Vietnam

History of Vietnam (briefly)

17th c.: divided under 2 ruling families

Beg 19th c.: reunified w/ the aid of the French

**1858**: The French invaded

1945: Japanese defeated -→ Ho Chi Minh declares Vietnam as ind’t

First, France tries to reassert control, fights but looses, and then same for the US.

**1973: Paris Peace Accords**

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Vietnamese Renovation

“Doi Moi”

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Communist party-implemented free-market reforms to modernize the Vietnamese Econ (1986)

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* Transforming from centralized to market-oriented econ
* Transforming from single-sector (state-owned) to multi-sector econ
* Transforming from closed to open econ

Vietnam border countries

China

Loas

Cambodia

Land

nat resources: rare earth elements, coal, phosphates

environ worries (soil degradation, deforestation, water pollution)

People

\~102M ppl

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Median age = 31.9

Pop growth rate = 1%

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Capital city

Hanoi

Government

COMMUNIST STATE

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**Chief of State**: President Nguyen Xuan PHUC

**Head of Government**: PM Pham Minh CHINH

Econ

GDP (PPP) = US$798B

GDP per capita (PPP) = US$8,200

Services>Industry>Agri

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Key Industries: Food processing, garments, shoes

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Net Exporter

→ mostly exports clothes + shoes => To US, China, JP

→ mostly imports machinery & equipment, petroleum products => From China, SK

Partnership of which it is part of

Trans-Pacific Partnership (since 2010)

GCI ranking

Top 3 pillars, Bottom 3 pillars

67th

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Top 3: Market Size (26), ICT adoption (41), Financial System (60)

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Bottom 3: Skills (93), Business Dynamism & Institutions (89)

3 Vietnam Bus Etiquette given by Thi Be Nguyen

1. Modest dress code
2. Cultural Considerations → welfare of family + community favorved over bus + ind’l concerns.
3. The concept of “face” → person’s dignity, reputation and prestige.