|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.
HA NOI, VIET NAM (12 December 2018) — The Asian Development Bank and Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), the country’s largest commercial bank by assets, today signed a $300 million loan agreement to support the growth and productivity of small and medium-sized enterprises in Viet Nam.
HA NOI, VIET NAM (12 December 2018) — The Asian Development Bank has approved a $188 million loan to improve and upgrade 198 kilometers of roads in Viet Nam’s mountainous northwest region, which has the highest poverty rate in the country.
HA NOI, VIET NAM (10 December 2018) — The Asian Development Bank has approved a $45 million loan to help Viet Nam transform secondary towns into more economically inclusive, competitive tourism destinations.
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.
Germany and the European Union have renewed their support to strengthen transboundary water cooperation in the Greater Mekong Subregion.
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.
The Asian Development Bank has approved technical assistance for energy projects in Southeast Asia, including the Greater Mekong Subregion Cross-Border Power Trade and Distribution Project.
Japan and the five Southeast Asian countries of the Greater Mekong Subregion adopted the Tokyo Strategy 2018 at the 10th Mekong-Japan Summit Meeting in Tokyo on 9 October.
A young businesswoman offering motorcycle tours led by women is one of the entrepreneurs supported by a tourism accelerator program in the Greater Mekong Subregion.
HA NOI, VIET NAM (26 September 2018) — Viet Nam’s economy continued to perform strongly in the first half of 2018, although external and domestic challenges could affect the country’s growth outlook for this year and next, says a new Asian Development Bank report.