south vietnam economy

19h8 1.4 33 CONI~'IIJL;NTIA~, planned for 1973 calls for an increase in spending Icvcls of nearly 20~Io in 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 98 farmers out of subsistence farming and allowed them to produce a surplus. Furthermore, while inflation is expected to be moderate, it will still be higher than pre-Covid levels, to the detriment of domestic consumption. availability of power, the large market, and greater security, Most of the situation. South Vietnam's financial system is still relatively small and influential role in the economy. A gas pipeline would be built from North Vietnam to the Vit Cng provisional capital in Lc Ninh, about 60mi (97km) north of Saigon. 289 Ninh [9] The Saigon-Cholon Peace Committee, the first Vit Cng front, was founded in 1954 to provide leadership for this group. resulted in a decline in agricultural production of about 12~"o duriny~ the peak Communist forces overran Saigon on 30 April 1975, marking the end of the Republic of Vietnam. agriculturrl machinery plant shown in I~igurc 7, have come to fruition. Y mer A Nculturai. Notably, the Hu Pht n shootings of 8 May 1963 led to the Buddhist crisis, provoking widespread protests and civil resistance. 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. llue: Cultural life was strongly influenced by China until French domination in the 18th century. government or by local Chinese businessmen. their counterparts in the private (non-agricultural) sector, and they have Approved For Release 2000/09/14 :CIA-RDP85T00875R001500200009-1 The poll was supervised by his younger brother, Ng nh Nhu. Route 1 along the coast. 16 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 Government Budget The Vit Cng's strength encircles Saigon and has recently begun to move closer in the city. 193 US military forces was the only thing that kept some firms in operation. Z6 60 76 Milse Released February 1, 2012. are how to expand production, stimulate exports, and reduce dependence on 1973 3G INTELLIGEN( E 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 burgeoning trade through the region. yicld rice is now grown oft about one-fourth of the riceland and has barn WebAlthough Vietnam's economy, which continues to expand at an annual rate in excess of 7 percent, is one of the fastest-growing in the world, the economy is growing from an COr l F ~F~'TiAT . 118 7.0 The National Assembly/House of Representatives was located in the Saigon Opera House, now the Municipal Theatre, Ho Chi Minh City,[27]:100 while the Senate was located at 45-47 Bn Chng Dng Street (ng Bn Chng Dng), District 1, originally the Chamber of Commerce, and now the Ho Chi Minh City Stock Exchange. The regular North Vietnamese army and Vit-Cng auxiliaries launched a major second combined-arms conventional invasion in 1975. Tay of three Boeing 727s, two DC-6s, 16 DC-3s and DC-4s, and four smaller As the military situation deteriorated, ARVN troops started deserting. cc (paddy) of the labor force. gap between their support and South Vietnam's requirements. I~h~ DOO~CI Almost two-thirds of the population lives in the flat southern half size and activity of public credit institutions and interest rate reform. Almost all non-handi- Transportation . villages cr to be resettled elsewhere. large firms arc owned by the. 0 10 , ;~:=183 2B0 significant potential. t 5 Starting in 1969, }towcver, i-nprovements in security, adoption of 13. THE ECONOMY OF SOUTH VIETNAM Output of Selected Industrial Products 16 Not surprisingly, that this fact is significant in the economy: south Vietnam growth engine, and boasts the lower unemployment and the higher average wage. 14. In- In 1975, the PAVN launched an offensive at Ban Me Thuot in the Central Highlands, in the first phase of what became known as the Ho Chi Minh Campaign. The most outstanding characteristic of the Income from other family members [9], In July 1955, Dim announced in a broadcast that South Vietnam would not participate in the elections specified in the Geneva Accords. The North was known as the "Democratic Republic of Vietnam". ? Webeconomic heart of the country and includes the national capital of Hanoi (population: about 5oo,ooo) and the port of Haiphong (population: i8o,ooo). about 700,000 hectares and applications had been approval I'or an paperboard 108 Before World War II the system linked Saigon and largely responsible for pushing average yields from the }err-war level of about The state- owned sector includes most large industrial enterprises, state farms, lumber products. 498 The oil price shock of October 1973 caused significant damage to the South Vietnamese economy. 31 Agriculture exemption catogory 58(12,(2),(3) Another significant warlinte development was the tuloplion in the cost of maintaining it will be quite High. Imports and rehabilitated with US aid. For its geographical region, see, "Republic of Vietnam" redirects here. piasters, or almost seven times the 1965 level (sec ~iguro 8). CONFIDENTIAL sufficiattly to attract a number of inquiries from p, ate foreign investors. Prepared by Edward C. Keefer, John M. Carland, and Bradley L. Coleman. WebSouth Vietnam's Economy A NOTE Curtis Crawford Mr. Curtis Crawford is Instructor in International Relations and Philosophy at the New School for Social Research. past year or so the government has begun to cope with some of these issues by offering general incentives such as devaluations, an attractive investment quantities each year (see Figure 6). below most other less developed countries of Southeast and East Asia. When Vietnam was divided, 800,000 to 1million North Vietnamese, mainly (but not exclusively) Roman Catholics, sailed south as part of Operation Passage to Freedom due to a fear of religious persecution in the North. Categories rice and distributes it and frequently purchases domestic rice in the Mekong Although the population is still predominantly rural, there has half of the country give it an excellent natural base: for expansion of coastal South Vietnam had one major port, Saigon, with a rated capacity of 8,400 He was unpopular however, largely because monarchical leaders were considered collaborators during French rule and because he had spent his reign absent in France. Domestic Trade and Finance [12] He also claimed the communist government in the North created conditions that made a fair election impossible in that region. CGNFIDENTTAL Air Vietnam also activities usually reserved For the private sector. Confidential 4 and roads. [18]:16. output. 3 At the time of the conference, it was expected that the South would continue to be a French dependency. General Nguyn Vn Thiu then led the country after a US-encouraged civilian presidential election from 1967 until 1975. were danriged during the Tet ol'fcnsivc, industry has grown at a fairly rapid On this Wikipedia the language links are at the top of the page across from the article title. Population 8 substantially since 1969. The Presidential election took place on 3 September 1967, Thiu was elected president with 34% of the vote in a widely criticised poll. growing about 3% annually. stopped most of than from going beyond the planning stage. The railroad system in South Vietnam was built by the French South Vietnam has almost 3,000 miles of navigable inland 0 Vietnam's civil air service now includes both domestic and international However, South Vietnamese Premier Ng nh Dim, who preferred American sponsorship to French, rejected the agreement. [15]:239 On 26 October 1955, Dim declared himself the president of the newly proclaimed Republic of Vietnam. The colonial struggle in Vietnam became part of the global Cold War. The southeast Asian country is 8. Total Anierican aid to South Vietnam budgeted for fiscal year 1974 is $1.58billion. Production 125.7 Compared with annual Provinco boundary 3C. 10.5 18 cultivated area) was to be lransl'crrcd at government expense to plots than bb There were over 25,000 South Vietnamese casualties during the ceasefire period. The primary development i;l land use in recent years leas been 5 Public reaction was unfavorable, and on 4 June 1973 the US Senate passed the CaseChurch Amendment to prohibit such intervention. "61m Cc trang ngoi s c m ra ca s mi. bers of prime-age males into the armed land area, as shown in Figure 4, also 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. 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. more than one-third of the total 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. 148,7 been damaged or neglected. 0,3 5. The Vietnamese ~ lave always made extensive use of natural 38 28.5 501031 2-73 Cotton yarn 4 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. Per capita GDP as of 2013 was $2,073, with an unemployment rate of just 2.1% and a poverty rate of 13.5%. Most crops (sec Table 2) arc raised on Binh South Vietnam's 7.G to attract a muc}t larger share of people's money incomes. Output of Selected Induvlrlnl 1'roducls 31 may be directed the Office of Economic Research, 25X1 A In addition, the government periodically Thiu used the aftermath of the Tet Offensive to sideline K, his chief rival. [36] During the same period, rice output increased by 203 percent and the number of students in university increased from 2,000 to 90,000. For terms and use, please refer to our Terms and Conditions S 32 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 How can Vietnam improve its economy? There are many ways Vietnam can do better. From macro like improve transparency with government spending and government enterprises, democratise the government, moving to private economy and release governments grip on key industry such as energy, telco, banking. in real income, the income of fanners, at least in the Mekong Delta, has risen Dim proclaimed himself the president of the newly formed Republic of Vietnam. (probably more than half) of the credit to the private sector. 234 Some 95"l0 ~f its iml;orts in 1972 were Fishing 74 declined during the peak war years because of insecurity and lack of canal the main rail network is available for service because of war damage. Dim's removal and assassination set off a period of political instability and declining legitimacy of the Saigon government. 2 ;4 3. The military nominated Nguyn Vn Thiu as their candidate, and he was elected with a plurality of the popular vote. A last-ditch defense was made by the ARVN 18th Division at the Battle of Xun Lc from 921 April. Price data arc for Saigon, but they arc generally representative of trends elsewhere in the country. 21 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. 1960 61 62 83 84 65 66 67 68 89 70 71 72 authorized funds. Global growth is forecast at 2.5 per cent for the year. have resulted in a decline in coastal shipping since 1969. Saigon is the largest urban center, with a population over the years indicate that the population is about 19 million and has been Dim had never truly supported reform because many of his biggest supporters were the country's largest landowners. This The purpose of the event is to effectively implement the Vietnam-India Joint Vision Statement on peace and prosperity as approved by the Prime Ministers of the two countries on February 21, 2020. Vietnam Perspectives [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. IG.S [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. Some investment projects During the 1972 The country's nominal GDP per capita in the same year was $23,662, on par with Bahrain, Taiwan, and the Bahamas. Approved For Release 2000~A~~j~I~~:~~~T00875R001500200009-1 The Mekong Delta products three-fourths of the The interest rate reform in late 1970, which approximately oc Additionally, in order to protect many industries within the country, the government does not allow private ownership or foreign investment. 526 Manufacturing and electric power output combined [22] Also in January 1974 China attacked South Vietnamese forces in the Paracel Islands taking control of the islands. 20 Exempt from genorol years of 1965-68, while industrial output continued to expand until 1968, 19. Its principal export goods include: broadcasting equipment ($23.8 billion), computers ($7.98 billion), crude petroleum ($6.87 billion), leather footwear ($6 billion), and integrated circuits $4.6 billion). During the late 19FOs, ports underwent rapid 5 Probably about three-fourths of the population expansion of facilities in the northern ports for ocean-going vessels, however, 33.2 Inflation accelerated in December to 4.5% (November 4.4%) as higher price pressures for housing, energy and education more than offset falling transport prices. Although the government is actively involved in improving the economy of Vietnam, it has been criticized for not moving quickly enough. Dinh Despite the end of French colonial rule, the French language maintained a strong presence in South Vietnam where it was used in administration, education (especially at the secondary and higher levels), trade and diplomacy. 4. y Approved For Release 2000/09/14 :CIA-RDP~'~d8~511iF'5Q~~~0~09 ~1 during 191 ~-30. Approved For Release 2004j~~~,5T00875R001500200009-1 From 2000 to The mainstay of the transportation system is the 12,500-mile road hectares (more than 15% of the total cultivated area shown in Figure 5) An 6 The basic questions A spokesman for Thiu admitted in a TV interview that the government was being "overwhelmed" by the inflation caused by the oil shock, while an American businessman living in Saigon stated after the oil shock that attempting to make money in South Vietnam was "like making love to a corpse". Family employment have diminished with the withdrawal of US forces. and improved popular attitudes toward the banking system. p~Dac 6. services, larger defense expenditures, and expansion of the civil service. The International Monetary Fund (IMF) predicts Vietnam's economy will grow 7.2% in 2022, making it the strongest in ASEAN. This was known as the "Bo i Solution". 22. [7] In 1945, the nation's official name was changed back to "Vietnam". South Vietnam is still utterly dependent on American economic aid. by imports. cost of imports with successive devaluations and higher world market prices. Exports were nearly wiped out, and dependence on imports increased DIRECTORATE OF March 1970 of a r?udical land reform program to give tenant f,u?mcrs rind On 15 March 1973, US President Richard Nixon implied that the US would intervene militarily if the communist side violated the ceasefire. M In spite of this, a 1961 US intelligence estimate reported that "one-half of the entire rural region south and southwest of Saigon, as well as some areas to the north, are under considerable Communist control. products, piustics and other chemicals, cement, glass, and the output of a As a result, Phuoc Long was the first provincial capital to fall to the PAVN.[23]. March 1973 [4] In 1949, anti-communist politicians formed a rival government in Saigon led by former emperor Bo i. Increased local procurement by Vietnamese and The labor force is made up of 54.61 million people. An even larger, armored invasion from the North commenced during the Easter Offensive following US ground-forces withdrawal, and had nearly overrun some major northern cities until beaten back. Tltis slowed the significant slowdown in the rate of price increases since 1970. 'z/ 4L.L''r Agriculture 120 miles in the south. Approved For Release 200~1~~I~~'~'~T00875R001500200009-1 This Domestic Trade 11 Clectric power North Vietnam launched a conventional invasion of South Vietnam in late March 1972 which was only finally repulsed by October with massive US air support. Duncanson, Dennis J. The most famous policy applied in the agriculture sector was Land Reform, which gave land use rights to households. 301 -Chr [26]:273 The uprising was unsuccessful and Ky's repressive stance towards the nation's Buddhist population continued. [citation needed] In 1970 about 90% of population was Kinh (Viet), and 10% was Hoa (Chinese), Montagnard, French, Khmer, Cham, Eurasians and others. Darlac Province F Administrative Divisions CrJNFIDENTIAL 7. Road 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). Land Use WebNorth Vietnam under the socialist mechanism depended on aid from socialist countries, while South Vietnam developed its market economy mechanism with the help of the US government. 48.5 Currently, it is a mix between this state-planned economy and a market economy, which is controlled by supply and demand. 4 with annual growth averaging about 9%n during 1969-71. has been made possible by the fairly widespread introduction of small water The busy commercial port of Singapore, Southeast Asia's richest economy. 15. Approved For Release 2000/0~~4~~~~;p~.~5~T~0875R001500200009-1 The French Indochina War began on 19 December 1946, with the French regaining control of Hanoi and many other cities. Tobacco 4G9.G South Vietnam has never had a national census. The organized financial system is only just beginning to play an CONFIDENTIAL represent a largely untapped resource with assistance. prejudice against the ethnic Chinese community, the largest and most Approved For Release 20001'F~i~[~F~00875R001500200009-1 A [35], On 1 January 1969, during the presidency of Nguyn Vn Thiu, Act 001/69 became effective which abolished the offices of government's representative and assistant government's representative, this was later followed on 12 May 1969 with Decree 544 N/ThT/QTCS which completely abolished the civil administration in Trung nguyn Trung phn in favour of the T lnh Vng Chin thut.[35]. 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. He asked voters to approve a republic, thus removing Bo i as head of state. Prior to er u Approved For Release 2000/~h'~'~ II~f~~~00875R001500200009-1 These tend to be inefficient due to complicated bureaucracy needs to undergo reform. Milllo-r N To date, rntly a few of these, such as the Yanmar Data are not available on tonnage carried by motor 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. Despite war disruptions, the free market distribution system in Phuoc due in large part to various economic reforms, including the adoption of The labor force is made up of 54.61 million people tobacco 4G9.G South Vietnam for. 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