Vietnam is an innovation nation, well placed to seize the opportunities of an increasing digital future, leveraging its core strengths in
The economy of Vietnam is a developing mixed socialist-oriented market economy, which is the 36th-largest in the world as measured by nominal gross domestic product (GDP) and 26th-largest in the world as measured by purchasing power parity (PPP) in 2022.
Vietnam ranked 44/132 in the Global Innovation Index in 2021 with more than 18,500 scientific and technological discoveries, a 2.5 per cent increase compared to the previous year. Minister of Science and Technology Huynh Thanh Dat said investment in Vietnamese tech start-ups hit a record high of US$1.3 billion in 2021.
The World Bank In Vietnam. Vietnam's shift from a centrally planned to a market economy has transformed the country from one of the poorest in the world into a lower middle-income country. Vietnam now is one of the most dynamic emerging countries in East Asia region.
Vietnam ranked 48 out of 132 economies in the Global Innovation Index 2022 by the World Intellectual Property Organization (WIPO). The country performed well in many aspects of technology and FDI, yet indicating that there is still room for improvement in other areas.
Despite its status as a developing country, Vietnam has a good standard of public education and a literacy rate of 96 percent.
Vietnam is ranked 19 of 145 out of the countries considered for the annual Global Firepower review. The nation holds a Power Index score of 0.2855 with a score of 0.0000 being considered exceptional in the GFP assessment.
The United States, Canada, Japan, South Korea, Western European nations and their allies represented the "First World", while the Soviet Union, China, Cuba, North Korea, Vietnam and their allies represented the "Second World".
Australia has a highly developed market economy and one of the highest per capita incomes globally. Australia is a regional power, and has the world's thirteenth-highest military expenditure.
Seek a rustic and authentic experience: Vietnam is less developed than Thailand. Natural scenery, ethnic charm, and ancient towns are the main highlights.
Ho Chi Minh City went by several different names: the French figuratively put it “Pearl of the Far East”, the American named it “Saigon” and the Chinese called it “Cho Lon”. Ho Chi Minh City is the most modern and bustling city of Vietnam.
Since Vietnam has large number of populations by most young generation is in labor force, the population growth rate is estimated to be the highest growth among ASEAN countries in the next 5-6 years and it makes the domestic market a high potential for highly growing.
Vietnam's quality of life index in 2021 is 78.49 points, holding the position of 62/165 countries on the ranking of the world's best quality of life index of CEOWORD.
China has a GDP per capita of $16,400 as of 2020, while in Vietnam, the GDP per capita is $8,200 as of 2020.
Vietnam Economy
Is Vietnam a wealthy country? Vietnam is a densely populated developing country that has been transitioning since 1986 from the rigidities of a centrally planned, highly agrarian economy to a more industrial and market based economy, and it has raised incomes substantially.
At the moment, a US$100 roughly equals VND 2,485,000. Most touristy places provide foreign exchange services, such as Hanoi, Da Nang, Ho Chi Minh City, Phu Quoc, Nha Trang, Hoi An, etc.
Australia is a highly developed country with a mixed economy. As of 2023, Australia was the 13th-largest national economy by nominal GDP (gross domestic product), the 19th-largest by PPP-adjusted GDP, and was the 20th-largest goods exporter and 24th-largest goods importer.
Examples of first world countries include the United States, Canada, Australia, New Zealand, and Japan. Several Western European nations qualify as well, especially Great Britain, France, Germany, Switzerland, and the Scandinavian countries.
On a mean wealth basis, Australia was the fourth-richest country in 2021 behind Switzerland, the US and Hong Kong.
After years of institutional and economic reform, Vietnam's poverty rate declined rapidly. In 1990, Vietnam was among the world's poorest countries with a GDP per capita of $98.
For instance, Vietnam's GDP per capita is higher than India's. Meanwhile, Vietnam's debt-to-GDP ratio (percent) is significantly lower than India's, indicating a lower level of foreign dependence.
The term Third World was originally coined in times of the Cold War to distinguish those nations that are neither aligned with the West (NATO) nor with the East, the Communist bloc. Today the term is often used to describe the developing countries of Africa, Asia, Latin America, and Australia/Oceania.
Vietnam has forged comprehensive strategic partnerships — the highest diplomatic designation — with China, India, Russia, and, most recently, South Korea. Many of Vietnam's strategic partners are U.S. allies, such as Japan, Australia, and the United Kingdom.
America did not experience a “lost victory” in Vietnam; in fact, victory was likely out of reach from the beginning. There is a broad consensus among professional historians that the Vietnam War was effectively unwinnable.
Vietnam. Vietnam recorded the fourth largest improvement in peacefulness on the 2021 GPI, improving by 5.3%. This improvement meant that Vietnam jumped 19 places in the overall rankings, and is now ranked 50th overall. It is the tenth most peaceful country in the Asia-Pacific region.