Vietnam is a country located in Southeastern Asia bordering the Gulf of Thailand, the Gulf of Tonkin, and the South China Sea. Neighboring countries include Cambodia, China, and Laos. The geography consists of hills and densely forested mountains in the northwest. The government system is a communist state; the chief of state is the president, and the head of government is the prime minister. Vietnam has a mixed economyA country's economic system which has both private and state... in which there is limited private freedom, but the economyThe management of money, currency and trade of a nation. The... remains highly controlled by the government. Vietnam is a member of the Asia-Pacific Economic Cooperation (APEC), the Association of Southeast Asian Nations (ASEAN), and the Trans-Pacific PartnershipA business which is owned by two or more people, all sharing... (TPP).
Vietnam is a densely populated developing country that has been transitioning from the rigidities of a centrally-planned economyThe management of money, currency and trade of a nation. The... since 1986. Agriculture’s shareAny of the equal units into which a company's capital stock ... of economic output has shrunk from about 25% in 2000 to 18% in 2014, while industry’s shareAny of the equal units into which a company's capital stock ... increased from 36% to 38% in the same period. State-owned enterprises now account for only about 40% of GDP. Vietnamese authorities have reaffirmed their commitment to economic modernization and a more open economyThe management of money, currency and trade of a nation. The.... Vietnam joined the WTO in January 2007, which has promoted more competitive, export-driven industries. Vietnam was one of 12-nations that concluded the Trans-Pacific PartnershipA business which is owned by two or more people, all sharing... free trade agreementAn agreement, usually between countries, to limit or change ... negotiations in 2015.
Vietnam is trying to reform its economyThe management of money, currency and trade of a nation. The... by restructuring public investmentMoney or capital that is invested in a business or in an acc..., state-owned enterprises, and the banking sector, although Hanoi’s progress in meeting its goals is lagging behind the proposed schedule. Vietnam’s economyThe management of money, currency and trade of a nation. The... continues to face challenges from an undercapitalized banking sector and nonperforming loans.
Important Details
- Country ISO3 : VNM
- Country Code : 704
- Income Group : Lower middle income
- Lending Category : Blend
- Region : East Asia & Pacific
- Currency Unit: Vietnamese dong
- WTO Member : Yes
- TradeThe buying and selling or exchange of goods and services. Th... organisations : AFTA, WTO, APEC, ASEAN, FAO
- world rank : 131
- Regional Ranking : 27th in the Asia–Pacific Region