Q. Consider the following statements:

  1. Vietnam has been one of the fastest growing economies in the world in the recent years.
  2. Vietnam is led by a multi-party political system.
  3. Vietnam’s economic growth is linked to its integration with global supply chains and focus on exports.
  4. For a long time Vietnam’s low labour costs and stable exchange rates have attracted global manufacturers.
  5. Vietnam has the most productive e-service sector in the Indo-Pacific region.

Which of the statements given above are correct?

  • 2 and 4
  • 3 and 5
  • 1, 3 and 4
  • 1 and 2

Answer: (c) 1, 3 and 4

Vietnam:
  • It is a country occupying the eastern portion of mainland Southeast Asia.
  • Vietnam’s greatest economic resource is its literate and energetic population.
  • Its long coastline provides excellent harbours, access to marine resources, and many attractive beaches and areas of scenic beauty that are well suited to the development of tourism.
  • Since the late 1990s, the country’s economy has been on a vigorous upswing.
  • Tourism has expanded, manufacturing and export earnings have increased, and the per capita gross domestic product (GDP) has grown rapidly.
  • GDP growth statistics report states that Vietnam is the fastest growing world economy with a growth rate of 7.31% in 2019.
  • It is a single-party socialist republic state.
  • It has surpassed the growth rate of other Asian economies including India and China, which stand at 4.5% and 6% CAGR respectively.
  • Unfortunately, their e-service sector isn’t that productive. Hence, Statement 5 is not correct.
  • Vietnam’s economic growth is linked to its integration with global supply chains and its focus on exports.
  • Vietnam has low labour costs and stable exchange rates which attract global investments.
Vietnam