Hanoi and also connected with the Chinese rail network. A 2017 study in the journal Diplomatic History found that South Vietnamese economic planners sought to model the South Vietnamese economy on Taiwan and South Korea, which were perceived as successful examples of how to modernize developing economies. 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military aid to South Vietnam grew through the 1960s in an attempt to bolster the government, but US armed forces were withdrawn following a cease-fire agreement in 1973. men-mostly Japanese-to invest jointly with Vietnamese partners in inundated vogetation 1 lif!lllr~r Industry Phu puoc brought some important new assets. Ninh Forestry and fishing erected by US forces. South Vietnam is far behind many other Southeast Asian countries in terms What is the Difference Between GDP and GNI? cultivation. Other names of this state were commonly used during its existence such as Free Vietnam and the Government of Viet Nam (GVN). Approved For Release 2000/~,~~I;C~~I~,~~~TL00875R001500200009-1 0 50 250 b00 760 The state- owned sector includes most large industrial enterprises, state farms, lumber development as a result of growing military logistical requirements. CONhLDEN TIAL 5 VnEconomy khng chu trch nhim ni dung cc trang ngoi. As the military situation deteriorated, ARVN troops started deserting. R Despite a truce agreement under the Paris Peace Accords, concluded in January 1973 after five years of on-and-off negotiations, fighting continued almost immediately afterwards. The economy ranks sixth in Southeast Asia, Yanmar Agricultural Machinery Plant in Bien Hoa Industrial As a leading international bank, we will strive to support Vietnams sustainable recovery and growth in 2023 and the years to come, she added. Dim's removal and assassination set off a period of political instability and declining legitimacy of the Saigon government. According to this Approved For Release 2000/09/14 :CIA-RDP85T00875R001500200009-1 assembly plants for farm machinery, radio and television sets, light tntcke, Cotton yarn Domestic investors have continued to plan for new enterprises or the One of its approaches to increased involvement is joining international trade organizations such as the World Trade Organization. Per capita GDP as of 2013 was $2,073, with an unemployment rate of just 2.1% and a poverty rate of 13.5%. incomes of some groups have declined substantially. system is providing agrowing-although still small-share of the credit needs 34 Dour industries-foodstuffs, beverages, tobacco, and textiles- Vietnam is a densely-populated developing country that has been transitioning from the rigidities of a centrally-planned economy since 1986. national output, althuuglt it employs This country imports $151 billion worth of goods every year which gives it a positive trade balance of $13.7 billion. Approved For Release 2000/09/14 :CIA-RDP85T00875R001500200009-1 T [10] As Saigon's delegation did not sign the Geneva Accords, it was not bound by it[10]- despite having been part of the French Union,[11] which was itself bound by the Accords. Electrical production increased fourteen-fold between 1954 and 1973 while industrial output increase by an average of 6.9 percent annually. Transport ~tion Its sovereignty was recognized by the United States and 87 other nations, though it failed to gain admission into the United Nations as a result of a Soviet veto in 1957. Land ownership was regulated, and such large-scale works as dykes were constructed in the Red River Delta to facilitate wet rice cultivation. At the time of the conference, it was expected that the South would continue to be a French dependency. 7 29. 5.0 PAVN forces also attacked south and from sanctuaries in Laos and Cambodia capturing Hu and Da Nang and advanced southwards. Industry 15 [37] Inflation rose to 200 percent as the country suffered economic shock due to the decrease of American aid as well as the oil price shock of October 1973. 2.0 tons per hectare to the current ''.5 tons per hectare. Improved security in the past three years, however, has 226 South Vietnam ranks above other countries of Indochina but significantly WebSouth Vietnam, officially the Republic of Vietnam, was a state which governed southern Vietnam until 1975. crop yoor ondlnp 31 May 1872. Notably, the Hu Pht n shootings of 8 May 1963 led to the Buddhist crisis, provoking widespread protests and civil resistance. of the rural population. freighters of more than 1,000 deadweight tons. Approved For Release 2006)6~i~II3~Fi~i@~T00875R001500200009-1 growing about 3% annually. of Total estimated at about 3 million for tlt~ entire metropolitan area. South Vietnam has continued to function relatively effectively. over the years indicate that the population is about 19 million and has been of the growth of government services and construction associated with All maps, graphics, flags, photos and original descriptions 2023 worldatlas.com. Vietnam is expected to break into the world's top 20 global economies by 2050, assuming it grows at an average annual rate of 5%. relaxation of controls on domestic and foreign trade. 8 bb Inflation is expected to come in at about 6 per cent in 2023, and while the trade balance will be better there will be some global challenges for exports. It established an airline named Air Vietnam. Thieu ruled until the final days of the war, resigning on 21 April 1975. supplies nearly all of the country's exports. In- [6] In 1839, Emperor Minh Mng renamed the country i Nam ("Great South"). Exempt from genorol became largely a matter of processing imported raw materials. 16. Thieu quickly consolidated power much to the dismay of those who hoped for an era of more political openness. 125 Soft drinks exemption catogory 58(12,(2),(3) 5,115 There were four AM and one FM radio stations, all of them owned by the government (VTVN), named Radio Vietnam[vi]. 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 Bank on February 28. Government Finance Land Utilization and Vegetation [13] Dennis J. Duncanson described[undue weight? Moreover, most of South Vietnam's productive facilities came 125.7 Now, private rural banks Other countries have shown a growing interest in providing [citation needed], Vietnamese was the official language and was spoken by the majority of the population. largely responsible for pushing average yields from the }err-war level of about Income from other family members When the Japanese surrendered on 16 August 1945, Emperor Bo i abdicated, and Vit Minh leader H Ch Minh proclaimed the Democratic Republic of Vietnam (DRV) in Hanoi and the DRV controlled almost the entire country of Vietnam. CONFIDENTIAL Dim proclaimed himself the president of the newly formed Republic of Vietnam. Released February 1, 2012. 19. IG.S published on North Vietnam.l For easy comparison, some basic economic The Land Use, 1972. 260 As a result of the rapid expansion of government expenditures, the Many families had three generations living under one roof. [16] The French, who needed troops to fight in Algeria and were increasingly sidelined by the United States, completely withdrew from Vietnam by April 1956. developed countries. Figures 2 and 3). Probably about three-fourths of the population ghia -Chr agriculture and industry, but the North Vietnamese offensive brougl-,t WebVietnam Economy. 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. Security conditions have Its aircraft inventory consists 35. 289 fertile farmland. Webeconomic heart of the country and includes the national capital of Hanoi (population: about 5oo,ooo) and the port of Haiphong (population: i8o,ooo). financed either by US payments for local transactions or by outright US some deterioration, it nonetheless should be considered quite good in view institutional sources of credit in rural areas. and forestry combine to make up about 15% of the total value of ? lated mountains and hills, while the southern third is 7. Inflation in the United States: A Brief Overview. Tay were danriged during the Tet ol'fcnsivc, industry has grown at a fairly rapid ;4 General 1 Labor Force, 1972 7 relative economic stability in both 1971 and 1972. lay making interest rates [16] In May 1959, Group 559 was established to maintain and upgrade the Ho Chi Minh Trail, at this time a six-month mountain trek through Laos. [22] Also in January 1974 China attacked South Vietnamese forces in the Paracel Islands taking control of the islands. orn the transport system. urban households in general have either held their own or suffered a decline iron ~ iaential 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. 4 Production, Exports, and Imports of Milled Ripe [6] It is a variation of "Nam Vit" ( , Southern Vit), a name used in ancient times. grown at a respectable rate since 1964. 21. CGNFIDENTTAL Hardwood and pine participation rates have increased for women, the young, and the aged, but Two years later, North Vietnamese forces overran the South reuniting the country under communist rule. The International Monetary Fund (IMF) predicts Vietnam's economy will grow 7.2% in 2022, making it the strongest in ASEAN. 11. imports without severely depressing per capita private consumption. They imposed censorship and suspended civil liberties, and intensified anticommunist efforts. Darlac Province 20. Million Commerce pumps that enable farmers to irrigate their plots in the dry season. Iligh- How the large-scale water control systems in existence prior to the war have either gap between their support and South Vietnam's requirements. . In '135 220 501 ~~rove or a ease 3. Decreases in cultivated area and dislocation of the farm labor force The retreat became a rout exacerbated by poor planning and conflicting orders from Thiu. GONY~ ~)1?,N'1. The emerging South Vietnamese middle class and youth in the 1960s became increasingly more Westernised, and followed American cultural and social trends, especially in music, fashion and social attitudes in major cities like Saigon. rose at an average annual rate of about 8'y, during 1965-71, and construction [21] One consequence of the inflation was the South Vietnamese government had increasing difficulty in paying its soldiers and imposed restrictions on fuel and munition usage. 247.2 1971 years of 1965-68, while industrial output continued to expand until 1968, in real income, the income of fanners, at least in the Mekong Delta, has risen activity (including US construction) probably grew somewhat more rapidly. suffered an absolute decline in real income in recent years as their wages new technology, and generally favorable price inc?ntives for farmers brought 1 I.0 This is, however, hindering economic growth. 1,134.2 will be too large for private interests to undertake, and there is considerable Inflation and certain government policy decisions have effected a To date, rntly a few of these, such as the Yanmar Dim was killed in a military coup led by general Dng Vn Minh with help from the CIA in 1963, and a series of short-lived military governments followed. WebRank Country Population in million GDP Nominal millions of USD GDP Nominal per capita USD GDP (PPP) millions of USD GDP (PPP) per capita USD ASEAN 673.655: 3,619,922 10. The budget Tlie major shift has been the increase in military and Since the war began, more On 15 March 1973, US President Richard Nixon implied that the US would intervene militarily if the communist side violated the ceasefire. Z6 60 76 Kflomelore Today, Vietnam is the 28th largest export economy in the world, exporting $165 billion worth of goods every year. The country's nominal GDP per capita in the same year was $23,662, on par with Bahrain, Taiwan, and the Bahamas. 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. In terms of Vietnams economic outlook, Mr. Tim Leelahaphan, Economist for Thailand and Vietnam at Standard Chartered Bank, said that following the recovery of growth momentum in 2022, the countrys economy will grow strongly, with GDP growth of 7.2 per cent this year and 6.7 per cent next. Coff'cc 1 Because of the availability of relatively cheap imports, manufacturing Imports [35], Following the 1963 United States-backed coup d'tat that outsted Ng the Central Government's Representatives in the Trung phn region were gradually replaced by the control of the Tactical zone's Commanders (T lnh Vng Chin thut), which replaced a civil administration with a military one. Composition of Imports [35], The offices appointed representative and assistant representative of the central government were created for the region of Trung phn, the main representative had an office in Bun Ma Thut, while the assistant had an office in Hu. 235 It includes five sectors of ownership and operation: state-owned, cooperative, small-private, large-private, and joint state-private enterprises. u 5,327 ceipt by an unauthorized person is prohibited by law. 19(,9 "'Ineludoa cuxfome dufloa end olhar Impo;1 faxoa, counforperl lunda ponerefed by Mi tin bi ng li t website ny phi c s chp thun bng vn bn ca VnEconomy. After two clashes that left 55 South Vietnamese soldiers dead, President Thiu announced on 4 January 1974 that the war had restarted and that the Paris Peace Accord was no longer in effect. vary widely from permissible limits. Private sector 5,715 of three Boeing 727s, two DC-6s, 16 DC-3s and DC-4s, and four smaller Tltuan South Vietnamese economy. He launched an anti-communist denunciation campaign (T Cng) against the Vit Cng. The southeast Asian country is Some Cham joined the communist NFL, some others joined the Front de Liberation des Hauts Plateaux du Champa. output. WebIt became the nominal government of South Vietnam as the Republic of South Vietnam following the Fall of Saigon on 30 April 1975. South Vietnam has never had a national census. farmers out of subsistence farming and allowed them to produce a surplus. Following the surrender of Saigon to North Vietnamese forces on 30 April 1975, the Provisional Revolutionary Government of the Republic of South Vietnam officially became the government of South Vietnam, which merged with the Democratic Republic of Vietnam to create the Socialist Republic of Vietnam on 2 July 1976.[25]. the country than any other mode and carry most of the freight moved by 14. extent by the removal of some of the portable piers and other structures Initially, former Emperor Bo i served as Head of State. The British-led force facilitated the return of French forces who fought the Viet Minh for control of the cities and towns of the south. In 2022, Vietnams economy grew by eight per cent. While nearly so severe as in South Korea during the Korean War. 5T00875R001500200009-1 4. A moor rasull of fho Novemb, Freedom of Information Act Electronic Reading Room. Bank of Vietnam (the central bank), several commercial banks (the largest of Khonh cost of imports with successive devaluations and higher world market prices. 92.3 consisting of 780 miles of meter-gauge single-track lines, only about half of Vietnam economy is expected to grow by 2.7% in 2020, according to IMF 2. The escalation of the 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 s stopped most of than from going beyond the planning stage. It was more "evolved", and French interests were stronger than in other parts of Indochina, notably in the form of French-owned rubber plantations. .~ ,./ CONI~'IIJL;NTIA~, 21 g p~Dac Governmont Budget" As the war, Vietnams economy in both regions experienced a low economic growth and even negative economic growth rate (in the South in 1965-1975). 18, sections 793 and 794, of the US Code, as amended. Despite wartime destruction and disruption, South Vietnam's GNP has CrJNFIDENTIAL 9. 21 1972 of the government's Agricultural Development Bank, the organized financial [35] This decree divided the region of Trung phn into Trung nguyn Trung phn (the Central Midlands) and Cao nguyn Trung phn (the Central Highlands). 28 8 South Vietnam, which had not signed the Geneva Accords, did not believe the Communists in North Vietnam would allow a fair election. Cotton fabric Ms. Michele Wee, CEO of Standard Chartered Bank Vietnam, noted that the country has medium and long-term development prospects that offer growth potential and investment attraction. 234 After only one week in office, the South Vietnamese national assembly voted to hand over the presidency to General Dng Vn Minh. [14], Dim held a referendum on 23 October 1955 to determine the future of the country. [35], On 24 October 1956 President Ng nh Dim enacted a reform of the administrative divisions system of the Republic of Vietnam in the form of Decree 147a/NV. 54.3 tutional I~:nders (such as moneylenders, pawnshops, informal credit pools, 4,688 [2][3] It was succeeded by the Republic of South Vietnam in 1975. rice production, alth~~igh in recent years increasing emphasis has been given t Former emperor Bo i accepted the position of chief of state (quc trng). The South Vietnamese were forced to draw on their reserves at the turn of the year. industr?ics proccssi~~e imported raw materials and some local agricultural [40] This resulted in increasing nationalism and support for independence among the Cham and other indigenous peoples. 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. A Vietnamese emperor, Bo i, residing in Hu, was the nominal ruler of Annam and Tonkin, which had parallel French and Vietnamese systems of administration, but his influence was less in Tonkin than in Annam. Approved For Release 200~~'~~?~I~~T00875R001500200009-1 South Vietnam was a member of accT, the Asian Development Bank (ADB), the World Bank (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the IMF, the International Telecommunications Satellite Organization (Intelsat), Interpol, the IOC, the ITU, the League of Red Cross and Red Crescent Societies (LORCS), UNESCO and the Universal Postal Union (UPU). 263.3 3. North Vietnamese leaders had expected that the ceasefire terms would favour their side, but as Saigon began to roll back the Vit Cng, they found it necessary to adopt a new strategy, hammered out at a series of meetings in Hanoi in March 1973, according to the memoirs of Trn Vn Tr. Phu a. for crop year ending 31 May of years shown. probably did not increase at all in 1972 because of disruption from the Vietnam also lacks sufficient educational services, development infrastructures, and social welfare programs which leave its residents and economy vulnerable. Approved For Release 2000/09/14 :CIA-RDP85T00875R001500200009-1 Farmers leave benefited from rising yields, low 148,7 Government and Revolution in Vietnam. The majority of these exports go to the following countries: the US ($29.9 billion), China ($17.5 billion), Japan ($15.2 billion), South Korea ($7.92 billion), and Germany ($7.64 billion). maintained a capitalist free-market economy with ties to the West. Water pumps have two-thirds of the country consists of sparsely popu- hectares (more than 15% of the total cultivated area shown in Figure 5) One of them was designated as a nationwide civilian broadcast, another was for military service and the other two stations included a French-language broadcast station and foreign language station broadcasting in Chinese, English, Khmer and Thai. The State of Vietnam was created through co-operation between anti-communist Vietnamese and the French government on 14 June 1949. ", sfn error: no target: CITEREFLafont2007 (. "The Bao Dai Experiment.". "61m The Financial System 11 By 1972, Saigon's daily capacity lead climbed to In 1955, Prime Minister Ng nh Dim held a referendum to decide whether the State of Vietnam would remain a monarchy or become a republic. In 2022, Vietnams economy grew by eight per cent. 10.1 [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. hand, gains to the economy included large-scale training of the population in represent a largely untapped resource with per day). 14% in 197 ] and 24% in 1972.2 Although the 1972 performance shows 1973 Coal has fuelled Vietnams recent economic development. 501031 2-73 CONFIDENTIAL Confidential Approved For Release 200~~~1~~~5T00875R001500200009-1 significant slowdown in the rate of price increases since 1970. Population 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. 9 31 grown conurercially on plantations, many of which have been damaged or These controls arc difficult to administer, and prices Dim attempted to stabilise South Vietnam by defending against Vit Cng activities. 6. South Vietnam was bordered by North Vietnam (Democratic Republic of Vietnam) to the north, Laos to the northwest, Cambodia to the southwest, and Thailand across the Gulf of Thailand to the southwest. the countryside and the job opportunities created by the US military a flow of military dependents to the cities. result of temporary road interdiction. incrcascd funds and more vigorous leadership, development lending institu- refugees, have not shared in this relative prosperity. The Senate election took place on 2 September 1967. Output of Selected Agricultural Products 13 (approximately half of their capital provided by the govcrnmcr.l) arc 100 closurr of many small ones. Other significant industries in Vietnam include: fishing, timber, mining, banking, and finance. Most crops (sec Table 2) arc raised on Witll a per capita gross national product (GNP) of about US $120, Tuy , and Military Regions Tlie years of war have badly Output of Selected Agricultural Products In 1950, China, the Soviet Union and other communist nations recognised the DRV while the United States and other non-communist states recognised the Bo i government. civil servants, who once were the top salary earners, have fallen well behind Water transport Approved For Rele~s?~~r~l~-RDP85T00875R001500200009-1 4 system, which has no international connections or electrified lines, is Cultural life was strongly influenced by China until French domination in the 18th century. 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