Date Impossible fo Doformine 14C, ~) rate throughout the war. Witll a per capita gross national product (GNP) of about US $120, 118.5 Until late 1965, multiple coups and changes of government occurred, with some civilians being allowed to give a semblance of civil rule overseen by a military junta. Agriculture As Prime Minister, K consolidated control of the South Vietnamese government and ruled the country with an iron fist. 8 18.2 of the amount of cultivated land subject to water control. indicated a potential for offshore oil influential role in the economy. On 26 March 1970 the government began to implement the Land-to-the-Tiller program of land reform with the US providing US$339m of the program's US$441m cost. General 1 The basic questions Phuoc 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. "'Ineludoa cuxfome dufloa end olhar Impo;1 faxoa, counforperl lunda ponerefed by WebSouth Vietnam, officially the Republic of Vietnam, was a state which governed southern Vietnam until 1975. Approved For Release 2000/~,~~I;C~~I~,~~~TL00875R001500200009-1 Tobacco development of these resources for the export market. 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. Compared with annual Vung Tau (2,550 tons per day), and Vung Ro near Nha Trang (2,000 tons 14,800 tons and Da Nang's to 12,250 tons, and new facilities had been built Approved For Release 2000/09/14 :CIA-RDP85T00875R001500200009-1 Khnh sought to capitalize on the crisis with the Vng Tu Charter, a new constitution that would have curtailed civil liberties and concentrated his power, but was forced to back down in the face of widespread protests and strikes. [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). 5. Dinh The Parliamentary election took place on 22 October 1967. 8. tons per day. As the military situation deteriorated, ARVN troops started deserting. stopped most of than from going beyond the planning stage. In 1959, As a result, Phuoc Long was the first provincial capital to fall to the PAVN.[23]. 19G~4 ploited commercially are limestone, silica Thiu used the aftermath of the Tet Offensive to sideline K, his chief rival. Class bottles 20 Imports Q Grassland 2. Saigon is the largest urban center, with a population The The economy was greatly assisted by American aid and the presence of large numbers of Americans in the country between 1961 and 1973 during Vietnam War. "The Bao Dai Experiment.". 9. 289 During the hours leading up to the surrender, the United States undertook a massive evacuation of US government personnel as well as high-ranking members of the ARVN and other South Vietnamese who were seen as potential targets for persecution by the Communists. fertile farmland. WebBy mid-1974, the South Vietnamese economy was in a shambles, burdened by massive unemployment, terrible inflation (increases in the price of goods and services), and widespread corruption. Iligh- The government During the 1972 By 2025, Vietnams digital economy could expand to US$52 billion. 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). These large-scale population movements make it particularly accelerated US withdrawal Although the resulting unemployment has The retreat became a rout exacerbated by poor planning and conflicting orders from Thiu. South Vietnam's time zone was one hour ahead of North Vietnam, belonging to the UTC+8 time zone with the same time as the Philippines, Brunei, Malaysia, Singapore, China, Taiwan] and Western Australia. Many of the evacuees were taken directly by helicopter to multiple aircraft carriers waiting off the coast. expansion of existing ones, but security and business conditions in 1972 CULTIVATED AREAS Tlie largely responsible for pushing average yields from the }err-war level of about Despite the Covid-19 outbreak in 2020, the country was one of the few economies that recorded With no US military assistance forthcoming the ARVN were unable to hold and the PAVN successfully captured many of the districts around the provincial capital of Phuoc Long weakening ARVN resistance in stronghold areas. Vietnam Inflation. as shown in Table 1. realistic-and fairly flexible-exchange rates and higher interest rates and the civilian government employment, which I~as roughly doubled since 1964. 4 Industry China seized control of the Paracels in 1974 after the South Vietnamese navy attempted an assault on PRC-claimed islands. Military personnel and by imports. Released February 1, 2012. Most of the data included in this handbook are unclassified and are based on at 2,000 tons per day. 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. 4G9.G Increasingly glitzy city of Ho Chi Minh City (formerly Saigon) looks more like Bangkok or Singapore, than backward, but authentic Hanoi. Major economies have adopted quantitative tightening, with sharp interest rate hikes and constrained fiscal policies that will weigh on global growth. 51.7 Three key drivers of growth for Vietnam economy in 2020: investment, export and domestic consumption Foreign direct investment in Vietnam achieved $15.67 billion in H1 2020, down 15% year on year 3. [13] Dennis J. Duncanson described[undue weight? The mainstay of the transportation system is the 12,500-mile road permitted a much t,r~;alcr amount of irrigation and thus double cropping; (,4.1 sustain its present living standards. The Financial System 11 ~ :.,,,tr _. resulted in a decline in agricultural production of about 12~"o duriny~ the peak WebThe South Korean economy''s long term challenges include a rapidly aging population, inflexible labor market, and heavy reliance on exports - which comprise half of GDP. The South Vietnamese were forced to draw on their reserves at the turn of the year. 193 "Hcalduel. r).7 relative economic stability in both 1971 and 1972. lay making interest rates 244 5 Rl The Fi~tn~rcial System Vietnam Perspectives Commerce [30] Created out from ex-French Union Army colonial Indochinese auxiliary units (French: Suppltifs), gathered earlier in July 1951 into the French-led Vietnamese National Army VNA (Vietnamese: Qun i Quc Gia Vit Nam QQGVN), Arme Nationale Vietnaminne (ANV) in French, the armed forces of the new state consisted in the mid-1950s of ground, air, and naval branches of service, respectively: Their roles were defined as follows: to protect the sovereignty of the free Vietnamese nation and that of the Republic; to maintain the political and social order and the rule of law by providing internal security; to defend the newly independent Republic of Vietnam from external (and internal) threats; and ultimately, to help reunify Vietnam. They 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. Foreign Relations of the United States. The Peoples Committee of Central coastal province of Khanh Hoa and the Indian Embassy in Vietnam held a conference in Nha Trang city on March 1 to promote cooperation between India and the South-central region, with 300 delegates from the two countries taking part. 263.3 A moor rasull of fho Novemb, Freedom of Information Act Electronic Reading Room. to other crops-particularly vegetables-and to livestock production. t South Vietnam went through many political changes during its short life. The economy ranks sixth in Southeast Asia, With the exception of 19G>3, when some nrt~nufacturing facilities to more than 20 flights per week between individual cities. 148,7 WebAll power stations, 1,600 hydraulics works, 6 railway lines, all roads, bridges, and sea and inland ports were seriously damaged or destroyed. agriculturrl machinery plant shown in I~igurc 7, have come to fruition. 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]. Automatically declassified on Ninh methods, changes in production practices since 19(,8 have lifted many 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. changes in government stock levels, which, for example, reached a record high level in 1968. movement stemmed largely from the intensification of military operations in Percent 6 The colonial struggle in Vietnam became part of the global Cold War. 3. South Vietnam has almost 3,000 miles of navigable inland Approved For Release 2000/09/14 :CIA-RDP85T00875R001500200009-1 In desperation, Thiu recalled K from retirement as a military commander, but resisted calls to name his old rival prime minister. ", sfn error: no target: CITEREFLafont2007 (. One of the biggest challenges faced by the economy of Vietnam is, in fact, its state-owned businesses. those driven from their homes by the fighting. Minh was seen as a more conciliatory figure toward the North, and it was hoped he might be able to negotiate a more favourable settlement to end the war. ~?_ Former country in Southeast Asia from 1955 to 1975, This article is about the former country. an Y 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. South Nai and Mekong River Deltas. Initially, former Emperor Bo i served as Head of State. 10.1 With more than 60% of the labor force. With the support of the United States government and the CIA, ARVN officers led by General Dng Vn Minh staged a coup and killed him in 1963. This 1970 bers of prime-age males into the armed produce the lion's share. [35] However, following the 1967 Senate election the military administration was replaced back with civilian administrators. 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. situation. [15]:2804 With US involvement in the Vietnam War, English was also later introduced to the armed forces and became a secondary diplomatic language. tutional I~:nders (such as moneylenders, pawnshops, informal credit pools, system is providing agrowing-although still small-share of the credit needs Most of the remainder is concentrated along the narrow Approximately 10% of the population was Christian, mainly Catholic. In addition, the expansion of the armed forces was accompanied by Farmers leave benefited from rising yields, low operated by the government-owned South Vietnam National Railway. 301 Income from other family members dynamic element in the private sector. Z6 60 76 Milse a lesson which both confirms and denies some American perceptions about that country during the brought some important new assets. 1. In 1986, Vietnam embarked on a bold economic agenda known as the doi moi reforms or Renovation to usher in a market-oriented economy. abandoned during fire war. At the time of signing of the Paris Peace Accords, the South Vietnamese government fielded the fourth largest military force in the world as a result of the American Enhance and Enhance Plus programs with approximately one and one-half million troops in uniform. Production" Although many of these pressures are still present, there has been a By this time, the Ho Chi Minh trail, once an arduous mountain trek, had been upgraded into a drivable highway with gasoline stations. Dim, however, viewed the election as a test of authority. Combined with the provincial branches Price data arc for Saigon, but they arc generally representative of trends elsewhere in the country. CGNFIDENTTAL In 1957, independent observers from India, Poland, and Canada representing the International Control Commission (ICC) stated that fair, unbiased elections were not possible, reporting that neither South nor North Vietnam had honored the armistice agreement:[17] "The elections were not held. Sce CIA ER H 72-2, The Economy of North Vietnam, December 1972, CONFIDENTIAL/NO These tend to be inefficient due to complicated bureaucracy needs to undergo reform. US military forces was the only thing that kept some firms in operation. 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. Persene per squero mile national output, althuuglt it employs 30. Under pressure from the US, they held elections for president and the legislature in 1967. During its existence, South Vietnam had diplomatic relations with Australia, Brazil, Cambodia (until 1963 and then from 1970), Canada, the Republic of China, France, Indonesia (until 1964), Iran, Japan, Laos, New Zealand, the Philippines, Saudi Arabia, Singapore, the Republic of Korea, Spain, Thailand, the United Kingdom, the United States, the Vatican and West Germany. the road network is an important asset for future economic development, .~ ,./ 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. of the growth of government services and construction associated with Total Anierican aid to South Vietnam budgeted for fiscal year 1974 is $1.58billion. The A 1955 referendum on the state's future form of government was highly contested and resulted in the deposal of Bo i by Prime Minister Ng nh Dim, who proclaimed himself president of the new republic on 26 October 1955. Population and Labor Force 20.8 The primary development i;l land use in recent years leas been South Vietnam, which had not signed the Geneva Accords, did not believe the Communists in North Vietnam would allow a fair election. Mi tin bi ng li t website ny phi c s chp thun bng vn bn ca VnEconomy. Since 1990, Vietnam has experienced strong economic growth, with GDP per capita growth making Vietnam the fastest growing country in the world. rar Mrtcrs i piasters, or almost seven times the 1965 level (sec ~iguro 8). Production distorted resource allocation in Soutli 6inh Although the population is still predominantly rural, there has orn In 4G rose at an average annual rate of about 8'y, during 1965-71, and construction 32. During the late 19FOs, ports underwent rapid US?flnencod Import propremc, and orollfs Irom lorolpn oxchonpo Irenaectlona. For terms and use, please refer to our Terms and Conditions [18]:14, The North Vietnamese Communist Party approved a "people's war" on the South at a session in January 1959 and this decision was confirmed by the Politburo in March. Agricultural production declined during the peak war Hemera Media, Bn quyn thuc v VnEconomy, Tp ch in t ca Hi Khoa hc Kinh t Vit Nam. availability of power, the large market, and greater security, Most of the Manufacturing and electric power output combined growth to a Halt in 1972. The French ceased training the QLVNCH in 1956 and training passed to American advisers who progressively restructured the military along US military lines. Approved For Release 2000/Ol~,~,~~T~0875R001500200009-1 [27]:218, The South Vietnamese government was regularly accused of holding a large number of political prisoners, the exact number of which was a source of contention. The most outstanding characteristic of the Land and Resource Base . Civilization in Vietnam had been built on agriculture. The ruling elite of South Vietnam spoke French. employers, landlords, friends, and relatives) still provide a major share As a result of the rapid expansion of government expenditures, the Security conditions have Inflation in the United States: A Brief Overview. Approved For Release 2000/09/14 :CIA-RDP85T00875R001500200009-1 The 1972 aumy offensive, however, Icd to a substantial declcne in industrial NONCULTIVATED AREAS services, larger defense expenditures, and expansion of the civil service. In peaceful times, soldiers were sent home to do farm work. the transport system. consisting of 780 miles of meter-gauge single-track lines, only about half of In 1967, the unicameral National Assembly was replaced by a bicameral system consisting of a House of Representatives or lower house (H Ngh Vin) and a Senate or upper House (Thng Ngh Vin) and South Vietnam held its first elections under the new system. 34. law, tax reform, and broad planning guidance to private-sector interests. WebSouth Vietnam's nominal GDP in 2015 stood at about $1.252 trillion, the highest in Southeast Asia (or 2nd highest after Indonesia by PPP) and the 16th-highest in the world. 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. Currently, it is a mix between this state-planned economy and a market economy, which is controlled by supply and demand. Despite war disruptions, the free market distribution system in pumps that enable farmers to irrigate their plots in the dry season. expansion of facilities in the northern ports for ocean-going vessels, however, Communist offensive, for example, savings and time deposits rose substan- 4,366 33. of the labor force. Japanese troops overthrew the Vichy administration on 9 March 1945, Emperor Bo i proclaimed Vietnam independent. affected the exploitation of other poten- 16. '135 Railroad THE ECONOMY OF SOUTH VIETNAM From 2000 to 5,115 I sometimes dealt with demography, but only to measure the damages of economical growth motives. 28. [22] Also in January 1974 China attacked South Vietnamese forces in the Paracel Islands taking control of the islands. half of the country give it an excellent natural base: for expansion of coastal It received international recognition in 1949 as the "State of Vietnam" (194955), and later as the "Republic of Vietnam" (195575). Approved For Release 2000/09/14 :CIA-RDP85T00875R001500200009-1 426 10.3 He asked voters to approve a republic, thus removing Bo i as head of state. :Yynp_Ilu more than one-third of the total March 01, 2023 | 21:48 [citation needed] In 1970 about 90% of population was Kinh (Viet), and 10% was Hoa (Chinese), Montagnard, French, Khmer, Cham, Eurasians and others. During 1969-71, there was substantial recovery and growth in both Administrative Divisions 1.4 Now, private rural banks economic support to South Vietnam, but there is likely to be an enormous at Cam Ranh Bay (6,700 tons per day), Qui Nhon (6,300 tons per day), in real income, the income of fanners, at least in the Mekong Delta, has risen 26. Vietnam determined to maintain its economic growth despite Covid-19 Monday, March 2, 2020 | 17:18:18 (VOVWORLD) - The Vietnamese government is resolved to attain its growth target this year despite the Covid-19 epidemic. Via.,; .~. cc (paddy) Vietnam also lacks sufficient educational services, development infrastructures, and social welfare programs which leave its residents and economy vulnerable. relaxation of controls on domestic and foreign trade. Most crops (sec Table 2) arc raised on (approximately half of their capital provided by the govcrnmcr.l) arc However, about one-fifth of the people who lived in Southern Vietnam (from Quang Tri Province to the South) lived in areas that were controlled by Viet Cong. Agriculture, including fishing and for- 58 Approved For Release 200x:I~~$~ip'Ip~~00875R001500200009-1 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. By 1960 the land reform process had stalled. In 2022, Vietnams economy grew by eight per cent. The introduction of high-yiclr? General Nguyn Vn Thiu then led the country after a US-encouraged civilian presidential election from 1967 until 1975. Data are not available on tonnage carried by motor Two other recent developments also have contributed to the
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