The main difference lies in wage levels, which is because our workers are not yet as well trained as in other countries. We are a poor country. This is why we must accept the conditions that prevail in international markets. But our trade unions do represent the rights of workers.

Money, as a sort of drug, has become a great danger to our development. There will be no progress in our country unless we win the fight against corruption. This is a question of survival for the Communist Party of Vietnam and for socialism.

The world is a big place, and there are many paths that lead to success. This applies to both political and economic concepts. For this reason, we see no need to stoically pursue the Chinese, American or French way. But we have socialism in common with China.

In the economy we guarantee all market players the same conditions, and the private sector plays an increasingly important role. We are in the process of dissolving thousands of state-owned companies and converting them into stock corporations. We even plan to accelerate this development. In contrast, it is the party's responsibility to improve the lives of the people, and this is where our citizens have great confidence in us. Party members who commit crimes are severely punished.

We [Vietnam] happen to offer good investment opportunities for foreigners, although this is not a one-way street. Both we and the foreign investors benefit greatly as a result.

We fought hard for socialism in a devastating war of independence and reunification. To build an affluent and prosperous society, we chose the path of a socialist market economy. We have achieved strong economic growth, and yet the sense of solidarity in our society has not been lost. This is very important to people.

The governments and the communist parties in Vietnam and China are doing their best to develop their local economies. But the rise of countries in Asia is not in opposition to development and affluence in Western nations. It is a mutually beneficial development. The interests of Western investors are protected in our country. Both we and the West benefit from this in equal measure.