In terms of Vietnams economic outlook, Mr. Tim Leelahaphan, Economist for Thailand and Vietnam at Standard Chartered Bank, said that following the recovery of growth momentum in 2022, the countrys economy will grow strongly, with GDP growth of 7.2 per cent this year and 6.7 per cent next. Professor Douglas C. Dacy of the University of Texas has endeavoured to fill this gap. Commerce [32]:28[33]:83. Three key drivers of growth for Vietnam economy in 2020: investment, export and domestic consumption Foreign direct investment in Vietnam achieved $15.67 billion in H1 2020, down 15% year on year 3. [7] In 1945, the nation's official name was changed back to "Vietnam". rate throughout the war. Approved For Release 200~1~~I~~'~'~T00875R001500200009-1 significant potential. economic support to South Vietnam, but there is likely to be an enormous The Fi~tn~rcial System South Vietnam's financial system is still relatively small and about 700,000 hectares and applications had been approval I'or an Industry In addition, the expansion of the armed forces was accompanied by In the second half, the world economy is forecast to bottom out and begin to recover, creating momentum for production and growth. 4. 5 Not surprisingly, that this fact is significant in the economy: south Vietnam growth engine, and boasts the lower unemployment and the higher average wage. development of these resources for the export market. CONFIDENTIAL per day). published on North Vietnam.l For easy comparison, some basic economic Population The ruling elite of South Vietnam spoke French. Labor Force, 1972 7.0 8. 1960 61 62 83 84 65 66 67 68 89 70 71 72 The difficulties for both Vietnams economy and the global economy are expected to linger in the first half of the year, but the second half should be much brighter, analysts told the Global Economic and Financial Outlook Update 2023: Implications for Vietnam seminar held by the Ministry of Foreign Affairs (MoFA) and Standard Chartered greatly increased urban population lead to be supported largely through Nai and Mekong River Deltas. Intelligence Handbook The government a flow of military dependents to the cities. years of 1965-68, while industrial output continued to expand until 1968, Currently, it is a mix between this state-planned economy and a market economy, which is controlled by supply and demand. t The end of the Vietnam war, marked by the fall of Saigon in 1975, precipitated the mass Indochinese refugee crisis, which saw more than 2 million people flee the region, often on unseaworthy boats. 1971 9G.I war years. uncertainty resulting from the offensive. While the US threatened to cut aid unless land reform and other changes were made, Dim correctly assessed that the US was bluffing. 6. improved by recent reforms. land area, as shown in Figure 4, also have resulted in a decline in coastal shipping since 1969. In spite of this, a 1961 US intelligence estimate reported that "one-half of the entire rural region south and southwest of Saigon, as well as some areas to the north, are under considerable Communist control. Exports were nearly wiped out, and dependence on imports increased In 2022, Vietnams economy grew by eight per cent. ?For crop your ondlnp !n your shown. Approved For Release 200~~~1~~~5T00875R001500200009-1 as shown in Table 1. iron ~ iaential 301 Starting in 1969, }towcver, i-nprovements in security, adoption of The International Monetary Fund (IMF) predicts Vietnam's economy will grow 7.2% in 2022, making it the strongest in ASEAN. The Embassy of the Republic of Vietnam in Washington donated 527 reels of South Vietnamese-produced film to the Library of Congress during the embassy's closure following the Fall of Saigon, which are in the Library to this day.[47]. More u ploited commercially are limestone, silica 6inh orn in instances where data were unavailable or incomplete. of the growth of government services and construction associated with This document contains information affecting the national For the modern country, see, Administrative territory of the Republic of Vietnam in Southeast Asia according to the, Hammer, Ellen J. North Vietnam launched a conventional invasion of South Vietnam in late March 1972 which was only finally repulsed by October with massive US air support. tially. NONCULTIVATED AREAS 426 Exports ~ '-"" """~ Date Impossible fo Doformine 235 out of the Delta. presence have been ltcld by women, many of whom have again dropped out The largest industries here are services which make up 49.75% of the GDP, industry which makes up 33.25%, and agriculture which makes up 17% of GDP. Page 134.2 Vietnam Inflation. Land Use eanu patterns have changed because of the war. extent by the removal of some of the portable piers and other structures By bringing the war to South Vietnam's cities, however, and by demonstrating the continued strength of communist forces, it marked a turning point in US support for the government in South Vietnam. [21] One consequence of the inflation was the South Vietnamese government had increasing difficulty in paying its soldiers and imposed restrictions on fuel and munition usage. Military personnel and Notably, the Hu Pht n shootings of 8 May 1963 led to the Buddhist crisis, provoking widespread protests and civil resistance. Private sector Its sovereignty was recognized by the United States and 87 other nations, though it failed to gain admission into the United Nations as a result of a Soviet veto in 1957. waterways, 80% of which are located in the Mekong Delta. enemy offensive and bad weather. Security conditions have 35. 230 PAVN forces also attacked south and from sanctuaries in Laos and Cambodia capturing Hu and Da Nang and advanced southwards. imports without severely depressing per capita private consumption. General Dng Vn Minh became president, but he was ousted in January 1964 by General Nguyn Khnh. incrcascd funds and more vigorous leadership, development lending institu- Economy International Cooperation. Fleur. 1 15.5 C+rJNI~ IllI;N'.L'~~~~ China seized control of the Paracels in 1974 after the South Vietnamese navy attempted an assault on PRC-claimed islands. CULTIVATED AREAS Iiccr Former emperor Bo i accepted the position of chief of state (quc trng). The wide fluctuations in rice availability indicated by Figure 6 arc largely the result of sizable Approved For Release 2000/09/14 :CIA-RDP85T00875R001500200009-1 Vietnam works under a socialist-oriented market economy, which means that the government is directly involved in economic development and decision-making. March 1970 of a r?udical land reform program to give tenant f,u?mcrs rind Note: Comments and ueries re ardin this publication are welcomed. WARNING Analysts emphasized that Vietnam needs to promote green trade and comprehensively support sustainability goals in the context of accelerating commitments to promote digital and green transformation in association with environmental criteria. Bank of Vietnam (the central bank), several commercial banks (the largest of Confidential 1,134.2 Table 3 presents output from the most important branches of industry in The oil price shock of October 1973 caused significant damage to the South Vietnamese economy. [18]:14, The North Vietnamese Communist Party approved a "people's war" on the South at a session in January 1959 and this decision was confirmed by the Politburo in March. In accordance with the Paris Peace Accords signed on 27 January 1973, US military forces withdrew from South Vietnam at the end of March 1973 while PAVN forces in the South were permitted to remain in place. 58 7 G.I .~ ,./ The remainder consists mainly of paper and paper Z6 60 76 Kflomelore ", sfn error: no target: CITEREFLafont2007 (. Government Finance 16 As a result, a larger share of the 14,800 tons and Da Nang's to 12,250 tons, and new facilities had been built Iligh- Metrlt~ 7brrs ranges in width from about 40 miles in the north to 420 Since 1990, Vietnam has experienced strong economic growth, with GDP per capita growth making Vietnam the fastest growing country in the world. Vietnam is a densely-populated developing country that has been transitioning from the rigidities of a centrally-planned economy since 1986. 285.8 Road ? 5. tially valuable resources as well. In 1955, Prime Minister Ng nh Dim held a referendum to decide whether the State of Vietnam would remain a monarchy or become a republic. Most resources arc devoted to and forestry combine to make up about 15% of the total value of Production, Exports, and Imports of Milled Rice 13.4 3. 21 WebBy mid-1974, the South Vietnamese economy was in a shambles, burdened by massive unemployment, terrible inflation (increases in the price of goods and services), and widespread corruption. a client state of the United States, supported by American military and Since the war began, more a densely populated flat plan: consisting of the Dong two-thirds of the country consists of sparsely popu- 20 assistance. were interdicted in the northern part of the country. the increased amount of double-cropping with both rice and vegetables. Administrative Divisions 92.3 at 2,000 tons per day. However, South Vietnamese Premier Ng nh Dim, who preferred American sponsorship to French, rejected the agreement. quantities each year (see Figure 6). Average inflation is projected to rise this year from last years average but still remain below the governments 4.0% target. Despite successes in politics, economics and social change in the first 5 years, Dim quickly became a dictatorial leader. Tltis slowed the Ycn 501031 2-73 In 2022, Vietnams economy grew by eight per cent. [36] During the same period, rice output increased by 203 percent and the number of students in university increased from 2,000 to 90,000. South Vietnam's long coastline and good Harbors in the northern As a consequence, Thiu ordered a withdrawal of key army units from the Central Highlands, which exacerbated an already perilous military situation and undermined the confidence of the ARVN soldiers in their leadership. 5,715 37 Route 1 along the coast. South Vietnamese economy. increases ranging from 30% to 55% during 1965-70, consumer prices rose SOO,000 farm I'ar~tilics. Water transport An even larger, armored invasion from the North commenced during the Easter Offensive following US ground-forces withdrawal, and had nearly overrun some major northern cities until beaten back. The retreat became a rout exacerbated by poor planning and conflicting orders from Thiu. Tltuan Coal has fuelled Vietnams recent economic development. Soft drinks 11. Therefore, Vietnamese enterprises need to take appropriate preparatory steps to stay abreast of trends, such as renovating their thinking, changing management methods, and adopting green export strategies. Ninh [40] This resulted in increasing nationalism and support for independence among the Cham and other indigenous peoples. His American advisors had recommended a more modest winning margin of "60 to 70 percent". This 108.4 The northern third of Vietnam (then the colony (thuc a) of Tonkin (Bc K) was under a French resident general (thng s). Thiu resigned on 21 April 1975, and fled to Taiwan. Tkvusrrud Mclrlr Tvns The merchant fleet of South Vietnam is~ small, consisting of six Under pressure from the US, they held elections for president and the legislature in 1967. 10. 1969 Population 32 4 Average inflation is projected to rise this year from last years average but still remain below the governments 4.0% target. 144.' 1. data for both countries are presented on the last page of this handbook. 289 Decreases in cultivated area and dislocation of the farm labor force new skills and a fairly elaborate infrastructure in the form of ports, airfields, Improved security in the past three years, however, has ceipt by an unauthorized person is prohibited by law. What Type Of Government Does Vietnam Have? Approved For Release 2000/09/14 ;CIA-~pP 008758001500200009-1 "Hcalduel. 33 A 1955 referendum on the state's future form of government was highly contested and resulted in the deposal of Bo i by Prime Minister Ng nh Dim, who proclaimed himself president of the new republic on 26 October 1955. Approved For Release 2000~~~F~i1~~~00875R001500200009-1 Most of the northern ER H 73-1 Persons Vietnams medium-term outlook remains sound, and it will continue to be an important link in global supply chains and a destination of choice for many businesses and investors. [35], The offices appointed representative and assistant representative of the central government were created for the region of Trung phn, the main representative had an office in Bun Ma Thut, while the assistant had an office in Hu. Approved For Release 2000/09/14 :CIA-RDP85T00875R001500200009-1 Vietnam is playing an increasingly important role in international trade and global supply chains. Many of the evacuees were taken directly by helicopter to multiple aircraft carriers waiting off the coast. Agricultural production declined during the peak war 28 Moreover, most of South Vietnam's productive facilities came Compared with annual Transport ~tion Other countries have shown a growing interest in providing civilian government employment, which I~as roughly doubled since 1964. Population and Labor Force Directora?e of Intelligence 0.3 During World War II, Indochina was administered by Vichy France and occupied by Japan in September 1940. [26]:273. Production Vietnam's economy rebounds from COVID-19 Delta wave. forces. employers, landlords, friends, and relatives) still provide a major share After two clashes that left 55 South Vietnamese soldiers dead, President Thiu announced on 4 January 1974 that the war had restarted and that the Paris Peace Accord was no longer in effect. 100 immature, but its operations and efficiency have bec:~ much enlarged and 18. Throughout this period, the level of US aid and political support increased. The economy of Vietnam is mainly reliant on foreign direct investments in order to promote growth. The largest industries here are services which make up 49.75% of the GDP, industry which makes up 33.25%, and agriculture which makes up 17% of GDP. Other significant industries in Vietnam include: fishing, timber, mining, banking, and finance. [41][42], The majority of the population identified as Buddhists. a. for crop year ending 31 May of years shown. ,.~ Tree crops, chiefly rubber carriers, but the increased ;use made of the road network is reflected in truck The South China Sea is once again becoming a hotspot of regional as well as international conflicts after a short hiatus that may have an adverse impact for Indias burgeoning trade through the region. 1. and Vegetation The South Vietnamese unsuccessfully attempted a defence and counterattack but had few reserve forces, as well as a shortage of spare parts and ammunition. 5 --~~~~- Military rogion boundary Other names of this state were commonly used during its existence such as Free Vietnam and the Government of Viet Nam (GVN). tau 125.7 (,4.1 Forestry and fishing yicld rice is now grown oft about one-fourth of the riceland and has barn 50.4 Output of Selected Induvlrlnl 1'roducls The North, however, was not interested in negotiations, and its forces captured Saigon. durable goods and forced production cut)xtcks in most large firms and The situation came to a head when the Special Forces were sent to raid Buddhist temples across the country, leaving a death toll estimated to be in the hundreds. They Phan Khc Su was named head of state, but power remained with a junta of generals led by Khnh, which soon fell to infighting. Cultural life was strongly influenced by China until French domination in the 18th century. civil servants, who once were the top salary earners, have fallen well behind maintained a capitalist free-market economy with ties to the West. [5] After the 1954 Geneva Conference, it abandoned its claims to the northern part of the country and established its sovereignty over the southern half of Vietnam consisting of Cochinchina (Nam K) a former French colony and parts of Annam (Trung K) a former French protectorate. Prior to 120.4 South Vietnam, officially the Republic of Vietnam (Vietnamese: Vit Nam Cng ha; French: Rpublique du Vit Nam), was a country in Southeast Asia that existed from 1955 to 1975, the period when the southern portion of Vietnam was a member of the Western Bloc during part of the Cold War after the 1954 division of Vietnam. registrations, which climbed from 37,000 in 1966 to 90,000 in 1970. Itc(ined sugar industr?ics proccssi~~e imported raw materials and some local agricultural For the foreseeable future, South Vietnam will be heavily accelerated US withdrawal Although the resulting unemployment has VnEconomy khng chu trch nhim ni dung cc trang ngoi. Approved For Release 2000/09/14 :CIA-RDP85T00875R001500200009-1 202.1 Electrical production increased fourteen-fold between 1954 and 1973 while industrial output increase by an average of 6.9 percent annually. 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