professional skills.
Although Singapore would continue to help Vietnam as much as it could, Vietnam would have to adapt Singapore's experiences to suit its needs.
In the next phase of Vietnam's development, Mr Goh suggested that the government considers the impact of fast growth on the society.
The government would also have to consider the impact of Vietnam's economic development on the environment and how inflation could be managed.
The senior minister added that he is optimistic about Vietnam's growth potential in the years to come.
- CNA/so
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