Int’l economic achievements highlighted – News – Investment

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The Hanoitimes – Viet Nam has witnessed outstanding achievements in international economic integration particularly since 1995.

International economics consist of different fields including import, export, outward investment, foreign arrivals and overseas remittances.

Average exports per capita surged from US$11.7 in 1985 to US$36.4 in 1990; US$186.6 in 2000; US$393.8 in 2005; US$830.5 in 2010; US$1291 in 2012. It is forecast to touch US$1450 in 2013. Accordingly, the 2013 figure would 124 times higher than that of 1985.

Growth rate of export against GDP also rose strongly from 5% in 1985 to 26.2% in 1995; 4.4% in 2000; 61.1% in 2005; 64.7% in 2007 and would possibly reach over 75%. The current data was higher than that of South East Asia, marked a three-fold rise against that of Asia and was ranked 5th in the world.

Rice, coffee, pepper, peanuts, aquaculture, garments and textiles, footwear, furniture are among the biggest export hard currency earners and have earned high positions in the global market. Recently, high-tech commodities such as mobile phones, computers, electronic spare parts and cameras have entered the list of high hard currency earners.

So far, made-in-Viet Nam products are available in around 200 foreign countries and territories especially the US, Japan, China, the Republic of Korea, Germany, Malaysia, Australia, Singapore, and the UK. Noticeably, service export picked up from US$4.3 billion in 2005 to US$7.5 billion in 2010 and US$9.6 billion in 2012.

The inflows of FDI, ODA and FII gained positive outcomes. The amounts of FDI registration and disbursement were US$259 billion and US$107.8 billion, respectively between 1988 and August 2013. Over 80 foreign countries and territories have set footholds in Viet Nam of which 16 have poured in over US$1 billion of investment.

So far, the country has got ODA commitments of US$76 billion and disbursed US$39 billion. In the January-August period of 2013, around US$2.74 billion was disbursed, up 8.7% against the same period last year.

In the 1989-2012 period, 729 outward investment projects valued US$15.1 billion in 23 countries and territories.

The number of international visitors to Viet Nam increased constantly through years. Viet Nam is expected to welcome over 7.3 million foreign arrivals by the year end and gain US$7.5 billion in revenue.



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