The socialist-oriented market economy of the Socialist Republic of Vietnam is the 47th largest economy in the world measured by nominal gross domestic product (GDP) and the 35th largest in the world measured by purchasing power parity (PPP). This country is a member of APEC, ASEAN, and WTO.
Since the mid-1980s, through the period of Doi Moi reforms, Vietnam has shifted from a centralized command economy to a mixed economy using directive and indicative planning through a five-year plan. During that period, the economy has experienced rapid growth. In the twenty-first century, Vietnam was in a period integrated into the global economy. Almost all Vietnamese companies are small and medium enterprises (SMEs). Vietnam has become a leading agricultural exporter and serves as an attractive destination for foreign investment in Southeast Asia. In a manner similar to other Communist countries after the end of the Cold War, Vietnam's planned economy lost momentum for sustainable productivity and growth. In the current period, Vietnam's economy relies heavily on foreign direct investment to attract capital from abroad to support sustained economic rigidity. Foreign investment in luxury hotels and sectors and resorts will increase to support the upscale tourism industry.
According to estimates by PricewaterhouseCoopers in February 2017, Vietnam is perhaps the fastest growing economy in the world, with annual GDP growth potential of around 5.1%, which will make it the 20th largest economy in the world by 2050.
Vietnam has been mentioned among the Next Eleven and CIVETS countries. Although economic achievements follow Doi Moi, there are problems that have caused many analysts and researchers to remain worried about the economic slowdown in the country in recent years.
Video Economy of Vietnam
History
To 1858
Civilization in Vietnam has been built in agriculture. The feudal dynasties always regarded agriculture as the main economic base, and their economic thought had been based on physiocracy. Land ownership is regulated, and large-scale jobs such as embankments are constructed in the Red River Delta to facilitate wet rice cultivation. In peacetime, soldiers were sent home to do agricultural work. Furthermore, the court banned slaughter of buffalo and cattle and held many ceremonies related to agriculture. Crafts and arts are valued, but trades are no longer used, and entrepreneurs are called in disparaging terms
From the 16th century, Confucianism lost its influence on Vietnamese society and the monetary economy began to flourish. Early commercial ports, such as H? I An, constrained, and foreign countries with their different cultures and their invasion ambitions are seen as threats. This closure policy caused a stagnation rate in Vietnam's economy, and contributed to Vietnam being a French colony.
1858-1975
Until French colonialism in the mid-19th century, Vietnam's economy was largely agrarian, subsistence-based and village-oriented. However, the French invaders deliberately developed these areas differently because the French needed raw materials and markets for French manufactured goods, pointing South to agricultural production because it was more suitable for agriculture, and North for manufacturing as it is naturally rich in mineral resources. Despite its plan to exaggerate regional divisions, export developments - coal from the North, rice from the South - and imports of French manufactured goods boosted domestic trade. That separation distorts Vietnam's basic economy by overemphasizing regional economic differences. In the South, while irrigated rice remains a major subsistence crop, France introduces plantation agriculture with products such as tea, cotton, and tobacco. The colonial government also developed several extractive industries, such as coal mining, iron, and nonferrous metals. The shipbuilding industry begins in Hanoi; railroads, roads, power plants, and hydraulic works were built. In the South, agricultural development is concentrated on rice cultivation, and, nationally, rice and rubber are the main export goods. Domestic and foreign trade is centered around the Saigon-Cholon region. The industry in the South consists mainly of food processing plants and factories producing consumer goods.
When the North and South were divided politically in 1954, they also adopted different economic ideologies: communism in the North and capitalism in the South. The destruction caused by the Second Indochina War from 1954 to 1975 seriously pressured the economy. The situation is exacerbated by the 1.5 million military and civilian deaths of the country, and the subsequent exodus of 1 million refugees, including tens of thousands of professionals, intellectuals, technicians and skilled workers.
1976-1997
The Government's Second Five-Year Plan (1976-1981) aims for an unusually high annual growth rate in the industrial and agricultural sectors and national income and seeks to integrate North and South, but goals are not achieved. The economy remains dominated by small-scale production, low labor productivity, unemployment, material and technological deficiencies, and inadequate food and consumer goods. The simpler goal of the Third Five-Year Plan (1981-85) is a compromise between ideological and pragmatic factions; they emphasize the development of agriculture and industry. Efforts are also made to decentralize planning and improve the managerial skills of government officials.
After reunification in 1975, Vietnam's economy was overwhelmed by major difficulties in production, imbalances in supply and demand, inefficiencies in distribution and circulation, rising inflation rates, and rising debt problems. Vietnam is one of the few countries in modern history to experience a sharp economic slowdown in the postwar reconstruction period. The economy of peacetime is one of the poorest in the world and has shown a very negative growth until very slowly in the national total output as well as in agricultural and industrial production. Vietnam's gross domestic product (GDP) in 1984 was worth US $ 18.1 billion with per capita income estimated at between US $ 200 and US $ 300 per year. The reasons for this mediocre economic performance have included severe climatic conditions affecting agricultural crops, mismanagement of bureaucracies, the abolition of private property, the blackening of entrepreneurship classes in the South, and Cambodian military occupation (which resulted in the much-needed international aid cuts for reconstruction).
From the late 1970s to the early 1990s, Vietnam was a member of the Comecon, and therefore relied heavily on trade with the Soviet Union and its allies. Following the dissolution of Comecon and the loss of its traditional trading partners, Vietnam was forced to liberalize trade, lower exchange rates to boost exports, and embark on economic development policies.
In 1986, Vietnam launched a campaign of political and economic reforms that introduced reforms to facilitate the transition from a centralized economy to a "market-oriented socialist economy". ?? i M? i combines government planning with free market incentives and encourages the formation of private business and foreign investment, including foreign-owned companies. Furthermore, the Vietnamese government stressed the need to reduce the birth rate while developing the economic and social rights of the population by adopting a policy that limits the number of children per household into two, called the two-child policy. In the late 1990s, the success of business and agricultural reforms led under ?? I? I'm proven. More than 30,000 private businesses have been created, the economy grew at an annual rate of more than 7%, and almost half of poverty.
Throughout the 1990s, exports increased by 20% to 30% within a few years. In 1999, exports accounted for 40% of GDP, an impressive performance in the midst of the economic crisis that hit other countries in Asia. Vietnam became a member of the World Trade Organization (WTO) in 2007, which freed Vietnam from textile quotas enacted worldwide as part of the Multi Fibre Arrangement (MFA) in 1974. The MFA places restrictions on imports by textile-producing countries from developing countries. For China and other WTO members, however, the textile quota under the MFA expires at the end of 2004 as agreed in the Uruguay Round trade negotiations in 1994.
Development since 1997
Vietnam's economic policy after the 1997 Asian Financial Crisis has been a caution, emphasizing macroeconomic stability rather than growth. While the country is shifting towards a more market-oriented economy, the Vietnamese government continues to hold strict governance over key sectors of the country, such as banking systems, state-owned companies and foreign trade. GDP growth fell to 6% in 1998 and 5% in 1999.
The signing of the Bilateral Trade Agreement (BTA) between the United States and Vietnam on 13 July 2000, is an important milestone. BTA provides the status of "normal trading relationship" (NTR) of Vietnamese goods in the US market. It is expected that access to the US market will enable Vietnam to accelerate its transformation into a manufacturing-oriented export-oriented economy. Furthermore, this will attract foreign investment, not only from the US, but also from Europe, Asia, and other regions.
In 2001, the ruling Communist Party of Vietnam approved a 10-year economic plan that enhanced the role of the private sector, while reaffirming the virtue of the state. Growth then increased to 6% to 7% between 2000 and 2002 even in the midst of global recession, making it the second fastest economy in the world. At the same time, investment grew threefold and domestic savings fivefold.
In 2003, the private sector accounted for more than a quarter of all industrial output. However, between 2003 and 2005, Vietnam fell drastically in the ranking of the World Economic Forum's global competitiveness report, largely due to negative perceptions of the effectiveness of government agencies. Official corruption is endemic, and Vietnam lags behind in property rights, efficient market regulation, and labor and financial market reform.
Vietnam had an average GDP growth of 7.1% per year from 2000 to 2004. GDP growth was 8.4% in 2005, the second largest in Asia, just behind China. The government estimates that GDP grew in 2006 by 8.17%. According to the Minister of Planning and Investment, the government is targeting GDP growth of around 8.5% in 2007.
On 7 November 2006, the General Council of the World Trade Organization (WTO) approved the accession package of Vietnam. On January 11, 2007, Vietnam officially became the 149th member of the WTO, after 11 years of preparation, including eight years of negotiations. State access to the WTO is intended to provide an important boost to the economy, as it ensures that liberalization reforms continue and create options for trade expansion. However, WTO accession also brings a serious challenge, which requires the economy to open up ever-increasing foreign competition.
Vietnam's economy continues to grow at an annual rate of more than 7%, one of the fastest growing in the world, but growing from a very low base, due to the crippling effects of the Vietnam War from the 1950s to the 1970s, as well as austerity measures introduced afterwards. In 2012, the communist party was forced to apologize about the mismanagement of the economy after a large number of state-owned companies went bankrupt and inflation increased. The main danger has exceeded bad debt in banks by 15% and forecast growth is 5.2% for 2012 but this is also due to the global economic crisis. The government has launched a scheme to reform the economy, however, such as lifting foreign ownership cap from 49% and partly the privatization of state-owned enterprises that have been responsible for the recent economic downturn. By the end of 2013, the government is expected to privatize 25-50% of SOEs, retaining only control over public services and the military. The recent reforms have created a huge boom in Vietnam's stock market as confidence in Vietnam's economy returns.
Over the last 2 decades, Vietnam has experienced a rapid construction boom that contributes to economic growth but also causes a "bubble" for the economy. Skyscrapers bubble in big cities. According to Skyscrapercity, in 2013, the three tallest buildings in Vietnam are Hanoi Landmark 72 (336m), Hanoi Lotte Center (267m), and Saigon Bitexco Financial Tower (263m).
The current economic turmoil of Vietnam has raised questions about the new period of political economic change, however. Poverty remains a major concern on the national performance index by 2018. The Provincial and Public Administration Performance Index (PAPI) found that 28% of survey respondents described poverty as their main problem. Most respondents agreed with the statement that "[P] 40% reduction is crucial to ensure that Vietnam is an advanced developed country.The percentage of poorest Vietnamese respondents who believe that their economic situation will deteriorate increases from 13% in 2016 to 26% 2017. The percentage of respondents with health insurance increased from 74% in 2016 to 81% in 2017, with the largest increase in the rural population group.
In 2017, Transparency International, a nonprofit that tracks Vietnam's ranking as 113 worst of 176 countries and regions for perception of corruption. Some of the corruption cases found in 2016 and 2017 led to corrupt actions that required many bankers, businesses, and government officials under corruption allegations. PAPI found that bribery in public district hospital services decreased from 17% in 2016 to 9% by 2017. The land seizure report dropped from an average of about 9% before 2013, to less than 7% in 2017. The number of respondents believe that their land is sold at fair market value decreased from 26% in 2014 to 21% by 2017. Graft of small land use and graft, such as police officers taking bribes, is common. Vietnam has privatized many state-owned operations to reduce corruption and improve efficiency.
Maps Economy of Vietnam
Economic sector
Agriculture, fisheries and forestry
In 2003, Vietnam produced about 30.7 million cubic meters of timber. The production of sawn timber is 2,950 cubic meters lower. In 1992, in response to forest loss, Vietnam imposed a ban on the export of logs and raw logs. In 1997, the ban was extended to all wood products except for wooden artifacts. During the 1990s, Vietnam began to reclaim land for forests with tree planting programs.
Vietnam's fishing industry, which has abundant resources in view of the country's long coastline and extensive river and lake networks, has generally grown moderately. In 2003, the total catch was around 2.6 million tons. However, marine exports increased fourfold between 1990 and 2002 to more than US $ 2 billion, driven in part by Southern shrimp farms and "catfish", which are distinct species from their American counterparts, but are marketed in the United States under the same name. By selling large quantities of shrimp and catfish to the US, Vietnam has sparked antidumping complaints by the United States, which charges tariffs in case of catfish and is considering doing the same for shrimp. In 2005, the seafood industry began to focus on domestic demand to compensate for the decline in exports.
Vietnam is one of the top rice exporting countries in the world, but the limited sophistication of Vietnam's small-scale farmers causes quality suffering.
Vietnam is the second largest exporter of coffee in the world.
Energy, mining and minerals
Oil is the main energy source, followed by coal, which accounts for about 25% of the country's energy (excluding biomass). Vietnam's oil reserves are in the range of 270-500 million tons. Oil production rose rapidly to 403,300 barrels per day (64,120 m 3 /d) in 2004, but output is believed to have peaked and is expected to decline gradually.
In 2003, mining and quarrying accounted for 9.4% of GDP, and the sector employs 0.7% of the workforce. Petroleum and coal are major mineral exports. Also mined are antimony, bauxite, chromium, gold, iron, natural phosphates, lead, and zinc.
Crude oil was Vietnam's main export until the late 2000s, when high-tech electricity manufacturing emerged to become the largest export market (in 2014, crude oil made up only 5% of Vietnam's exports, compared to 20% of all exports in 1996). This is partly because Vietnamese crude oil peaked in 2004, when crude oil accounted for 22% of all export earnings. Oil exports are in the form of crude oil because Vietnam has a very limited refining capacity. Vietnam's only operational refinery, a facility in Cat Hai near Ho Chi Minh City, has a capacity of only 800 barrels per day (130 m 3 /d). Refined petroleum accounted for 10.2% of total imports in 2002. In 2012, Vietnam has only one refinery, the Dung Quat refinery, but the second, the Nghi Children's Refinery is planned and scheduled for construction by May 2013.
Vietnam's anthracite coal reserves are estimated at 3.7 billion tons. Coal production was nearly 19 million tonnes in 2003, compared with 9.6 million tonnes in 1999. Vietnam's potential natural gas reserves are 1.3 trillion cubic meters. In 2002, Vietnam brought a land of 2.26 billion cubic meters of natural gas. Hydroelectric power is another energy source. In 2004, Vietnam justified a plan to build a nuclear power plant with Russian aid, and a second by a Japanese group.
Industry and manufacturing
Although the industrial sector accounted for 40.1% of GDP in 2004, it only employs 12.9% of the workforce. In 2000, 22.4% of industrial production was caused by non-state activities. From 1994 to 2004, the industrial sector grew at an average annual rate of 10.3%. Manufacturing accounted for 20.3% of GDP in 2004, while employing 10.2% of the workforce. From 1994 to 2004, GDP production grew at an average annual rate of 11.2%. The main manufacturing sectors - food processing, cigarettes and tobacco, textiles, chemicals, and electronic goods - experienced rapid growth. Benefiting from its proximity to China with lower labor costs, Vietnam is becoming a new manufacturing hub in Asia, especially for Japanese and Korean companies. For example, Samsung produces about 40% of its phones in Vietnam.
Services and tourism
In 2004, services accounted for 38.2% of gross domestic product (GDP). From 1994 to 2004, the GDP attributable to the service sector grew at an average annual rate of 6.0%.
In 2012, Vietnam receives 6.8 million international visitors and the number is expected to reach more than 7 million by 2013. Vietnam continues to emerge as an attractive destination. In Tripadvisor's list of 25 top destinations of Asia 2013 by choice of tourists, there are four cities of Vietnam, namely Hanoi, Ho Chi Minh City, Hoian and Halong.
2016 is the first year that Vietnam welcomes more than 10 million international visitors.
Banking and finance
Banking
The most efficient and reliable banks are the largest (also state-owned) banks: VietinBank, BIDV, and Vietcombank. The banking sector is dominated by these three institutions. There is also a trend of foreign investment into profitable banks. For example, VietinBank is currently owned by Bank of Tokyo Mitsubishi UFJ (20%) and International Finance Corporation (10%) while Vietcombank is owned by Mizuho (15%).
(NOTE: The exchange rate as of December 30, 2016. Source: tradeeconomics.com 1 USD = 22,769 VND)
Financial
Vietnam has two stock trading centers, the HCMC Securities Trading Center and the Hanoi Securities Trading Center, which run the Ho Chi Minh Stock Exchange (HOSE) and the Hanoi Stock Exchange (HNX), respectively.
Currency, exchange rate, and inflation
Currency
Vietnam's currency is Vietnam.
Exchange rate
The exchange rate between the US dollar and Vietnam is important because dong, although not free conversion, is loosely pegged to the dollar through an arrangement known as "crawling nails". This mechanism allows the dollar-dong exchange rate to adjust gradually to change market conditions. On January 1, 2017, one US dollar is worth 22,769 Vietnamese. Ng.
Gold still maintains its position as a physical currency to some extent, despite seeing its declining economic role in recent years.
The latest foreign exchange rates can be found at VietinBank.vn.
Inflation
The Vietnamese economy experienced a period of hyperinflation in the early years of an extensive reform program, especially from 1987 to 1992.
In 2008, inflation was tracked at 20.3% for the first half of this year, up from 3.4% in 2000, but down significantly from 160% in 1988.
In 2010, inflation reached 11.5%, and 18.58% in 2011.
By the end of 2012, inflation reached 7.5%, a significant decrease from 2011.
In 2013, inflation stood at 6%, and 4.09% in 2014. In 2016, only 2%
Mergers and acquisitions
With 1,120 incoming transactions with a cumulative value of nearly 15 billion. USD, there is tremendous interest by foreign companies to gain access to the Vietnamese market or continue expansion using mergers and acquisitions. From 1991 to February 2018, Vietnamese companies engaged either as acquirers or acquired companies in 4,000 mergers and acquisitions totaling 40.6 billion. USD. Merger and acquisition activities face many obstacles, lowering the success rate of transactions. Common barriers come from culture, transparency, and legal aspects. The Institute for Mergers, Acquisitions and Alliances that have been active in Vietnam since 2006 and M & A, Christopher Kummer, thinks that after the peak in 2016 and 2017 the trend will decline by 2018. Among the biggest and most prominent transactions since 2000 are:
All of the top 10 deals go to Vietnam and nothing comes out.
Trading
Economic relations with the United States are improving, but not without challenges. Although the United States and Vietnam reached an important bilateral agreement in December 2001, which helped boost Vietnam's exports to the United States, disputes over textile and catfish exports hampered the full implementation of the agreement. Further disrupting economic relations between the two countries is an attempt at Congress to link non-humanitarian aid to Vietnam's human rights record. Trade barriers and intellectual property are also within the scope of bilateral discussions.
Given the rapid influence of China's economy, Vietnam highly values ​​economic relations with China. Following the completion of most territorial disputes, trade with China grew rapidly, and in 2004, Vietnam imported more products from China than from other countries. In November 2004, the Association of Southeast Asian Nations (ASEAN), where Vietnam became a member, and China announced plans to build the world's largest free trade area by 2010.
Vietnam became a member of the World Trade Organization (WTO) on 11 January 2007.
In December 2015, Vietnam joined the ASEAN Economic Community together with 9 other ASEAN members. The aim of the community is to integrate 10 ASEAN members and bring a wider flow of labor, investment and trade to the region.
International trade
Trade and trade balance
Since ?? i M? I in 1986, Vietnam has increased trade, growing both exports and imports in double digits ever since. Recently, alarms on trade account deficits have been raised domestically, especially after joining the WTO in 2007. Over the next five years after 2007, Vietnam suffered trade deficits with other countries in the world with tens of billions of dollars, noting deficits trade in 2008 amounted to US $ 18 billion.
Account deficit has decreased. In 2012, Vietnam recorded a trade surplus of US $ 780 million, its first trade surplus since 1993. Total trade reached US $ 228.13 billion, up 12.1% from 2011. In 2013, Vietnam posted a second year trade surplus of US $ 863 million. In 2014, Vietnam recorded a third year trade surplus of US $ 2.14 billion, the largest trade surplus in history. Three years later, in 2017, it surpassed him with a record $ 2.92 billion.
Export
In 2004, Vietnam's merchandise exports were valued at US $ 26.5 billion, and, growing rapidly in line with imports. The main exports of Vietnam are crude oil (22.1%), textiles and garments (17.1%), footwear (10.5%), fishery products (9.4%) and electronics (4.1%). The main export destinations of Vietnam are the United States (18.8%), Japan (13.2%), China (10.3%), Australia (6.9%), Singapore (5.2%), Germany (4, 0%), and English (3.8%).
In 2012, exports rose 18.2%, worth US $ 114.57 billion. Vietnam's main export markets include the EU with US $ 20 billion, the United States with US $ 19 billion, ASEAN with US $ 17.8 billion, Japan with US $ 13.9 billion, China with US $ 14.2 billion, and Korea South with US $ 7 billion.
In 2013, exports rose 15.4%, worth US $ 132.17 billion, with electronic exports currently at 24.5% of total exports, compared to 4.4% in 2008. Textiles and garments remain an important part in Vietnamese exports, which are valued about the US. $ 17.9 billion in 2013.
In 2014, exports rose 13.6%, reaching US $ 150.1 billion. Electronic and electronic components, textiles and garments, computers and computer components are the three major export groups of Vietnam. The United States continues to be Vietnam's largest export market, with US $ 28.5 billion. The second EU with US $ 27.9 billion, the third ASEAN, the fourth China and Japan is Vietnam's fifth largest export market.
Import
In 2004 Vietnam's merchandise imports were valued at US $ 31.5 billion, and growing rapidly. The main imports of Vietnam are machinery (17.5%), pure oil (11.5%), steel (8.3%), materials for textile industry (7.2%), and fabric (6.0%). The main origins of Vietnam's imports are China (13.9%), Taiwan (11.6%), Singapore (11.3%), Japan (11.1%), South Korea (10.4%), Thailand 5.8%), and Malaysia (3.8%).
Vietnam's imports rose 6.6% in 2012, valued at US $ 113.79 billion. Major import countries were China US $ 29.2 billion, ASEAN with US $ 22.3 billion, South Korea with US $ 16.2 billion, Japan with US $ 13.7 billion, EU with US $ 10 billion, and United States with US $ 6.3 billion.
In 2014, imports rose 12.1%, reaching US $ 148 billion, mostly of materials and machinery required for export. China continues to be Vietnam's largest import partner, with US $ 43.7 billion. The second ASEAN with US $ 23.1 billion, South Korea third, Japan fourth and EU is the fifth largest import partner from Vietnam.
External debt, foreign aid, and foreign investment
In 2004, foreign debt reached US $ 16.6 billion, or 37% of GDP.
From 1988 to December 2004, the cumulative foreign direct investment (FDI) commitment reached US $ 46 billion. As of December 2004, about 58% had spread. About half the FDI has been directed to the two major cities (and vicinity) of Ho Chi Minh City and Hanoi. In 2003 the new foreign direct investment commitment was US $ 1.5 billion. The largest sectors so far for licensed FDI are industry and construction. Other sectors that attract FDI are oil and gas, fisheries, construction, agriculture and forestry, transportation and communications, as well as hotels and tourism. From 2006 to 2010, Vietnam hopes to receive FDI of US $ 18 billion to support the targeted growth rate exceeding 7%. Despite increased investment, foreign investors still regard Vietnam as a risky destination, as confirmed by a recent survey by Japan's External Trade Organization of Japanese companies operating in Vietnam. Many respondents complained about the high cost of utilities, office rent and skilled labor. Corruption, bureaucracy, lack of transparent regulations and failure to enforce investor rights are additional barriers to investment, according to the US State Department. Vietnam is bound by several countries for the 102nd place in Transparencies International's Corruption Perceptions Index in 2004.
The World Bank's aid program for Vietnam has three objectives: to support Vietnam's transition to a market economy, to promote equitable and sustainable development and to promote good governance. From 1993 to 2004, Vietnam received an official development assistance pledge (ODA) of 29 billion US dollars, of which approximately US $ 14 billion, or 49%, has been disbursed. In 2004, international donors pledged ODA of US $ 2.25 billion, of which US $ 1.65 billion was actually disbursed. Three donors accounted for 80% disbursement in 2004: Japan, World Bank, and Asian Development Bank. From 2006 to 2010, Vietnam hopes to receive US $ 14 billion to US $ 15 billion from ODA.
Promised direct foreign investment of US $ 21.3 billion for 2007 and recorded US $ 31.6 billion for the first half of 2008. Mergers and acquisitions gradually became an important investment channel in the economy, especially after 2005.
Free trade agreement
- ASEAN Free Trade Area (AFTA)
- The ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) is a free trade area between ASEAN and ANZCERTA, signed on 27 February 2009 and entered into force on 1 January 2010. Details of the AANZFTA agreement are available online.
- The ASEAN-China Free Trade Area (ACFTA), effective from 1 January 2010
- The ASEAN-India Free Trade Area (AIFTA), effective from 1 January 2010
- ASEAN-Japan Comprehensive Economic Partnership (AJCEP)
- ASEAN-Korea Free Trade Area (AKFTA), effective from January 1, 2010
- Comprehensive Economic Partnership for East Asia
- Vietnam is negotiating to join the Trans-Pacific Strategic Economic Partnership Agreement.
- On May 29, 2015, Vietnam signed a Free Trade Agreement (FTA) with the Eurasian Economic Union.
- On December 2, 2015, the EU and Vietnam announced the conclusion of the negotiations for the EU-Vietnam Free Trade Agreement (FTA).
- The Vietnam-Chile Free Trade Agreement (VCFTA) entered into force on 1 January 2014.
- The Vietnam-Korea Free Trade Agreement (VKFTA) takes effect on December 20, 2015.
- The Japan-Vietnam Economic Partnership Agreement came into effect on October 1, 2009.
Primary economic field
The main economic regions of Vietnam include Ho Chi Minh City and Hanoi.
Economic indicators and international ratings
Literature
- Jandl, Thomas (2013). Vietnam in the Global Economy . Lexington Books.
References
External links
- Vietnamese economy
- National Securities Center
- Securities
- FPTS.com.vn, direct price of stock
- Summary of World Bank Trade Statistics 2012 Bank
- Vietnam: "Doi moi" and World Crisis (article)
- Mergers and Acquisitions in a Thriving Market Economy Vietnam: 1990-2009
- Tariffs are applied by Vietnam as provided by Market Access Map , an online database of customs tariffs and market requirements.
Source of the article : Wikipedia
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