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GDP per capita development in Vietnam. The economy of Vietnam is a developing mixed socialist-oriented market economy. [3] It is the 33rd-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 upper-middle income country with a low cost of living.
In the first quarter of 2024, Vietnam’s economy expanded 5.7% year on year. While that was faster than the 3.4% growth reported the previous quarter, it was still a lower-than-expected result ...
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 ...
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 is already a market economy," said Ted Osius, head of the U.S.-ASEAN Business Council, which backs the upgrade. "It has met key criteria such as currency convertibility and is ready for ...
Đổi Mới (IPA: [ɗo᷉i mə̌ːi]; transl. "renovation" or "innovation") is the name given to the economic reforms initiated in Vietnam in 1986 with the goal of creating a "socialist-oriented market economy". The term đổi mới itself is a general term with wide use in the Vietnamese language meaning "innovate" or "renovate".
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]
Vietnam, [e][f] officially the Socialist Republic of Vietnam, [g] 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.