Local garment companies have to import more than 65 percent of raw materials, including fabrics and other accessories from overseas, especially from China, which owns the bulk of the world’s polyester production and is one of the top producers of cotton, said Le Quoc, a senior advisor to the Vietnam Textile and Garment Association. Lessons from the Virus and doing development differently, Crushing China’s nine-dash line claim in the East Sea. Building a reasonable growth scenario and finding out ways to achieve the goal is how that Vietnam can escape the middle-income trap. In 2013 alone, Vietnam had nearly 3,000 scientific projects recognized by functional agencies. from application/x-indesign to application/pdf The business community in Vietnam is waiting for clear legal documents on digitalisation development for them to perform better in the country. The traditional cultural values of Vietnamese people are spread widely, winning the hearts of many people around the world. In addition to the government’s policies on science and technology development, the Ministry of Science and Technology launched a campaign promoting science and technology innovations. Vietnam promotes investment in science and technology research — VNA Photo. They include the project Fostering Innovation Through Science and Technology known as FIRST, which is worth 110 million USD. When the surplus of Vietnam Social Security—the pay-go pension system—and other extrabudgetary funds are included, the general government deficit averages 2.7 percent of GDP in 2017–18. Many notable artists discuss the advantages and disadvantages of the online theater trend with VietNamNet. Vietnam is now undergoing another transformation -- thanks to technology. While it was feasible to achieve annual 7-8 per cent GDP growth in the 2000s when Vietnam's economy was relatively small it will require a tremendous amount of effort to stay on that course as the country's GDP nearing the $200 billion mark. Japanese The goal is that in the next four years local support industries will have 1,000 suppliers that can meet 45 percent of the manufacturing sector’s demand. All rights reserved. 2014-05-14T15:33:31.000-04:00 Key trends and critical insights into Information Technology Markets along with key drivers, restraints, and growth opportunities are presented in the report. Khmer It’s a communist country that tapped capitalism to average 6.4% GDP growth through the 2000s. On September 27 construction of a US$66 million hi-tech agricultural complex began in the Central Highlands province of Dak Lak. The Vietnamese Government has identified ICT as a key sector cont… Some countries may say Vietnam chooses this or that side. Five Charts Explain Vietnam's Economic Outlook. 2015-04-11T15:29:45.463-04:00 For textiles and garments as well as footwear, it is around 10 percent. In order to become a high-income country by the year 2045, the country must meet its target of $12,000 income per-capita, Lan said. Hong Sun, vice-president of the Korea Chamber of Business in Vietnam, said there are certain similarities between Vietnam today and South Korea in the 70s. Vietnam wants to earn around $1 billion from growing macadamia by 2030, and although some plantations have achieved partnerships with domestic buyers. The more favorable fiscal position provides the authorities with the means to step in should downside risks materialize. <>/Font<>/ProcSet[/PDF/Text]/XObject<>>>/Rotate 0/TrimBox[0.0 0.0 1162.2 793.701]/Type/Page>> While pension reforms are difficult as they take decades to complete, they should start as soon as possible to ensure long-term sustainability. In addition to fine-tuning support policies, a number of projects have been implemented to encourage overseas Vietnamese scientists to return home. This September marks 75 years since the Vietnamese people, under the leadership of the Communist Party of Vietnam (CPV), overthrew 80 years of French colonial rule. The Vietnamese workforce also saw one of the fastest productivity growth rates in the region. proof:pdf    Prime Minister Nguyen Tan Dung said:“According to the resolution of the 6th Plenum of the 11th Party Central Committee, science and technology development and application are one of Vietnam’s top national priorities and the most important driver of socio-economic development and national defense. At the same time, retirement ages are low, with 55 years for women and 60 years for men, far below the OECD average of 67 years, but also below that of other Asian countries (between 63 and 65 years on average). Domestic companies in support industries can only meet about 10 percent of the demand, Anh added. Official figures show about 80 percent of parts suppliers in Vietnam, including electronic and other metal parts, are foreign companies. Over the past five years, the Vietnamese government has invested about VND10 trillion ($450 million) in technology and science. Vietnam Hardware, Vietnam Personal Computer, Vietnam IT Software, and Services markets are analyzed and forecast to 2026. Businesses and citizens appeal to the Prime Minister for help as a last resort. In its drive for modernization, the country is also forecast to import machinery and equipment worth $250 billion between 2011 and 2025. Current economic risks relate to geopolitics, trade policy uncertainty, and domestic reform implementation. In recent years, Vietnam successfully reversed the rapid rise in public and publicly guaranteed debt, which declined to 55.6 percent of GDP at end-2018, down 4 points of GDP from its 2016 peak.

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