| Land Area |
331,690 |
| Population |
Approx. 82.0 million
(2004 Provisional) |
| Capital |
Hanoi |
| Political System |
Socialist Republic |
| Major Languages |
Vietnamese |
| Major Religion |
Buddhism(Approx. 70%) |
| Currency |
Dong |
|
|
Flag Description:
Red represents the blood that was shed during the revolution and the summit of the 5 peaks of the yellow star represents the unity of workers, farmers, intellectuals, youths and soldiers.
Realization of economic growth through introduction of market economy and liberalization
Vietnam is a multi-ethnic country comprising about 55 minority groups. About 60% of its workforce is now engaged in agriculture. However, the government has adopted the market economy system and is moving forward with its "Doi Moi" policy, which is a renovation policy aiming to liberalize trade with foreign countries. With a high growth rate fluctuating around the 7% mark brought by this policy, Vietnam has been achieving an exceptional economic growth. During the Asian economic crisis of 1997, the volume of direct investment from foreign countries plummeted and the economy underwent a period of stagnation. But today, the economy is on an upward swing toward recovery. Vietnam has a long history of exchange with Japan; one example is a Japantown that existed in 16th Century Hoi An in central Vietnam. Year 2003 marked the 30th anniversary for establishment of diplomatic relations with Japan. |
