Business

Vietnam’s economy 39 years after national reunification

Vietnam's economy has expanded 7.8 times since the country regained national independence in 1975.
The Vietnamese economy has expanded 7.8 times since the country regainednational independence in 1975, the Government news portal reported.

The economy posted a continuous growth since 1981 and the GDP per capita increased from 86 USD in 1980s to 1,899 USD in 2013.

Vietnam shifted from centrally-planned to market-based economy and has increasingly integrated into the global community.

Investorsfrom 90 countries and territories have poured some 270 billion USD andthe disbursed volume reached 114 billion USD. The FDI sector accountsfor around 45% of Vietnam’s industrial production value and 20% GDP.

Internationalfriends have pledged to grant some 81 billion USD in officialdevelopment assistance to Vietnam and over half of the total figure hasbeen disbursed.

At present, Vietnam has set up trade relationswith around 200 countries and territories with the aggregate trade valueamounting to over 264 billion USD.

The economy, however, isfacing a number of big challenges, especially in terms of growthquality, investment efficiency, and productivity, the news portal added.-VNA
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Toy production at a Hong Kong-invested factory (Photo: VNA)

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