AMAZING ECONOMY OF VIET-NAM The economy of Vietnam is a developing planned economy and market economy. Since the mid-1980s, through the reform period, Vietnam has made a shift from a highly centralized planned economy to a socialist-oriented market economy which use both directive and indicative planning (see Five-Year Plans of Vietnam). Over that period, the economy has experienced rapid growth. Nowadays, Vietnam is in a period of being integrated into the global economy. Almost all Vietnamese enterprises are small and medium enterprises (SMEs). Vietnam has become a leading agricultural exporter and served as an attractive destination for foreign investment in Southeast Asia. As the planned economy of Vietnam lost the momentum for productivity and sustainable growth, like most of the Communist economies in the world after the Cold War period, nowadays the economy of Vietnam relies largely on foreign direct investment to attract the capital from overseas to support its continual economic rigorousness. In 2013, the nominal GDP reached US$170.565 billion, with nominal GDP per capita of US$1,902. According to a forecast in December 2005 by Goldman Sachs, the Vietnamese economy was expected to become the 35th largest economy in the world with nominal GDP of US$436 billion and nominal GDP per capita of US$4,357 by 2025.[8] According to a forecast by the PricewaterhouseCoopers in 2008, Vietnam may be the fastest growing of emerging economies by 2025, with a potential annual growth rate of about 10% in real dollar terms, which would increase the size of the economy to 70% of the size of the UK economy by 2050. We Indians should look towards VIET-NAM for better economy tie ups. Viet name is a friendly country of India. We should make better economy co operatin.tioward a vast improving economy. Several Indian companies has made their presence at Vietnam.ONGC has undertaken several oil drilling Projects there.MR MODI HAS STARTED VERY STRONG RELATIONSHIP WITH VIET-NAM.To curb Chinese presene At south east Asia, we should make more such efforts.
Posted on: Tue, 14 Oct 2014 07:25:21 +0000
Trending Topics
Recently Viewed Topics
© 2015