Discussion 1: Unit 6

1.
Early this September, the World Economic Forum on ASEAN 2018 has been held
in Hanoi, Vietnam, on September 11 – 13, 2018. Among country member,
Vietnam stood out as one of the stars of the emerging markets universe. Economic
growth, market openness, opportunities for investments has been the success of
this country in preparation for the Era of IR 4.0
For that, I think the most outstanding points in current Vietnam economic situation
is the economic growth.
Just 30 years ago, Vietnam’s economy was one of the poorest in the world, and
growth in this centrally planned economy was rather dim – per capita GDP was
stuck between $200 and $300. But then, in 1986, the government introduced “Đổi
Mới”, a series of economic and political reforms, and steered the country to
becoming a “socialist-oriented market economy”.
Today, Vietnam’s economic growth of 6-7% rivals China, and it exports are worth
as much as the total value of its GDP.
With such rapid economic growth, a forecast by PricewaterhouseCoopers said that
Vietnam may be the fastest-growing of the world's economies, with a potential
annual GDP growth rate of about 5.1%, which would make its economy the 20th-
largest in the world by 2050.

2.
With advantages of great natural resources, Vietnam is one of the fastest
developing country getting started from agriculture. Agriculture in Vietnam is still
doing well and it is one of the spear economic sectors in Vietnam, mainly
contributing the economic development of Vietnam.
In 2009, the value of agricultural output reached 71.473 trillion (compared with
1994’s price), increased by 1.32% in comparison to that in 2008, and accounted for
13.85% of the total domestic product.
The contribution of agriculture in creating jobs is greater than its contribution in
Vietnam GDP. In 2005, approximately 60% of the workforce was employed in
Vietnam agriculture, forestry, and fisheries. Agricultural production accounts for
about 30% of exports in 2005. The liberalization of production in agriculture,
especially rice production in Vietnam helps Vietnam be the world leading country
of rice exporter (in 2013).
Currently, agriculture of Vietnam is developed in both quantity and quality to meet
the demand of global market. Vietnamese government also encourage agricultural
to participate in international fairs more to promulgate the quality of Vietnam
agricultural products to the whole world. In the context of integration, Vietnam
increasingly defines its strategic role in world agriculture.