Economy & Business

THE SITUATION ROOM WITH VIETNAM

 In late 2008, the Vietnamese Government announced a five-point economic stimulus package of VND 17 trillion (972 million USD) aimed at:
• promoting production and exports
• stimulating investment and consumption
• maintaining a highly flexible financial and monetary policy
• improving social protection
• creating dynamic and flexible guidance and management

On top of that,
Vietnam has set a target date of 2020 to achieve its goal to become a rich, high-tech country.


While Vietnam is largely an agrarian society with 54% of its labor force in agriculture, forestry and fisheries, these sectors accounted for only 20% of the country’s nominal GDP in 2007.
Vietnam is a lead exporter of agricultural commodities, but Industrial GDP has grown more than10% annually in the last ten years, now contributing to 42% of nominal GDP. The services sector has grown with GDP over the last few years, remaining at 38% of total GDP.


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