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    Vietnam's Economy 2010

    Uploaded by

    Rizky Adriyantho

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    © All Rights Reserved
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    Vietnam's Economy 2010

    Uploaded by

    Rizky Adriyantho
    3 views6 pages

    Original Title

    Vietnam’s Economy 2010

    Copyright

    © © All Rights Reserved

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    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    3 views6 pages

    Vietnam's Economy 2010

    Uploaded by

    Rizky Adriyantho

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 6

    Vietnam’s economy 2010

    • Sales of many products targeted at the emerging middle class had grown
    quickly, high inflation had put pressure on lower urban residents as well
    • GDP growth was largely driven by the industrial and service sector.
    Urbanization had increased since 1986 larger prosperity gap between
    metropolitan centers and rural regions continued to widen.
    • Unemployment was at close to 5% as the economy had been able to
    absorb the close to 1.5 million new entrants coming into the labor force
    each year. Unskilled labor costs were still low but had been increasing.
    • Vietnam total trade accounted for roughly 150% od GDP. Vietnam major
    exports included oil and gas, agricultural and fishing products.
    Vietnam’s economy 2010

    • Vietnam ranked poorly on key indicators of macroeconomic policy, in


    part a function of the government prioritization of high growth.
    • Vietnam ranked poorly on key indicators policy. International rating
    agencies had downgraded Vietnam’s sovereign rating, Vietnamese
    tried to shelter their assets from inflation by buying gold and foreign
    currency.
    • Vietnam ranked below most of its regional peers on measures of the
    effectiveness of government.
    Business environment
    • Vietnam had invested heavily in its physical infrastructure, through
    efficiency of spending was low. The railway system did not meet the
    needs of the growing economy.
    • Vietnam had seven international ports plus five special ports
    dedicated to shipping coal and oil. Large investment were made into
    upgrading the capacities of these ports.
    • Electricity of Vietnam (EVN) was the dominant provider of electricity.
    • Vietnam’s financial sector remained relatively underdeveloped. Only
    about 10% had opened bank account.
    Business environment
    • Import barriers remained relatively high, inputs used for producing
    exports goods were generally exempt from the import tariffs.
    • In the equitized companies, largely smaller companies that had been
    owned by local government. Government tended to be weak with
    fragmented oversight structure across different parts od government.
    • The domestic private sector was dominated by smaller companies,
    largely serving the domestic market. The largest domestic private
    sector firms had emerged in real estate and financial service.
    Composition of the Vietnamese economy
    • Vietnam had gained significant market positions in a number cluster.
    Vietnam was the largest produce and exporter of coffee after brazil.
    The fast export growth had triggered anti-dumping duties in the U.S
    • Oil and gas production was predominantly offshore. Vietnam
    traditionally exported all crude production and imported fueland
    petrochemical products.
    • In 1976 Vietnam began exporting garments to Comecon countries
    using imported equipment and cotton fiber. After that, many east
    Asian companies established garment factories to take advantage
    exports quota and labor costs.
    Composition of the Vietnamese economy
    • Since the mid -1920s footwear had emerged as another important
    export cluster. By 2010 Vietnam has become the fourth largest
    footwear supplier globally. Nike, Adidas, Reebok are the brand
    produce in this country.
    • The Vietnam furniture cluster had reached exports of $4.0 billion in
    2010. The quality of Vietnamese woodworking was considered high
    but design skills and products diversification were limited.
    • The ministry of industry’s Vietnamese motorbike industry
    development strategy contemplated an increase in motorcycle
    production to 31 million by 2015 ( Suzuki, honda, yamaha)

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