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The event was held on May 6 by the Vietnam Embassy to Venezuela and the Permanent Commission on Finance and Economic Development of the Venezuelan National Assembly.

The Vietnam Embassy to Venezuela coordinated with the Permanent Commission on Finance and Economic Development of the Venezuelan National Assembly coordinated to hold a virtual seminar named "Vietnam's Doi Moi- Experiences for Venezuela" on May 6.

According to Vietnam Embassy to Venezuela, the event welcomed Mr. Jesús Faría, the president of Venezuelan National Assembly's Permanent Commission on Finance and Economic Development; Mr. Le Viet Duyen, Vietnam Ambassador to Venezuela; Assoc. Prof. Dr. Nguyen Viet Thao, President of Vietnam - Venezuela Friendship Association; Mr. Wilmar Castro, Venezuelan Minister of Agricultural Production and Land; Ms. Eneida Lugo, Deputy Minister of National Trade; Mr. Hector Silva, Deputy Minister of Economy, Finance and Foreign Trade; Mr. Braian Vargas, Deputy Minister of Tourism và National Assembly members, representatives from the government, states, organizations, and groups.

In his remark, Assoc. Prof. Dr. Nguyen Viet Thao highlighted achievements gained by Vietnam after 35 years of renewal. He stressed that the Doi Moi (Renewal) process had brought Vietnam a new appearance to Vietnam, which possessed brand new and of great historical significance. Through the right directions and policies issued by the Vietnam Communist Party, together with the heartful and active participation of all economic sectors and social classes, the country had overcome crises and gradually improved production activities, aiming to developed agriculture.

After 10 years of Doi Moi, Vietnam got out of underdevelopment and entered the list of middle-income countries. From a war-torn, besieged, embargoed country, Vietnam has grown to become a middle-income country with an economic size of about USD 343 billion, ranked 4th in ASEAN. In 2020, its GDP reached USD 3,521, ranked 6th in ASEAN. In addition, Vietnam has established diplomatic relations with more than 190 countries around the world. The country is now an attraction for foreign direct investment with nearly USD 400 billion have been invested into Vietnam, ranked 42nd out of 131 countries in terms of renewal index.

Also at the event, the President of Vietnam - Venezuela Friendship Association Nguyen Viet Thao presented some characteristics and lessons learned in Doi Moi in Vietnam that Venezuela can apply to its process of consolidation and development in the current context.

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