Vietnam’s Over-reliance on Exports and FDI
Hiep, Le Hong | August 2020
Abstract
The EU-Vietnam Free Trade Agreement (EUVFTA) that came into force on 1 August 2020 is the latest in a string of free trade agreements that Vietnam has concluded to bolster its exports. The EUVFTA’s twin agreement, the EU-Vietnam Investment Protection Agreement (EVIPA), has also been ratified by Vietnam. Once it comes into force, the agreement is expected to attract more European investors into Vietnam, which has already been a favourite foreign direct investment (FDI) destination in the region.
More than 30 years since adopting market-based economic reforms in 1986, Vietnam has turned itself from an isolated pariah state and one of the least developed countries into one of the fastest-growing and most dynamic economies in the world. Vietnam’s success story is unmistakably based on an extraordinary level of economic openness premised upon international trade and investment regimes like the EUVFTA and the EVIPA. But while most attention has been paid to the benefits that Vietnam had gained from its deepening international economic integration, much less has been said of the consequences of Vietnam’s over-reliance on exports and FDI.
Citation
Hiep, Le Hong. 2020. Vietnam’s Over-reliance on Exports and FDI. © ISEAS Yusof Ishak Institute. http://hdl.handle.net/11540/12450.ISSN
2335-6677
Keywords
Macroeconomic
Macroeconomic Analysis
Macroeconomic Framework
Macroeconomic Models
Macroeconomic Performance
Macroeconomic Planning
Macroeconomic Policies
Macroeconomic Reform
Macroeconomic Stabilization
Economic Development
Economic Infrastructure
Economic Policies
Regional Economic Development
Microfinance Programs
Public Finance
Local Financing
Financial Stability
Financial Sector Regulation
Public Financial Management
Financial System
Financial Statistics
Foreign and Domestic Financing
Financial Inclusion
Foreign direct investment
Crisis
Resilience
Enterprises
Financial aid
Economies in transition
Local Finance
Local Government
Insurance Companies
Banks
Social Equity
Pension Funds
Mutual Funds
Financial Aspects
Fiscal Policy
Business cycle
Financial cycle
Financial literacy
Financial safety net
Exports
Social responsibility of business
Accounting
Personal budgets
Cost and standard of living
Bank accounts
Credit control
Regulatory reform
Banks and banking
Digital Financial Service
Pension plans
Individual retirement accounts
Employee pension trusts
Investment management
Investments
Multiemployer pension plans
Keogh plans
Individual retirement accounts
Pension plans
Employee pension trusts
Pension trusts
Investment companies
International banks and banking
Stock exchanges
Remittance
Show allCollapse
Citable URI
http://hdl.handle.net/11540/12450Metadata
Show full item recordRelated items
-
Vietnam’s New Wave of SOE Equitization: Drivers and Implications
Hiep, Le Hong (ISEAS Yusof Ishak Institute, 2017-07-26)This Perspective article reviews Vietnam’s SOE reform over the past 30 years before focussing on its recent efforts to accelerate the equitization and divestment of SOEs as well as the main drivers behind this process. Finally, the article discusses the implications of the process for Vietnam’s economy.This Perspective article reviews Vietnam’s SOE reform over the past 30 years before focussing on its recent efforts to accelerate the equitization and divestment of SOEs as well as the main drivers behind this process. Finally, the article discusses ... -
Vietnam’s Low National Competitiveness: Causes, Implications and Suggestions for Improvement
Le, Quoc Phuong (Korea Institute for International Economic Policy, 2018-04-04)The World Economic Forum’s (WEF) annual assessment using the Global Competitiveness Index (GCI) since 2006 shows that Vietnam’s national competitiveness has been relatively low. Globally, Vietnam has been in the middle of economies surveyed. Regionally, Vietnam has been in the middle of ASEAN countries. Regarding level of development, before 2015 Vietnam was in stage 1 (factor-driven), which includes ...The World Economic Forum’s (WEF) annual assessment using the Global Competitiveness Index (GCI) since 2006 shows that Vietnam’s national competitiveness has been relatively low. Globally, Vietnam has been in the middle of economies surveyed. Regionally, ... -
Reviewing Vietnam’s Economic Reforms since the CPV’s Twelfth Congress
Hiep, Le Hong (ISEAS Yusof Ishak Institute, 2017-01-05)This essay provides an initial assessment of the efforts by Vietnam’s new government to fulfil such a mandate. It argues that contrary to the public’s uncertainty about his policy inclinations before the CPV’s Twelfth Congress, PM Phuc has proven to be an active, reform-minded, and business-friendly leader. Various measures to resolve legacy problems left by the previous administration and to improve ...This essay provides an initial assessment of the efforts by Vietnam’s new government to fulfil such a mandate. It argues that contrary to the public’s uncertainty about his policy inclinations before the CPV’s Twelfth Congress, PM Phuc has proven to ...