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The economy of Vietnam is a developing mixed socialist-oriented market economy. [24] It is the 35th-largest economy in the world by nominal gross domestic product (GDP) and the 26th-largest economy in the world by purchasing power parity (PPP). It is a lower-middle income country with a low cost of living.
Vietnam, a regional manufacturing hub, has seen its economy rebounding from the pandemic, with gross domestic product in the third quarter growing 13.67% from a year earlier.
History of Vietnam. Until French colonization in the middle of the 19th century, the economy of Vietnam was mainly agrarian and village-oriented. However, French colonizers deliberately developed the regions differently, designating the South for agricultural production and the North for manufacturing. Though the plan exaggerated regional ...
Vietnam, [d] [e] officially the Socialist Republic of Vietnam ( SRV ), [f] is a country at the eastern edge of mainland Southeast Asia, with an area of about 331,000 square kilometres (128,000 sq mi) and a population of over 100 million, making it the world's fifteenth-most populous country.
The International Monetary Fund expects Vietnam’s economy to growth 5.8% this year, much faster than the predicted global average of 3.2%. For 2025, the fund forecasts growth of 6.5% in Vietnam.
Vietnam's parliament is set to approve on Wednesday a top-up tax for multinationals, which will raise the effective rate of the corporate levy to 15% from January in line with a global agreement.
The socialist-oriented market economy is a multi-sectoral commodity economy regulated by the market, consisting of a mixture of private, collective and state ownership of the means of production. However, the state sector and collectively owned enterprises form the backbone of the economy. It is similar to the Chinese socialist market economy ...
Vietnam joined the International Monetary Fund (IMF) on September 21, 1956, under the policy of Article VIII. [1] Their quota contributes an estimated SDR of 1,153 millions and voting power of 0.24%. [2] As of August 2016, the current IMF Resident Representative to Vietnam is Jonathan Dunn. [3]