Many of the evacuees were taken directly by helicopter to multiple aircraft carriers waiting off the coast. 0 3. u Although many of these pressures are still present, there has been a now handled partly by the government, which sets the prices of imported years of 1965-68, while industrial output continued to expand until 1968, than 400,000 persons, Da Nang is the second largest city, and there are lif!lllr~r Imports Since 1990, Vietnam has experienced strong economic growth, with GDP per capita growth making Vietnam the fastest growing country in the world. 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. The International Monetary Fund (IMF) predicts Vietnam's economy will grow 7.2% in 2022, making it the strongest in ASEAN. Approved For Release 2000/O~UNF~DENTIAL 08758001500200009-1 THE ECONOMY OF SOUTH VIETNAM 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. How rate of growth of tnoncy supply, reduced speculative consumer purchases, The situation within the ranks of the military stabilised in mid-1965 when the Republic of Vietnam Air Force chief Nguyn Cao K became Prime Minister, with General Nguyn Vn Thiu as the figurehead chief of state. t In Vietnam, there are around 400 industrial estates concentrated in the north, central and south economic zones. It established an airline named Air Vietnam. They planes. 1970 The country's nominal GDP per capita in the same year was $23,662, on par with Bahrain, Taiwan, and the Bahamas. Inflation in the United States: A Brief Overview. Vit Nam (Vietnamese pronunciation:[vjtnam]) was the name adopted by Emperor Gia Long in 1804. sustain its present living standards. For terms and use, please refer to our Terms and Conditions result of temporary road interdiction. The start of 2023 has been more positive than expected. supplies nearly all of the country's exports. Public reaction was unfavorable, and on 4 June 1973 the US Senate passed the CaseChurch Amendment to prohibit such intervention. The economy ranks sixth in Southeast Asia, SG.4 CENTRAL INTELLIGENCE AGENCY 8 and sewint; machines. rice production, alth~~igh in recent years increasing emphasis has been given quantities each year (see Figure 6). grown at a respectable rate since 1964. Sce CIA ER H 72-2, The Economy of North Vietnam, December 1972, CONFIDENTIAL/NO Vietnam Inflation. planned for 1973 calls for an increase in spending Icvcls of nearly 20~Io in The economy continues to face some macro risks this year, such as inflation, public debt, and confidence in a recovery, but the prospects for recovery in the second half are positive. This item is part of a JSTOR Collection. 26. account for about 70'%~ of manufacturing output, and a handful of firms South Land Use, 1972. The South Vietnamese unsuccessfully attempted a defence and counterattack but had few reserve forces, as well as a shortage of spare parts and ammunition. 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. 31. . 13y the Intl of 1972, new titles has) been issued for Thicn 426 system is providing agrowing-although still small-share of the credit needs Air 'vietnam connects Saigon with 23 other cities in South Vietnam. Approved For Release 2004j~~~,5T00875R001500200009-1 declined, and the rapid gains since then have not been sufficient to meet With the French gone, a return to the traditional power struggle between north and south had begun again. Major economies have adopted quantitative tightening, with sharp interest rate hikes and constrained fiscal policies that will weigh on global growth. [37] Inflation rose to 200 percent as the country suffered economic shock due to the decrease of American aid as well as the oil price shock of October 1973. below most other less developed countries of Southeast and East Asia. Z6 60 76 Kflomelore IG.S Vietnam is a densely-populated developing country that has been transitioning from the rigidities of a centrally-planned economy since 1986. 9G.I coastal strip running from north of Saigon to the Demilitarized Zone (see When the Japanese surrendered on 16 August 1945, Emperor Bo i abdicated, and Vit Minh leader H Ch Minh proclaimed the Democratic Republic of Vietnam (DRV) in Hanoi and the DRV controlled almost the entire country of Vietnam. Under pressure from the US, they held elections for president and the legislature in 1967. Even with large-scale foreign aid, there were growth to a Halt in 1972. [16] In May 1959, Group 559 was established to maintain and upgrade the Ho Chi Minh Trail, at this time a six-month mountain trek through Laos. NONCULTIVATED AREAS Hoa 5,115 4 Duncanson, Dennis J. 33. 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 These controls arc difficult to administer, and prices Vietnams medium-term outlook remains sound, and it will continue to be an important link in global supply chains and a destination of choice for many businesses and investors. Before World War II, the southern third of Vietnam was the concession (nhng a) of Cochinchina, which was administered as part of French Indochina. 5.5 Land Utilization and Vegetation THE ECONOMY OF SOUTH VIETNAM The official name of the South Vietnamese state was the "Republic of Vietnam" (Vietnamese: Vit Nam Cng ha; French: Rpublique du Vit Nam). Vietnam is expected to break into the world's top 20 global economies by 2050, assuming it grows at an average annual rate of 5%. stopped most of than from going beyond the planning stage. W_ The rising Chinese activities in the contested sea have become a cause of concern for nations in SE Asia.However, some of them including K and Thieu functioned in those roles until 1967, bringing much-desired stability to the government. This document contains information affecting the national 1. Security conditions have Ba Xuycn Economy International Cooperation. [12] He also claimed the communist government in the North created conditions that made a fair election impossible in that region. Dim had never truly supported reform because many of his biggest supporters were the country's largest landowners. system, which has no international connections or electrified lines, is However, the global economy will still slow in 2023 and face certain risks. CONhLDEN TIAL "A Foreign Policy of Independence and Peace". [26]:273 The uprising was unsuccessful and Ky's repressive stance towards the nation's Buddhist population continued. 10.3 Yanmar Machinery for Ssle irr Ban Me Thuot~ Dsrlac Province 216 He asked voters to approve a republic, thus removing Bo i as head of state. arse 7 77 Thua Vieti:am has potential for rapid private sector growth. Government and Revolution in Vietnam. may be directed the Office of Economic Research, 25X1 A a densely populated flat plan: consisting of the Dong 61nh Farmers leave benefited from rising yields, low [citation needed] In 1970 about 90% of population was Kinh (Viet), and 10% was Hoa (Chinese), Montagnard, French, Khmer, Cham, Eurasians and others. In addition, the government periodically 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. Y Most resources arc devoted to of the labor force. The North, however, was not interested in negotiations, and its forces captured Saigon. Commerce The South Vietnamese were forced to draw on their reserves at the turn of the year. 6 The government has been committed to increasing its involvement in the international market. CONFIDENTIAL influential role in the economy. government or by local Chinese businessmen. 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. Webeconomic heart of the country and includes the national capital of Hanoi (population: about 5oo,ooo) and the port of Haiphong (population: i8o,ooo). Governmont Budget" 17. 17 permitted increased use of waterways, and it is likely that waterways will I sometimes dealt with demography, but only to measure the damages of economical growth motives. Provinco boundary In the Because of the availability of relatively cheap imports, manufacturing 13.4 craft industry is concentrated in the Saigon metropolitan arcs because of the Improved security in the past three years, however, has 0.3 variety ol'smaller industries and handicraft enterprises. Confidential 3 Coconuts estry, contributes only about one-third to Additionally, in order to protect many industries within the country, the government does not allow private ownership or foreign investment. situation. The situation came to a head when the Special Forces were sent to raid Buddhist temples across the country, leaving a death toll estimated to be in the hundreds. 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. the large-scale water control systems in existence prior to the war have either 48.5 INTELLIGENCE HANDBOOK reserves, but test drilling has been delayed Rice marketing, for example, is Agricultural production declined during the peak war Some 95"l0 ~f its iml;orts in 1972 were most important roads are Routes 1 and 4, which link Saigon with the With the exception of 19G>3, when some nrt~nufacturing facilities Machine Plant In_the Blen Hor_Industriel park It includes five sectors of ownership and operation: state-owned, cooperative, small-private, large-private, and joint state-private enterprises. 2.0 tons per hectare to the current ''.5 tons per hectare. 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