assessment # 3 Asian ECONOMIES
unit: economic analysis & asian economies.
NAME STUDENT ID
SUBJECT: VIETNAM 2007
Word Requirement 3,800 =/- 5%
Word Count 3,960
Table of Content.
The following paper is on Vietnam and its business environment today and how it arrived at today’s trading conditions as a result of its history. While Vietnam is a governed by the VCP, Vietnam Communist Party & is a communist country by title, you can be excused for thinking you reading about a quasi capitalist dictatorship.
From a closed boarded war torn country in 1976 to 2005 when 65% of GDP is export merchandise. And ...view middle of the document...
Where were the soldiers on very corner, the poverty stricken, oppressed people from years of communism, why the abundance of food, electronic goods and home additions on every dwelling we passed?
My Paper is on Vietnam and how it got from war torn poverty and communism to this hive of Capitalism. The answer I found is through a planned economy of reforms called “Doi Moi” or Renewal
Vietnam is a long narrow country running North / South, on the Eastern side of the Indo China Peninsula. Vietnam boarders Cambodia, Laos to the West and China to the north. The Eastern side of the country boarders the South China Sea, almost half the countries boarder is to the sea (3,451 klms of coastline). At its narrowest part it is 35 miles wide, making it an important sea port for the land locked Laos. See Map Appendix # 1
Land Area 330,000 sq.km
Major Cities Hanoi (capital), Ho Chi Minh (formally Saigon) & Danang.
Population 83.1 Million (2005)
Labour Force 43 Million
Life Expectancy 70 Years +
Official Language Vietnamese, Latin Based Alphabet
Economic Data 2005
Currency Vietnamese Dong (VND)
GDP Growth 8.4%
Total GDP US$ 45.2 billion (2004)
GDP per capita US$553 (2004)
Major Exports Crude Oil, Coal, Tin see Table # 1, Appendix # 2
Major Exports to USA, Japan, China, Australia & Singapore.
Major Imports Automobiles, Manufacturing & Construction Equipment See table # 2, Appendix # 3
Major Imports from China, Taiwan, Singapore. Japan & Korea.
Budget Deficit 4.9%GDP
Government Structure, Vietnam is a socialist state under the leadership of the Communist Party. The Party Central Committee has 160 full time members with several dozen alternate members. The National Assembly meets twice yearly for approximately a months at a time, it elects the President of the State and the Prime Minister, the Prime Minister is responsible for the day to day running of the country.
The country is divided into 64 States and Cities under direct control of the central authority. See National Assembly Administrative Structure Appendix # 4.
Current Government, In April 2006 the National Assembly met and several agenda items ensured the momentum of reform will continue.
• The Vietnam Communist Party (VCP) enforced the policy that new full members of the Central Committee should be 55 years old or younger.
• Election to the 160 strong Central Committee was democratized ~ 120 members were nominated or stood for elections, 79 of the 160 positions were newly elected.
(Luong 2006, p171-172)
More important than the personnel change is the noticeably stronger resolve of top VCP and government leaders to make the bureaucracy more accountable and to tackle corruption and abuse of power. (Luong 2006, p-173)
Brief History – Why are the communists, socialist so capitalist.
Vietnam has been ruled by a series of dynasties, the first major dynasty...