Political parties and leaders:
only party - Communist Party of Vietnam or CPV [Nong Duc Manh,
general secretary]
Political pressure groups and leaders:
none
International organization participation:
ACCT (observer), APEC, ARF, AsDB, ASEAN, CP, FAO, G-77, IAEA, IBRD,
ICAO, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM
(observer), ISO, ITU, MIGA, NAM, OPCW, UN, UNCTAD, UNESCO, UNIDO,
UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WToO, WTO (observer)
Diplomatic representation in the US: chief of mission: Ambassador Nguyen Tam Chien chancery: 1233 20th Street NW, Suite 400, Washington, DC 20036 consulate(s) general: San Francisco FAX: [1] (202) 861-0917 telephone: [1] (202) 861-0737
Diplomatic representation from the US: chief of mission: Ambassador Michael W. MARINE embassy: 7 Lang Ha Road, Ba Dinh District, Hanoi mailing address: PSC 461, Box 400, FPO AP 96521-0002 telephone: [84] (4) 772-1500 FAX: [84] (4) 772-1510 consulate(s) general: Ho Chi Minh City
Flag description: red with a large yellow five-pointed star in the center
Economy Vietnam
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 in the Vietnamese economy,
but rather than prompting reform, reaffirmed the government's belief
that shifting to a market-oriented economy would lead to disaster.
GDP growth of 8.5% in 1997 fell to 6% in 1998 and 5% in 1999. Growth
then rose to 6% to 7% in 2000-02 even against the background of
global recession. These numbers mask some major difficulties 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. Since the Party elected new leadership in 2001,
Vietnamese authorities have reaffirmed their commitment to economic
liberalization and have moved to implement the structural reforms
needed to modernize the economy and to produce more competitive,
export-driven industries. The US-Vietnam Bilateral Trade Agreement
entered into force near the end of 2001 and is expected to
significantly increase Vietnam's exports to the US. The US is
assisting Vietnam with implementing the legal and structural reforms
called for in the agreement.
GDP:
purchasing power parity - $203.7 billion (2003 est.)
GDP - real growth rate:
7.2% (2003 est.)