Tuesday, January 06, 2009
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Vietnam Investments * Country Overview






  Country Overview  

OVERVIEW OF VIETNAM

 

The area of Vietnam is 127,243 square miles and stretches over 2,113 miles along the eastern coast of Indochina Peninsula. The country borders China, Laos, and Cambodia. The country is divided into three principal geographic areas: Bac Bo (the north), Trung Bo (the central region) and Nam Bo (the south).

 

 

HIGHLIGHTS

 

Official name:

Social Republic of Vietnam          

 

Currency:

Dong

 

Head of State:

President Nguyen Minh Triet

 

Head of Government:

Prime Minister Nguyen Tan Dung

 

Adult literacy rate:

94 percent

 

Official language:

Vietnamese

 

Religion:

Buddhism and Christian

 

GDP (2004):

US$46 billion

 

GDP growth rate (2005):

8.4%.

 

Per capita income (2005):

US$640

 

Inflation rate (2005 est.):

8.4%.

 

External debt (2005 est.):

41% of GDP

 

Natural resources:

Coal, crude oil, zinc, copper, silver, gold, manganese, iron.

 

Industry and construction

(41% of GDP, 2005):

Principal types--mining and quarrying, manufacturing, electricity, gas, water supply, cement, phosphate, and steel.

 

Services

(38.3% of GDP, 2005):

Principal types--wholesale and retail, repair of vehicles and personal goods, hotel and restaurant, transport storage, telecommunications, tourism.

 

Agriculture and forestry

(20.7% of GDP, 2005):

 

Principal products--rice, maize, sweet potato, peanut, soya bean, cotton, coffee, cashews. Cultivated land--12.2 million hectares per year. Land use--21% arable; 28% forest and woodland; 51% other.

 

TRADE 2004 

 

Exports--$26 billion
- Growth rate: 29%
- Foreign-funded sector: US$14.26 billion

Principal exports (2004): crude oil (22%), garments and textiles (17%), sea products (9%), footwear (10%), rice (4%), coffee (2%).
Principal export markets (2004): US, Japan, China, Singapore, Australia, Taiwan, Germany, UK, Korea, Netherlands

 

Imports--$24.995 billion.
- Growth rate: 23
- Foreign-funded sector: US$10.97 billion

Principal imports: machinery & spare parts (16%), oil and gas (11%), iron and steel (8%), fabrics (6%), cars (4%).
Major import partners- China, Japan, Singapore, Taiwan, South Korea, Hong Kong, and Thailand.

 

Foreign Direct Investment

723 new projects capitalized at US$2,222.15 million in 2004, up 4.6% over 2003, and additional investment of US$1.942 billion in 460 existing projects.Until now: 5,110 projects capitalized at US$45,766.26 million.

 

 

Source: Investment Trade and Promotion Center, 2005

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