Brainscape's Knowledge GenomeTM


Top Flashcards (Certified)
All Flashcards

Vietnam Case Study > Vietnam > Flashcards

Vietnam Flashcards

1
Q

What classification is Vietnam given in terms of its economy as of 2019?

A

Middle income country in the high human development group

Vietnam has shown extensive economic growth and development over the past 35 years.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What major economic reforms did Vietnam undergo since 1986?

A

Đổi Mới reforms

These reforms transitioned Vietnam from a centrally planned economy to a socialist-oriented market economy.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What are the three key areas of the Đổi Mới reforms?

A
  • Agriculture and Land policies
  • State Sector reforms
  • Investment and Trade policies
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What was the average annual economic growth rate in Vietnam from 1996 to 2000?

A

7% per annum

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What was Vietnam’s GDP growth rate in 2022?

A

8.02%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What is the significance of the ‘Export-led growth Strategy’ for Vietnam?

A

It emphasizes integration with the global economy

This strategy has been pivotal in increasing Vietnam’s exports and attracting foreign investments.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

When did Vietnam join the WTO?

A

2007

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

How many Free Trade Agreements (FTAs) does Vietnam have in effect as of 2024?

A

18 FTAs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What was the share of agriculture in Vietnam’s GDP in 2023?

A

11.96%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What was the share of manufacturing in Vietnam’s GDP in 2023?

A

23.88%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What was the Human Development Index (HDI) of Vietnam in 2022?

A

0.726

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

By how much did Vietnam’s life expectancy increase from 1990 to 2023?

A

4.6 years

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What was the poverty rate in Vietnam in 2024?

A

3.6% (US$/day PPP)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

How much did GDP per capita increase between 2002 and 2022?

A

4.23 times

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What was Vietnam’s Gini coefficient in 2022?

A

36.1

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What was the unemployment rate in Vietnam in 2023?

A

2.3%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

What was the inflation rate in Vietnam in January 2024?

A

3.37%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

What is the projected inflation target for Vietnam in 2024?

A

4% - 4.5%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

What was the trade surplus of Vietnam in 2023?

A

US$28 billion

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

What were the main export destinations for Vietnam in 2024?

A
  • US 19%
  • China 16%
  • Japan 8%
  • South Korea 7%
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

What is the primary source of FDI in Vietnam as of 2022?

A
  • Singapore
  • South Korea
  • Japan
  • China
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

What percentage of GDP did gross domestic savings reach in 2023?

A

36.65%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

What impact has COVID-19 had on Vietnam’s unemployment rate?

A

Increased to a record high of 3.7% in 2021

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

What is the current trend in Vietnam’s external debt position?

A

Increased from 29.8% of GDP in 2008 to 32.7% in 2023

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
What role does the Vietnamese government play in encouraging economic growth?
Through the 10-year Social Economic Development Strategy (SEDS) and the five-year Socio-Economic Development Plan
26
What is the expected years of schooling in Vietnam as of 2022?
15.5 years
27
Fill in the blank: Vietnam's GNI per capita changed by about ______% between 1990 and 2023.
425.5%
28
True or False: Vietnam's manufacturing sector contributed 24% to GDP in 2023.
True
29
What is the main goal of Vietnam's integration with other countries?
To increase economic growth ## Footnote This is part of the broader concept of globalisation.
30
What are the two main strategic documents guiding Vietnam's economic growth?
10-year Social Economic Development Strategy (SEDS) and five-year Socio-Economic Development Plan (SEDP)
31
What is Vietnam's economic growth target for the period 2021-2025?
Average real GDP growth rate of 6.5-7%
32
What is the target GDP per capita for Vietnam by 2025?
US$4700-5000
33
What was the GDP per capita in Vietnam in 2020?
US$2750
34
What is one of the social targets for Vietnam by 2025?
Average life expectancy to be about 74.5 years
35
What significant economic reform policy was introduced in Vietnam in 1986?
Đổi Mới policy
36
What are the three main pillars of the Đổi Mới policy?
* Agriculture and Land policies * State Sector reforms * Investment and Trade policies
37
What was the impact of the agricultural reforms initiated in 1988?
Privatization of the agricultural sector and transformation of cooperatives into household enterprises
38
What percentage of agricultural production was accounted for by state-owned enterprises in 2023?
3%
39
What key task was approved by the Ministry of Agriculture and Rural Development in 2020?
Implementing the Paris Agreement on Climate Change
40
What is the unemployment rate target in urban areas for Vietnam by 2025?
Below 4%
41
What percentage of the population is targeted to have health insurance by 2025?
95%
42
Fill in the blank: The Vietnamese government plans to divest ______ state-owned enterprises between 2022-2025.
141
43
What was the ratio of two-way trade to GDP in Vietnam in 2019?
210%
44
What significant economic event affected Vietnam in 1997?
Asian Financial Crisis
45
True or False: Vietnam has fully privatized its state-owned enterprises.
False
46
What is the expected percentage of trained laborers in Vietnam by 2025?
70%
47
What is the contribution of the agricultural sector to Vietnam's GDP as of 2023?
Approx. 12%
48
What is the main focus of Vietnam's investment and trade liberalization policies?
Encouraging rapid development of the industrial sector and FDI
49
What are the expected effects of Vietnam's WTO membership?
* Rapid expansion in trade * Increased foreign investments * Economic growth averaging 6.9% from 1996 - 2022
50
What does the term 'Equitization' refer to in Vietnam's economic context?
Conversion of State-owned enterprises into companies with capital divided into shares
51
What is the target urbanization rate for Vietnam by 2025?
45%
52
What is the aim of Vietnam's Land Law regarding land-use rights?
Entitle farmers to land-use rights for between 20 to 50 years
53
What is the contribution of the private sector to Vietnam's GDP from 2011-2020?
43%
54
What is the expected role of SOEs in Vietnam's economy post-2025?
Still considered crucial to maintain socialist tendencies
55
What are special economic zones and export processing zones in Vietnam aimed at?
Encouraging rapid development of the industrial sector and FDI
56
What is a significant challenge faced by the agricultural sector in Vietnam?
Small size of most farms limiting economies of scale
57
What has been a major negative effect of Vietnam's increased global integration?
Increased exposure to regional and international business cycles
58
What reforms does Vietnam undertake to attract FDI?
Rewriting investment and trade laws ## Footnote These reforms are aimed at improving the business environment for foreign investors.
59
What classification does Vietnam hold under WTO?
Developing country ## Footnote Vietnam is one of the 164 members of the WTO.
60
What is the Cairns Group of Fair Trading Nations?
A group that seeks to reduce protection on agricultural products during WTO talks ## Footnote Vietnam is a member of this group.
61
What special rights do developing countries receive under WTO membership?
Special and differential treatment provisions ## Footnote These include longer time periods for implementing agreements and commitments.
62
What positive effects have been observed since Vietnam joined the WTO?
Surge of foreign investment, improved legal systems, better international relations ## Footnote These changes have made Vietnam more attractive to foreign investors.
63
What dispute cases has Vietnam been involved in under WTO?
Three cases as a complainant ## Footnote Notable cases include anti-dumping measures on frozen shrimp by the US.
64
True or False: Vietnam's anti-dumping case against the US in 2012 was successful.
False ## Footnote The case was unsuccessful.
65
What was the focus of the Bali Round agreement in December 2013?
Trade facilitation, agriculture & cotton, development issues ## Footnote This was the first successful multilateral agreement in WTO history.
66
What does the trade facilitation aspect of the Bali Round aim to do?
Cut red tape and streamline customs procedures ## Footnote This aims to ease the movement of goods through national frontiers.
67
What is Vietnam's strategy regarding international free trade agreements?
Use FTAs to drive exports and attract investment ## Footnote Vietnam has 15 FTAs in effect, 3 under negotiation, and 7 in discussion.
68
Which are some of the significant FTAs signed by Vietnam?
* ASEAN * AANZFTA * CPTPP * EU-Vietnam FTA (EVFTA) * RCEP * UKVFTA ## Footnote These agreements aim to enhance Vietnam's trade and economic growth.
69
What is the significance of the Regional Comprehensive Economic Partnership (RCEP) for Vietnam?
Doubles market size and allows firms to benefit from common rules of origin ## Footnote RCEP is expected to enhance Vietnam's integration into the global supply chain.
70
What major benefits did the UK-Vietnam Free Trade Agreement (UKVFTA) bring?
Significantly reduced tariffs on exports of clothing, seafood, and electronics ## Footnote This agreement commenced in 2021.
71
What percentage of customs duties does the EU-Vietnam FTA (EVFTA) eliminate?
99% ## Footnote This agreement aims to enhance trade relations and economic growth.
72
What is the forecasted impact of EVFTA on Vietnam's GDP by 2025?
Increase by 4.6% ## Footnote It is also expected to increase exports to the EU by 43%.
73
What was the total trade between the EU and Vietnam in 2023?
€64.2 billion ## Footnote This makes Vietnam the EU's largest trading partner in ASEAN.
74
What is the expected impact of CPTPP on Vietnam's GDP by 2035?
Increase by 1.3 percentage points ## Footnote This agreement aims to provide Vietnam with greater access to large consumer markets.
75
What challenges do developing countries face in WTO dispute settlement?
Lack of specialized human resources, economic harm during disputes ## Footnote These factors often hinder their ability to defend complaints.
76
What has been a significant trend in Vietnam's foreign direct investment (FDI) since joining the WTO?
Emerging as a key manufacturing hub in ASEAN ## Footnote FDI into Vietnam reached over $114 billion in the first three years of WTO membership.
77
What is the China +1 strategy?
Diversifying manufacturing from a China-only model ## Footnote This strategy has been driven by geopolitical tensions and supply chain disruptions.
78
What role does FDI play in Vietnam's economic growth?
Increases employment, infrastructure development, and competitive labor costs ## Footnote FDI has significantly contributed to various sectors including textiles and electronics.
79
What percentage of Vietnam's total trade volume is accounted for by FDI?
64.4% in processing and manufacturing ## Footnote This highlights the importance of FDI in Vietnam's economy.
80
What are some negative effects of increased FDI and trade agreements for Vietnam?
* Exposure to global market volatility * Increased foreign ownership * Environmental exploitation * Aggressive competition in local markets ## Footnote These issues pose challenges to local businesses and the economy.
81
What is the estimated export value of Vietnam's textiles industry in 2022?
US$45 billion
82
Which countries are considered major regional rivals to Vietnam in various industries?
* Indonesia * Electronics * Automotive * Shipbuilding * Food processing * Steel * Petrochemicals * Software
83
What impact has the transfer of technology had on Vietnamese manufacturing?
Boosted labour productivity and expanded export capacity
84
What percentage of Vietnam's total exports were accounted for by foreign-owned businesses in 2019?
68%
85
How has Vietnam's FDI flows changed from 2008-2012 to 2018-2022?
Doubled from an annual average of USD 8 billion to USD 16 billion
86
True or False: In 2020, Vietnam ranked 70 out of 190 economies in the Ease of Doing Business rankings.
True
87
What are Industrial Economic Zones in Vietnam designed for?
Producing industrial goods and services
88
As of 2024, how many industrial parks are set up in Vietnam?
620
89
What major investment has Samsung made in Vietnam?
US$22.4 billion
90
What percentage of Vietnam's total exports did Samsung account for in 2023?
16%
91
Fill in the blank: Vietnam is the second largest supplier of TCF to _______.
US, Japan, and South Korea
92
What is the standard corporate income tax rate in Vietnam?
20%
93
What incentives does Vietnam offer to new hi-tech companies regarding corporate tax?
10% for 15 years
94
What is the target infrastructure spending percentage of Vietnam's GDP?
6%
95
What is the aim of Vietnam's 2030 master plan for transport infrastructure?
Construct 5,000 km of expressways and enhance transport connections
96
What major issue affects Vietnam's road quality?
Only 20% of roads are paved with medium to low-quality materials
97
What was one major consequence of Vietnam's anti-corruption crackdown initiated in 2016?
Resignations of senior government leaders
98
What is the main strategy for Vietnam's economic development?
10-year Social Economic Development Strategy (SEDS)
99
What significant commitment has Vietnam made regarding greenhouse gas emissions?
Achieving net-zero by 2050
100
What was the poverty rate in Vietnam in 2008?
14.5%
101
What has been the trend in Vietnam's primary school net enrolment rate by 2017?
99.0%
102
What was Vietnam's rank in the Transparency International’s Corruption Perceptions Index in 2023?
83rd out of 180 countries
103
Fill in the blank: The proportion of households having access to safe water reached _______ in 2016.
93.4%
104
What is the status of forest coverage in Vietnam as of 2020?
44% of total land
105
What sustainable development achievements were made in Vietnam from 2011 to 2020?
Inclusion of sustainable development principles into socio-economic development strategies and plans ## Footnote Achievements include plans for 2006-2010 and 2011-2015.
106
What was Vietnam's forest coverage percentage in 2020?
44% of total land ## Footnote Increased from 39.5% in 2010.
107
What percentage of households in Vietnam had access to modern energy in 2020?
More than 96% ## Footnote All households are connected to the electricity grid.
108
What was Vietnam's contribution to global greenhouse gas emissions in 2004?
0.3% of global emissions ## Footnote CO2 emissions per capita increased four times from 1990 to 2008.
109
What was the reduction in energy use per $1,000 GDP (PPP) from 1990 to 2008?
From 407 to 267 kilograms of oil equivalent ## Footnote Indicates improved energy efficiency.
110
What percentage of households had access to safe drinking water in Vietnam in 2011?
92% ## Footnote Increased from 78.7% in 2000.
111
What was the increase in access to sanitary latrines from 2000 to 2011?
From 44.1% to 78% of all households ## Footnote For rural households, the increase was from 32.5% to 71.4%.
112
When did the Asian Development Bank resume operations in Vietnam?
1993 ## Footnote ADB supports projects for economic and development impact.
113
How much assistance did the ADB provide to Vietnam in 2022?
$17.7 billion ## Footnote Up from $13.91 billion in 2014.
114
What sectors received the largest share of ADB lending?
* Transport and communications (32.3%) * Energy (17.6%) * Agriculture and natural resources (13.1%) ## Footnote Indicates sectors prioritized for development.
115
What was the projected number of international visitors to Vietnam annually by 2024?
17.5 million ## Footnote Represents a 39.5% increase from 2023.
116
What percentage of GDP was contributed by tourism in Vietnam in 2024?
21% ## Footnote Increased from 5.2% of GDP in 2023.
117
What was the increase in the minimum wage in Vietnam on July 1, 2024?
30% increase in basic monthly salary ## Footnote From VND 1.8 million to VND 2.34 million.
118
What was the basic minimum wage range in Vietnam after the 2024 increase?
From VND 3,450,000 ($135 USD) to VND 4,960,000 ($195 USD) ## Footnote Reflects regional development levels.
119
What percentage of the national budget has Vietnam allocated to education since 2008?
20% ## Footnote Indicates strong government commitment to education.
120
What was Vietnam's ranking in the 2020 Environmental Performance Index (EPI)?
141 out of 180 ## Footnote Low ranking due to climate change and air quality issues.
121
What commitment did Vietnam make at COP26 regarding carbon emissions?
Achieve net zero carbon emissions by 2050 ## Footnote Also pledged to phase out coal power by the 2040s.
122
What is the main cause of air pollution in Vietnam's major cities?
Industrial emissions and transportation growth ## Footnote Contributes to severe health issues.
123
What was the impact of COVID-19 on Vietnam's tourism sector?
Tourism recovered to 97.6% of pre-COVID levels in 2024 ## Footnote Reflects gradual recovery post-pandemic.
124
What is the projected growth rate of jobs supported by Vietnam's travel and tourism sector?
6% growth to reach 5.96 million jobs ## Footnote Accounts for one in nine jobs across the country.
125
What environmental issue is linked to Vietnam's textile industry?
Discharge of industrial toxins and solid waste ## Footnote Significant contributor to pollution.
126
What is the target for Vietnam's coal power capacity by 2030?
40 GW ## Footnote The plan includes raising the capacity by an additional 3 GW while reducing wind power capacity by 6 GW.
127
When was the environmental tax introduced in Vietnam?
1 January 2012 ## Footnote It was established under the Law on Environmental Protection Tax 2010.
128
What products are subject to Vietnam's environmental protection tax?
* Petroleum products * Coal * HCFC liquids * Plastic bags * Pesticides and herbicides ## Footnote The effectiveness of this tax was reduced by a 50% cut in 2022 due to rising fuel prices and inflation.
129
What significant amendments were introduced in the New Law on Environment 2022?
* Emissions trading system * Carbon tax * Extended producer responsibility through recycling ## Footnote This law aims to harmonize Vietnam's environmental laws with international standards.
130
What does the Law of Fisheries in Vietnam aim to achieve?
Sustainable fishing ## Footnote It includes restrictions such as closed areas, seasonal closures, and assessments of fisheries resources.
131
What consequence did Vietnam face in October 2017 regarding fishing practices?
Received a yellow card from the European Commission ## Footnote This was due to illegal, unreported, and unregulated fishing activities.
132
What was Vietnam's GDP growth rate forecast for 2023?
6.1% ## Footnote This follows a contraction in GDP during the first wave of COVID-19.
133
What was the urban unemployment rate in Vietnam in the second quarter of 2020?
4.46% ## Footnote This was the highest unemployment rate in 10 years.
134
What was the impact of COVID-19 on Vietnam's GDP in 2021?
Vietnam recorded its first-ever negative GDP of -2.1% ## Footnote The services sector was most affected, with employment falling by 11.7%.
135
What measures did the Vietnamese government implement in response to COVID-19?
* Closed borders early * Social isolation measures * Prompt contact tracing * Fiscal stimulus packages ## Footnote These measures were aimed at both health and economic recovery.
136
What is the EU-Vietnam FTA and when did it commence?
It commenced in August 2020 and eliminates 99% of customs duties ## Footnote It is forecasted to increase Vietnam’s GDP by 4.6% and exports to the EU by 43% by 2025.
137
What is the impact of the RCEP agreement on Vietnam?
Reduces tariffs and simplifies trade rules ## Footnote It benefits Vietnam's exports in IT, footwear, agriculture, automobiles, and telecommunications.
138
What challenges does Vietnam face regarding labor quality and wages?
Risk of falling into a middle-income trap ## Footnote The low wages may lead to increased relative poverty despite attracting foreign investment.
139
What percentage of the bottom 40% of the population in Vietnam has seen income growth since 1993?
9% per year ## Footnote This is one of the fastest rates of improvement in welfare globally.
140
What issues did COVID-19 create regarding education in Vietnam?
Digital divide among ethnic minority children and lack of access to education resources ## Footnote This affected learning opportunities during school closures.
141
What was the fiscal stimulus package amount for Vietnam's COVID-19 recovery?
US $12.8 billion ## Footnote This included credit aid and financial support for vulnerable populations.
142
What is the significance of the new labor code introduced in January 2021?
Aligns with international labor standards ## Footnote It aims to improve workers’ rights and compliance with labor rules.
143
What is an example of a strategy used by Vietnam to promote economic development?
Borrowing funds from the World Bank for specific infrastructure or programs targeting improved development outcomes ## Footnote Example: World Bank provided US$70 million for the Primary Education Project in 1993.
144
How much did the World Bank provide for the Primary Education Project in 1993?
US$70 million
145
Where was the money from the World Bank used in Vietnam?
Schools and education resources in five rural provinces
146
What was the effect of the Primary Education Project on the enrolment rate?
Increased from 86% in 1993 to 95% by 2002
147
How did the Primary Education Project contribute to Vietnam's educational outcomes?
Contributed to improvement in educational outcomes and HDI increasing to 0.704 by 2020
148
What milestone did Vietnam achieve related to youth literacy rates by 2009?
Literacy rate of people aged 15-24 years was 97%
149
What is the directive term used for discussing the effects of globalization on economic growth?
Discuss
150
What is one effect of globalization on Vietnam's economy?
Increased participation in bilateral and regional free trade agreements
151
How many FTAs are currently in effect for Vietnam?
13 FTAs
152
What was the percentage of Vietnam's exports to GDP in the 1990s?
26.4% GDP
153
What was the percentage of Vietnam's exports to GDP in 2019?
105% GDP
154
What trade agreement did Vietnam negotiate with the EU that commenced mid-2020?
EVFTA
155
What percentage of customs duties does the EVFTA eliminate?
99%
156
What is the forecasted increase in exports to the EU by 2025 due to the EVFTA?
43%
157
What impact did globalization have on Vietnam's economic growth?
Boosted the injection of X in AD = C + I + G + (X-M)
158
True or False: Vietnam's reliance on exports due to globalization increased its exposure to fluctuations in the international business cycle.
True
159
What major global event caused a severe downturn in the international business cycle affecting Vietnam?
Covid-19 Health Pandemic
160
What was the unemployment rate in Vietnam in 2020?
4.46%
161
What was the percentage drop in exports in the first half of 2020?
6.7 percent
162
What was the GDP decline in Vietnam during the first quarter of 2020?
3.8%
163
Fill in the blank: The EVFTA is expected to boost economic growth by _______.
4.6%

Vietnam Case Study (1 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions