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Vietnam
Vietnam is a densely-populated, developing country that in the
last 30 years has had to recover from the ravages of war, the loss
of financial support from the old Soviet Bloc, and the rigidities
of a centrally planned economy. GDP growth averaged 6.8% per year
from 1997 to 2004, and growth hit 8% in 2005 and 7.8% in 2006.
Since 2001, Vietnamese authorities have reaffirmed their commitment
to economic liberalisation and international integration. They
have moved to implement the structural reforms needed to modernise
the economy and to produce more competitive, export-driven industries.
Agriculture’s share of economic output has shrunk from about
25% in 2000 to 20% in 2006. Deep poverty, defined as a percent
of the population living under $1 per day, has declined significantly
and is now smaller than that of China, India and the Philippines.
Vietnam is working to create jobs to meet the challenge of a labour
force that is growing by more than one million people every year.
Vietnamese authorities have tightened monetary and fiscal policies
to stem high inflation and are targeting an economic growth rate
of 7.5-8% during the next five years.
Location Southeastern Asia,
bordering the Gulf of Thailand, Gulf of Tonkin, and South China
Sea, alongside China, Laos, and Cambodia
Languages Vietnamese (official), English (as a second language)
Religions Buddhist 9.3%, Catholic 6.7%, other 3.2%, none 80.8% (1999
census)
Natural Resources phosphates, coal, manganese, bauxite, chromate,
forests, hydropower
Population 85,262,356 (July 2007 estimated)
Land Area 325,360 sq km
(Source: CIA World Factbook, www.cia.gov) |
