Viet Nam Human Rights
Vietnamese people enjoy high living standards
29/3/16
A foreign consultant company announced that Vietnamese are having high living
standards, even though the income is still not too high.
According to the report of Boston Consulting Group (BCG), the quality of life
of Vietnamese is quite high, equivalent to countries that have the income of
10.000$ per year, while the average income of Vietnamese is about 5.000$ per
year.
Titled “Lotus Nation: Sustaining Vietnam’s
Impressive Gains in Well-Being”, the
BCG report shows that Vietnam is one of the leading
countries on improving the lives of people (ranked 4/149). “Vietnam's
success over the past two decades is undeniable. The country has moved from a
largely agrarian economy to one powered by manufacturing. Food is more
plentiful, health care more accessible, schooling more affordable, and
disposable incomes higher than ever”.
BCG
has conducted the survey of living-standards of people in 149 countries and the
average income is based on the measurement of Sustainable Economic Development Assessment (SEDA). SEDA is a powerful
diagnostic tool designed to provide insight into the well-being of a country's
citizens and how effectively a country converts wealth, as measured by income
levels, into well-being.
A key finding: Vietnam is among the top performers
globally when it comes to converting wealth into well-being. With GDP per
capita (based on purchasing-power parity) of about $5,200, Vietnam has a
well-being level that would be expected of a country with GDP per capita of more
than $10,000—a clear indicator that the country has successfully harnessed
limited resources for the good of its citizens.
Vietnam's
overall current-level SEDA score of 42.4 places the country in the
middle—number 79—of the 149 countries the survey conducted. Not surprisingly,
wealthy nations such as the US,
Japan, Norway, Germany,
and Singapore come out ahead
of Vietnam,
with current-level scores of 80 or above. When it comes to progress over the
seven-year period from 2006 to 2013, however, Vietnam is in the top quintile,
putting it in the company of countries such as Poland, Indonesia, China,
Brazil, Ecuador, and Morocco, all of which have had notable achievements in the
past decade.
The quality of Vietnamese life is good as Chinese
one, even the average GDP of China is double Vietnam’s GDP. The quality of Vietnamese life is even much
higher than Philippines or Thailand, while these two countries have the GDP
higher than Vietnam
(above 6.000 $).
In the report, BCG suggested that to make the
transform from the economy which depends on cheap labor and natural resources
to a modern knowledge-based economy, Vietnamese Government should adjust three
key areas including: Strengthening the links between the labor market and the
education system, upgrading the country's infrastructure and improving
governance.
Although Vietnam's gains
over the past 20-plus years have been impressive, the country's goals for the
coming years are even more ambitious.
The government's primary
economic aim is to increase income per capita to $8,000 to $9,000 (on a PPP
basis) by 2020, roughly 2.5 times the 2010 level. This would raise Vietnam's national wealth to the current level
of Indonesia's and well
above the level today in the Philippines.
The government also wants to
transform the structure of Vietnam's
economy so that 85% of GDP is derived from the industrial and service sectors,
with high-value-added industries accounting for about 45% of GDP.
The country is targeting an
unemployment rate of around 3% and plans to build a workforce in which 70% of
workers are trained (including postsecondary and vocational training) and about
55% of those individuals receive vocational training.
Achieving these objectives
would fundamentally transform Vietnam's
economy and allow the country to shed its developing-nation status. To reach
these targets, the entire Party, State and Vietnamese people have to try our
best and now firstly do well your own work to contribute to the social
achievement./.
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