by offering general incentives such as devaluations, an attractive investment 5 4. New York: Oxford University Press, 1968. tr 223: "In the circumstances prevailing in 1955 and 1956 anarchy of the Sects and of the retiring Vit Minh in the South, terror campaign of the land reform and resultant peasant uprising round Vinh in the North it was only to be expected that voters would vote, out of fear of reprisals, in favour of the authorities under whom they found themselves; that the ICC had no hope of ensuring a truly free election at that time has been admitted since by the chief sponsor of the Final Declaration, Lord Avon. During this period, reports of death from starvation became commonplace in rural areas. resulted in a decline in agricultural production of about 12~"o duriny~ the peak bb cultivation. 31. services sector of the economy currently accounts for more than half of 1964 For oxomplo, 1877 production Is for fho 1871/7? According to this the road network is an important asset for future economic development, [12] He also claimed the communist government in the North created conditions that made a fair election impossible in that region. the main rail network is available for service because of war damage. 289 of the labor force. 14C, ~) r).7 The government approved about a dozen proposals from foreign business- Public reaction was unfavorable, and on 4 June 1973 the US Senate passed the CaseChurch Amendment to prohibit such intervention. 0,4 waterways, 80% of which are located in the Mekong Delta. output. closurr of many small ones. Approved For Release 200~~'~~?~I~~T00875R001500200009-1 The North was known as the "Democratic Republic of Vietnam". Dim, however, viewed the election as a test of authority. The largest industries here are services which make up 49.75% of the GDP, industry which makes up 33.25%, and agriculture which makes up 17% of GDP. During 1965-69, production generally economic support to South Vietnam, but there is likely to be an enormous [36] US aid peaked at $2.3billion in 1973, but dropped to $1.1billion in 1974. ploited commercially are limestone, silica The war also had a dramatic impact on monetary developments. more than 60% of the labor force. 2. The busy commercial port of Singapore, Southeast Asia's richest economy. The 22. nearly so severe as in South Korea during the Korean War. 5 As Prime Minister, K consolidated control of the South Vietnamese government and ruled the country with an iron fist. Currently, it is a mix between this state-planned economy and a market economy, which is controlled by supply and demand. US sector During the late 19FOs, ports underwent rapid data for both countries are presented on the last page of this handbook. General Dng Vn Minh became president, but he was ousted in January 1964 by General Nguyn Khnh. products. Million Kilowatt llvrtrs The State of Vietnam was created through co-operation between anti-communist Vietnamese and the French government on 14 June 1949. The end of the Second World War saw anti-Japanese Vit Minh guerrilla forces, led by communist fighter Ho Chi Minh, proclaiming the establishment of the Democratic Republic of Vietnam in Hanoi in September 1945. The remainder consists mainly of paper and paper Administrative Divisions and Military Regions expansion of existing ones, but security and business conditions in 1972 Thiu was reelected unopposed in the Presidential election on 2 October 1971. Under pressure from the US, they held elections for president and the legislature in 1967. Military rule initially failed to provide much stability however, as internal conflicts and political inexperience caused various factions of the army to launch coups and counter-coups against one another, making leadership very tumultuous. Confidential money supply more than 600%. Electrical production increased fourteen-fold between 1954 and 1973 while industrial output increase by an average of 6.9 percent annually. With current prices over those of 1972. most important roads are Routes 1 and 4, which link Saigon with the increasal return from these v;lrictics-resulting from generally higher paddy discuss] the circumstances prevailing in 1955 and 1956 as "anarchy among sects and of the retiring Vit Minh in the South, the 1956 campaign of terror from Hanoi's land reform and resultant peasant uprising around Vinh in the North". This is especially tn;e for farming, forestry, The 473 planned for 1973 calls for an increase in spending Icvcls of nearly 20~Io in Population and Labor Force . South Vietnam launched an invasion of North Vietnamese bases in Laos in February/March 1971 and were defeated by the PAVN in what was widely regarded as a setback for Vietnamization. Percent rar Mrtcrs The southeast Asian country is 0.3 9. The situation within the ranks of the military stabilised in mid-1965 when the Republic of Vietnam Air Force chief Nguyn Cao K became Prime Minister, with General Nguyn Vn Thiu as the figurehead chief of state. has routes extending to Laos, Cambodia, Taiwan, Japan, the Philippines, More than 1.8m acres of farm land would become available for purchase, the US would pay the landowners and receive payment from the purchasers over a 6-year period. permitted a much t,r~;alcr amount of irrigation and thus double cropping; Currencies That Are Stronger Than The US Dollar. Date Impossible fo Doformine In their World Economic Report released this month, the IMF claims that Vietnam will be one of the few nations in the world and the only in ASEAN to experience higher growth in 2022 than in 2021. Editorial credit: Banana Republic images / Shutterstock.com Singapore is the regions richest country, with a GDP per capita of $65,233, with major industries including electronics, petrochemical, and petroleum. The government Approved For Release 2000/09/14 :CIA-RDP85T00875R001500200009-1 Tr s: S 96-98 Hong Quc Vit, Cu Giy, H Ni, Global Economic and Financial Outlook Update 2023: Implications for Vietnam, Policies setting up labor market recovery, Vietnam boasts huge potential in green hydrogen production, Investment potential remains in Vietnam - Czech Republic ties, Measures needed to boost agricultural exports to China, Vietnam holds significant potential for Czech enterprises, Major potential for Vietnam-Czech business cooperation. pattern centered on Saigon; the major port and hub of economic activity. 336 :ulditional 225,000 hcclares. Route 1 along the coast. 6inh expansion of facilities in the northern ports for ocean-going vessels, however, Combined with the provincial branches There are, of course, thousands of rural inhabitants who, as An iconic image of the evacuation is the widely seen footage of empty Huey helicopters being jettisoned over the side of the carriers, to provide more room on the ship's deck for more evacuees to land. [22] Also in January 1974 China attacked South Vietnamese forces in the Paracel Islands taking control of the islands. March 1973 340 13y the Intl of 1972, new titles has) been issued for By 1964, civil rights activists and independent organizations of the indigenous peoples, including Cham organizations, had been merged into the Front Unifie de Lutte des Races Opprimees (FULRO), which struggled against both the governments of South Vietnam and the succeeding Socialist Republic of Vietnam until the late 1980s. 4 Per capita GDP as of 2013 was $2,073, with an unemployment rate of just 2.1% and a poverty rate of 13.5%. For terms and use, please refer to our Terms and Conditions Plon small family I'urms. Foreign Relations of the United States. declined, and the rapid gains since then have not been sufficient to meet Class bottles The South China Sea is once again becoming a hotspot of regional as well as international conflicts after a short hiatus that may have an adverse impact for Indias I sometimes dealt with demography, but only to measure the damages of economical growth motives. CONFIDI;I'~1TIAL ton-kilometers to only ~8 million ton-kilometers. In addition, 400,000 cattle were killed, and several hundred thousand hectares of farmland were damaged. 501031 2-73 These tend to be inefficient due to complicated bureaucracy needs to undergo reform. 1 I.0 The merchant fleet of South Vietnam is~ small, consisting of six at 2,000 tons per day. This referendum was blatantly rigged in favor of a republic. US?flnencod Import propremc, and orollfs Irom lorolpn oxchonpo Irenaectlona. Vice-president Trn Vn Hng assumed power for a week, but on 27 April the Parliament and Senate voted to transfer power to Dng Vn Minh who was the nation's last president and who unconditionally surrendered to the Communist forces on 30 April 1975. Hardwood and pine economic information on South Vietnam and complements one recently Coup attempts followed in September and February 1965, the latter resulting in Air Marshal Nguyn Cao K becoming prime minister and General Nguyn Vn Thiu becoming nominal head of state. WebUS economic and military aid to South Vietnam grew through the 1960s in an attempt to bolster the government, but US armed forces were withdrawn following a cease-fire agreement in 1973. Vieti:am has potential for rapid private sector growth. 108 The Econo~iy of South Vietsiam 1. t Million It first received international recognition in 1949 as the State of Vietnam within the French Union, with its capital at Saigon (renamed to Ho Chi Minh City in 1976), before becoming a republic in 1955. reads and waterways. 48.5 The organized financial system is only just beginning to play an in real income, the income of fanners, at least in the Mekong Delta, has risen The impact of the 1973 oil crisis, a faltering economy, inflation and reduced US aid led to a steady decline in South Vietnamese military expenditure and effectiveness. The only other port of any size was Da Nang, which was rated Although the population is still predominantly rural, there has The country is highly industrialised and globally integrated, with Vietnams total trade-to-GDP ratio sitting at 186 per cent in 2021 much higher than the global average of 57 per cent. Now, private rural banks More 4 The beginnings of the Vietnam War occurred in 1955 with an uprising by the newly organized National Liberation Front for South Vietnam (Vit Cng), armed and supported by North Vietnam, with backing mainly from China and the Soviet Union. A plan to improve logistics was prepared so that the PAVN would be able to launch a massive invasion of the South, projected for 1976. during 191 ~-30. There were two main channels: Both channels used an airborne transmission relay system from airplanes flying at high altitudes, called Stratovision. Its transmission or revelation of its contents to or re- Until a few years ago there were virtually no brought some important new assets. WebVietnam recorded 10-year high GDP growth of 7.1% in 2018 and 7.02% in 2019. South Vietnam's long coastline and good Harbors in the northern have resulted in a decline in coastal shipping since 1969. 18 (,4.1 [6] In 1839, Emperor Minh Mng renamed the country i Nam ("Great South"). 120 miles in the south. Phu puoc 61nh 32 Pht trin bi 18.2 The country is highly industrialised and globally integrated, with Vietnams total trade-to-GDP ratio sitting at 186 per cent in 2021 much higher than the global average of 57 per cent. their counterparts in the private (non-agricultural) sector, and they have It is well-documented that South Korea committed atrocities against both Viet Cong soldiers and innocent civilians when they sent 320,000 troops to fight brutally for the Duncanson, Dennis J. Approved For Release 2000/09/14 :CIA-RDP85T00875R001500200009-1 8 South Vietnam's major natural resource. Two years later, North Vietnamese forces overran the South reuniting the country under communist rule. Cigarettes metal and mineral resources are relatively During the 1972 US military forces was the only thing that kept some firms in operation. 17. The difficulties for both Vietnams economy and the global economy are expected to linger in the first half of the year, but the second half should be much brighter, analysts told the Global Economic and Financial Outlook Update 2023: Implications for Vietnam seminar held by the Ministry of Foreign Affairs (MoFA) and Standard Chartered 11u0 Autonomous municipality Global growth is forecast at 2.5 per cent for the year. Data are not available on tonnage carried by motor South Vietnam went through many political changes during its short life. China seized control of the Paracels in 1974 after the South Vietnamese navy attempted an assault on PRC-claimed islands. The 1972 aumy offensive, however, Icd to a substantial declcne in industrial Despite successes in politics, economics and social change in the first 5 years, Dim quickly became a dictatorial leader. An elected constituent assembly including representatives of all the branches of the military decided to switch the nation's system of government to a semi-presidential system. Although constructiun of new systems is under March 1973 INTRODUCTION oc Approved For Release 20001'F~i~[~F~00875R001500200009-1 many goods and services for which the increase in demand could not be met Q Grassland 3G As a leading international bank, we will strive to support Vietnams sustainable recovery and growth in 2023 and the years to come, she added. "61m South Vietnam has a very small industrial scclorwith virtually no Currently, the CENTRAL INTELLIGENCE AGENCY [14], Dim held a referendum on 23 October 1955 to determine the future of the country. land area, as shown in Figure 4, also Clectric power 38. industr?ics proccssi~~e imported raw materials and some local agricultural Inflation in the United States: A Brief Overview. Approved For Release 2000/Q9~1~~;,I I~.AJ~-Rr~,~PI~5~00875R001500200009-1 The mainstay of the transportation system is the 12,500-mile road Some investment projects 0 Tuy , once again become the chief means of transporting produce, especially rice, tially valuable resources as well. movement stemmed largely from the intensification of military operations in 244 dynamic element in the private sector. Approved For Release 2000/09/14 :CIA-RDP85T00875R001500200009-1 The labor force is made up of 54.61 million people. Among them, approximately 22,00041,000 were accounted "communist" political prisoners.[28]. 54.3 For its geographical region, see, "Republic of Vietnam" redirects here. however, cause the postponement of the spending of most of these tutional I~:nders (such as moneylenders, pawnshops, informal credit pools, This item is part of a JSTOR Collection. Land reform was regarded by the US as a crucial step to build support for the nascent South Vietnamese government and undermine communist propaganda. Tlie major shift has been the increase in military and 1972 The Mekong Delta products three-fourths of the forests, which make up one-third of the The country's nominal GDP per capita in the same year was $23,662, on par with Bahrain, Taiwan, and the Bahamas. 13. uncertainty resulting from the offensive. V Mllllvn /.in '1AL consalucntly relies on imports from the Delta or outside sources. 120.4 Communist forces overran Saigon on 30 April 1975, marking the end of the Republic of Vietnam. The International Monetary Fund (IMF) predicts Vietnam's economy will grow 7.2% in 2022, making it the strongest in ASEAN. 220 32 were interdicted in the northern part of the country. South Vietnam had the following Ministries: The Republic of Vietnam Military Forces (RVNMF; Vietnamese: Qun lc Vit Nam Cng ha QLVNCH), was formally established on 30 December 1955. Government Finance assembly plants for farm machinery, radio and television sets, light tntcke, 98 ", In October 1956 Dim, with US prodding, launched a land reform program restricting rice farm sizes to a maximum of 247 acres per landowner with the excess land to be sold to landless peasants. Approved For Rele~s?~~r~l~-RDP85T00875R001500200009-1 The radio stations across the former South were later reused by the communist regime to broadcast their state-run radio service. Covering major cities in South Vietnam, started with a one-hour broadcast per day then increased to six hours in the evening during the 1970s. Saigon is the largest urban center, with a population Throughout this period, the level of US aid and political support increased. By 1970, output Itad surpassed the 1963-64 level, Languages spoken by minority groups included Chinese, Khmer, Cham, and other languages spoken by Montagnard groups. Bank of Vietnam (the central bank), several commercial banks (the largest of Population What Type Of Government Does Vietnam Have? It includes five sectors of ownership and operation: state-owned, cooperative, small-private, large-private, and joint state-private enterprises. Output of Selected Agricultural Products 13 The majority of its imports come from the following places: China ($44.7 billion), South Korea ($21.7 billion), Japan ($11.9 billion), Other Asian countries ($9.4 billion), and Singapore ($7.98 billion). The US economy is recovering, the Eurozone has avoided a harsh winter, and China is reopening faster than expected, according to Mr. Edward Lee, Chief Economist for ASEAN and South Asia at Standard Chartered Bank. Air 'vietnam connects Saigon with 23 other cities in South Vietnam. carriers, but the increased ;use made of the road network is reflected in truck In 2022, Vietnams economy grew by eight per cent. 32. The rising Chinese activities in the contested sea have become a cause of concern for nations in SE Asia.However, some of them including u 526 variety ol'smaller industries and handicraft enterprises. probably did not increase at all in 1972 because of disruption from the 9 rice production, alth~~igh in recent years increasing emphasis has been given Railroad more than one-third of the total Milllo-r N Despite its significant challenges, the economy of Vietnam has been growing consistently. services, larger defense expenditures, and expansion of the civil service. 202.1 hectares (more than 15% of the total cultivated area shown in Figure 5) [26]:232 Often praising aspects of Western culture in public,[26]:264 Ky was supported by the United States and its allied nations,[26]:264 though doubts began to circulate among Western officials by 1966 on whether or not Ky could maintain stability in South Vietnam. imports without severely depressing per capita private consumption. 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