Vietnam's economic development

VIETNAM’S ECONOMIC DEVELOPMENT

This morning, i’m going to talk about Vietnam’s economic development.

I have divided my presentation into three parts.

Firstly, I'll make a little introduction on the situation of vietnam.

Secondly, i’ll move on to the country's economic transformation.

Next, i will talk about mains sectors and finally the conclusion.

Vietnam is an Asian country of the southeast, which possesses a very long maritime facade. His surface is 335 000 km and and we count approximately 90 000 000 of the inhabitants. It’s the eighth-most-populous Asian country. Its capital city has been Hanoi since the reunification of North and South Vietnam in 1975. Vietnam is a State to unique party, managed by the Vietnamese communist Party (PCV).

The development of Vietnam knew several stages.

Political and economic reforms which launched in 1986, have transformed the country from one of the poorest in the world.

Next, during the begining of the twenty one century, Vietnam has seen a very big economic growth.         

The gross domestic product increases since 2002. Indeed, the growth is drawn by the business international and the foreign investments.

Secondly, in 2015, some sectors as the industrial production or the production of textiles enjoyed strong growth. The reforms initiated by the government have allowed development of key sectors and partial privatization of public companies.

To cope with the global financial crisis, the government has improved the business climate to encourage production and exports, and above all improve the country's social status.

Recent reforms have improved the standard of living of the inhabitants. The poverty rate rose from 58% to 14% over the last fifteen years. However, the urban unemployment rate increased and underemployment remains consistent.

It is necessary to know also that Vietnam is one of the savings of Asia the most open to the international trade. The Vietnam economic model remains still very dependent on foreign investments and on exports, in particular towards the United States, Europe, Japan and China.

Several business sectors dominate the country.

The industry is the main sector and the main cause of the growth of the country. Next , there is a farming sector which uses near half of the working population. Nowadays, the tourism and communications contribute to the economic health of the country a lot and should allow the increase of the economic situation of the country.

To conclude, we can say that the Vietnam’s economic development is growing and the economic situation becomes more and more positive. With a 6,7 % growth rate in 2015, Vietnam is currently one of the most dynamic savings of the ASEAN.

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