Judicial branch: Supreme People's Court, chief justice is elected for a five-year term by the National Assembly on the recommendation of the president
Political parties and leaders: only party - Communist Party of Vietnam or CPV
International organization participation: ACCT, APEC, AsDB, ASEAN,
CCC, ESCAP, FAO, G-77, IAEA, IBRD, ICAO, ICRM, IDA, IFAD, IFC, IFRCS,
ILO, IMF, IMO, Inmarsat, Intelsat, Interpol, IOC, IOM (observer), ISO,
ITU, NAM, OPCW, UN, UNCTAD, UNESCO, UNIDO, UPU, WCL, WFTU, WHO, WIPO,
WMO, WToO, WTrO (applicant)
Diplomatic representation in the US: chief of mission: Ambassador LE VAN BANG chancery: 1233 20th Street NW, Washington, DC 20036, Suite 400 telephone: (202) 861-0737 FAX: (202) 861-0917 consulate(s) general: San Francisco
Diplomatic representation from the US: chief of mission: Ambassador Douglas B. "Pete" PETERSON embassy: 7 Lang Ha Road, Ba Dinh District, Hanoi mailing address: PSC 461, Box 400, FPO AP 96521-0002 telephone: (4) 8431500 FAX: (4) 8350484 consulate(s) general: Ho Chi Minh City
Flag description: red with a large yellow five-pointed star in the center
@Vietnam:Economy
Economy - overview: Vietnam is a poor, densely populated country that has had to recover from the ravages of war, the loss of financial support from the old Soviet Bloc, and the rigidities of a centrally planned economy. Substantial progress was achieved from 1986 to 1996 in moving forward from an extremely low starting point - growth averaged around 9% per year from 1993 to 1997. The 1997 Asian financial crisis highlighted the problems existing in the Vietnamese economy but, rather than prompting reform, reaffirmed the government's belief that shifting to a market oriented economy leads to disaster. GDP growth of 8.5% in 1997 fell to 4% in 1998 and rose slightly to an estimated 4.8% in 1999. These numbers masked some major difficulties that are emerging in economic performance. Many domestic industries, including coal, cement, steel, and paper, have reported large stockpiles of inventory and tough competition from more efficient foreign producers. Foreign direct investment has fallen dramatically, from $8.3 billion in 1996 to about $1.6 billion in 1999. Meanwhile, Vietnamese authorities have slowed implementation of the structural reforms needed to revitalize the economy and produce more competitive, export-driven industries. Privatization of state enterprises remains bogged down in political controversy, while the country's dynamic private sector is denied both financing and access to markets. Reform of the banking sector - considered one of the riskiest in the world - is proceeding slowly, raising concerns that the country will be unable to tap sufficient domestic savings to finance growth. Administrative and legal barriers are also causing costly delays for foreign investors and are raising similar doubts about Vietnam's ability to attract additional foreign capital.
GDP: purchasing power parity - $143.1 billion (1999 est.)
GDP - real growth rate: 4.8% (1999 est.)