Vietnam - Introduction
VIETNAM
Introduction
Vietnam is a country officially known as the Socialist Republic of Vietnam found in Southeast Asia. Vietnam is bordered by Cambodia in the Southwest, China in the North, Laos in the Northwest and South China Sea in the East. The Republic of Vietnam is the 13th most populated country with a pollution of 86 million people. The capital city is Hanoi and the official language is Vietnamese.
The economy of Vietnam was largely based on agriculture with wet rice cultivation as the major crop of concentration alongside other crops like rubber, coffee, tea and cattle but the wars destroyed most of the plantations and rendered the country’s economy stagnant
Thus the effect of a series of wars and severe floods not forgetting the 1997 Asian economic crisis which took Vietnam by surprise but the government tried to change the economic situation of the country through international integration and in 2000, Vietnam had established both diplomatic and trade relations with many countries and this was a result of the country joining the World Trade Organization in 2007 after President Bill Clinton cancelled the trade embargo that had been placed against Vietnam for thirty threes (33) years on 3rd February, 1994 and this reform helped Vietnam’s economy to grow at a rate of 9% and almost 10% in 1996. The industrial sector also became strong at over 12% annually by 1997.
Significant changes were also registered by Vietnam when it started transforming to the second largest exporter of rice in 1995 and diversifying its economic sectors from just being agricultural based to both industrial, Mining, transport, technological and tourism sectors through collectivization of farms, factories and economic capital which decreased unemployment and stimulated the net export of Vietnam.
Culture of Vietnam
Vietnam culture is largely agriculture based with cultivation of rice through the ancient Bronze Age Dong Son culture which is considered as the most important the
Introduction
Vietnam is a country officially known as the Socialist Republic of Vietnam found in Southeast Asia. Vietnam is bordered by Cambodia in the Southwest, China in the North, Laos in the Northwest and South China Sea in the East. The Republic of Vietnam is the 13th most populated country with a pollution of 86 million people. The capital city is Hanoi and the official language is Vietnamese.
The economy of Vietnam was largely based on agriculture with wet rice cultivation as the major crop of concentration alongside other crops like rubber, coffee, tea and cattle but the wars destroyed most of the plantations and rendered the country’s economy stagnant
Thus the effect of a series of wars and severe floods not forgetting the 1997 Asian economic crisis which took Vietnam by surprise but the government tried to change the economic situation of the country through international integration and in 2000, Vietnam had established both diplomatic and trade relations with many countries and this was a result of the country joining the World Trade Organization in 2007 after President Bill Clinton cancelled the trade embargo that had been placed against Vietnam for thirty threes (33) years on 3rd February, 1994 and this reform helped Vietnam’s economy to grow at a rate of 9% and almost 10% in 1996. The industrial sector also became strong at over 12% annually by 1997.
Significant changes were also registered by Vietnam when it started transforming to the second largest exporter of rice in 1995 and diversifying its economic sectors from just being agricultural based to both industrial, Mining, transport, technological and tourism sectors through collectivization of farms, factories and economic capital which decreased unemployment and stimulated the net export of Vietnam.
Culture of Vietnam
Vietnam culture is largely agriculture based with cultivation of rice through the ancient Bronze Age Dong Son culture which is considered as the most important the
References: Updated on January 26, 2010 Accessed on 20th January, 2011 By Van Nguyen and Jason Folkmanis Edited on 19th November, 2009: 00:28 EST Accessed on 20th January, 2011 Available on: www.bloomberg.com/app/news Edited on 6th June, 1997 Accessed on: 21st January, 2011 Published in Vietnam Financial Review Magazine Published on Wednesday 14th April, 2010 By Editor in Chief Pham Van Huanh Accessed on: 21st January, 2011 By Dr. Le Quoc Phuong, 2009/12/08 Deputy Director at Department of Macro-economic Analysis and forecast Vietnam’s Ministry of Planning and Investment Accessed on: 21st January, 2010 Published by Central Institute for Economic Management 68 Phan Dinh Phung, Hanoi in November, 2004 Accessed on: 21st January, 2011 Available on: www.ifc.org/ 7- Vietnam’s Industrial production value By Wang Guanqun, 2010-11-03; 20:56:08 Editor English.news.cn Accessed on 21st January, 2011