|Population||96 million (2017)|
|GDP at PPP (current international dollars)||647 billion (2017)|
|GDP per capita at PPP (current international dollars)||6,776 (2017)|
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Viet Nam has worked with its GMS partners to increase the productivity of its agriculture sector. The country has prioritized critical reforms that have resulted in steady growth in agricultural output, making Viet Nam the second largest exporter of rice in the world. As in other GMS countries, rural transport and market access have also improved agricultural and rural livelihoods.
Viet Nam seeks to develop its energy resources with better transparency, competition and economic efficiency in order to attract private investment, which will complement public sector investments, and ensure energy supply security for its rapidly growing domestic demand. Viet Nam has worked with its GMS neighbors to benefit from power trading arrangements being developed in the subregion, and on information sharing regarding the exploration, production, and transmission of energy resources. Viet Nam is also expanding electricity access to rural and remote areas, and boosting the share of renewable energy to total energy supply.
Similar to other fast-growing GMS economies, Viet Nam has had to respond to growing pressures on its environment and natural resources. The Government has enacted legislation and launched programs to mitigate the environmental impacts of urban expansion. Viet Nam, in coordination with its GMS partners, has invested in tree planting programs that are showing results in terms slowing the loss of forest cover.
With a large rural and young population that is in need of skills development and training, Viet Nam is seeking to train 27.5 million workers – including 10 million rural workers – by 2020. In coordination with its GMS partners, Viet Nam is focusing efforts on poverty reduction and gender mainstreaming in order to help vulnerable workers benefit from national training programs. As part of its national human resources development work, the country is also strengthening its emphasis on protecting migrant workers, both domestically and across borders.
Viet Nam is sharing knowledge with its GMS partners to develop its fixed and mobile telecommunications systems, as well as Internet service. To promote competition and universal access, the country is promoting more transparent telecommunications licensing procedures and fees (in line with its subregional neighbors), and efficient government regulations. Viet Nam takes part in GMS training programs designed to increase the expertise of officials across the subregion.
Making trade and investment easier between GMS countries is a key priority for Viet Nam. The country has worked with its subregional partners to harmonize and simplify trade and investment procedures.
Viet Nam is a vital link in the emerging subregional transport system of the GMS. It is home to key sections of major GMS corridors, such as the Ho Chi Minh City-Phnom Penh Highway, the East-West Transport Corridor, the Kunming-Haiphong Transport Corridor, and the Southern Coastal Corridor. The country has also embarked on the construction of major expressways to enhance its overall transport efficiency. Viet Nam also hosts important maritime links via its ports. Viet Nam’s fast-growing economy has been a strong contributor to the development of GMS economic corridors that have benefited its own people, and the citizens of neighboring countries.
Mr. Nguyen Hong Dien, Viet Nam’s Minister of Industry and Trade, requested support from Mr. Lu Xinshe, Party Secretary of the Guangxi Zhuang Autonomous Region of the People’s Republic of China (GZAR, PRC), to facilitate cross-border trade between Viet Nam and the PRC by (i) upgrading border gates, (ii) restoring customs services at sealed off border gates, and (iii) extending the operating hours of customs clearance services at border gates, border crossings, and markets.
Cambodia, Lao PDR, and Viet Nam (CLV) Leaders expressed their firm commitment to strengthen the CLV Development Triangle Area (DTA) in order to accelerate economic growth, alleviate poverty, and promote socio-cultural progress in the subregion. At the 11th CLV Summit held online on 9 December, they adopted a Joint Declaration that provides a foundation for the subregion’s socio-economic development plan until 2030 and the Tourism Development Plan. They also adopted the Development Plan for Sustainable Rubber Industry.
Leaders of Cambodia, Lao PDR, Myanmar, Thailand, and Viet Nam adopted the Phnom Penh declaration at the 9th Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS) Summit held on 9 December. The declaration emphasizes post-pandemic socio-economic recovery and preparation for future crises and challenges through public health cooperation and enhanced supply chains. ACMECS leaders stressed the importance of vaccine multilateralism to ensure equitable and safe access to coronavirus disease (COVID-19) vaccines.
While tightened control by Viet Nam and the People’s Republic of China (PRC) in response to the COVID-19 epidemic may have slowed down customs procedures and trade, the two countries continue to work on easing import/export at the border through cooperation and discussions.
Viet Nam is a hazard-prone country. Its 3,260-kilometer coastline is regularly exposed to typhoons, floods, drought, coastal erosion, and landslides. This poses significant threats to roads, embankments, and water supply infrastructure. An estimated 97% of average annual economic losses from natural hazards is caused by flooding.
Agriculture accounts for more than half the workforce in most ADB developing member countries. In the Greater Mekong Subregion, agriculture forms the backbone of its countries’ economies, directly supporting the livelihoods of nearly 200 million people with over 60% of the subregion’s 340 million inhabitants engaged in small-scale agriculture.
A pilot project has developed night markets in selected border towns in the Greater Mekong Subregion (GMS) to take advantage of the economic opportunities opened by infrastructure projects in the area.
A pilot project in the Greater Mekong Subregion explored the use of satellite technology to improve the collection of paddy rice statistics to support better policymaking.
HA NOI, VIET NAM (27 November 2018) — The Asian Development Bank has approved over $100 million in financing to help the Government of Viet Nam install eight modernized irrigation systems in five drought-affected provinces, which will improve agricultural productivity, especially among farmers growing high-value crops such as coffee, peppers, grapes, dragon fruits, and mangoes.
An innovative data fusion technique, which combines two freely available satellite data sources, is used to map paddy area and estimate rice yield in Thai Binh province, Viet Nam.