Vietnam

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Coat of arms: the emblem of Vietnam is circular, has red background and a yellow star in the middle which represent the Communist Party of Vietnam, the revolutionary history and bright future of Vietnam. The cog and crops represent the cooperation of agriculture and industrial labor.

The National Emblem is circular in shape; in the middle of a red background is a fivepointed gold star framed by rice ears below which is half a cog wheel and the inscription «Socialist Republic of Vietnam».

Flag: was designed in 1940. Red symbolizes the goals of social revolution behind the Vietnamese, national uprising. The star represents the five main classes in Vietnamese society — intellectuals, farmers, workers, businesspeople and military personnel.
 
  • Anthem: «Tiến Quân Ca» is the national anthem of Vietnam, both written and composed by Văn Cao in 1944. It was adopted as the national anthem of North Vietnam in 1945, and was adopted as the national anthem of the new Socialist Republic of Vietnam in 1976.
  • Official languages: Vietnamese.
  • Geographical location: is the easternmost country on the Indochina Peninsula. Vietnam is bordered by China to the north, Laos to the northwest, Cambodia to the southwest, Thailand across the Gulf of Thailand to the southwest, and the Philippines, Malaysia and Indonesia across the South China Sea to the east and southeast.
  • Administrative divisions: Vietnam is divided into 58 provinces. There are also five municipalities, which are administratively on the same level as provinces.The provinces are subdivided into provincial municipalities, townships and counties, which are in turn subdivided into towns or communes. The centrally controlled municipalities are subdivided into districts and counties, which are further subdivided into wards.
  • Capital: Hanoi.
  • Governance: Vietnam is a unitary Marxist-Leninist one-party socialist republic, one of the two communist states (the other being Laos) in Southeast Asia. Under the constitution, the Communist Party of Vietnam (CPV) asserts their role in all branches of politics and society in the country. The President is the elected head of state and the commander-in-chief of the military, serving as the Chairman of the Council of Supreme Defence and Security, holds the second highest office in Vietnam as well as performing executive functions and state appointments and setting policy. The Prime Minister is the head of government, presiding over a council of ministers composed of five deputy prime ministers and the heads of 26 ministries and commissions. The National Assembly of Vietnam is the unicameral legislature of the state, composed of 498 members. The legislature is open to all parties. Headed by a Chairman, it is superior to both the executive and judicial branches, with all government ministers being appointed from members of the National Assembly. The Supreme People's Court of Vietnam, headed by a Chief Justice, is the country's highest court of appeal, though it is also answerable to the National Assembly. Beneath the Supreme People's Court stand the provincial municipal courts and numerous local courts. Military courts possess special jurisdiction in matters of national security.
  • Population: 96 million. 
  • Currency: đồng.
  • GDP: $215.9 billion.
  • Time zone: GMT +7.
  • Telephone code: +84.
  • Barcode: 893.

 

Trade and economic cooperation between Belarus and Vietnam

Vietnam's economic performance in 2017:

  • Nominal GDP — $215.9 billion;
  • GDP per capita — $2 307 thousand;
  • Inflation — 3.5%;
  • Foreign debt — $91.8 billion;
  • Exports — $213.8 billion;
  • Imports — $211.1 billion;
  • Vietnam's most valuable export products are mobile phones, electronics, textile products, footwear, wooden articles, machinery and equipment, fish and seafood, rice, pepper, coffee, nuts;
  • Vietnam's most valuable import products are machinery and equipment, electronics, raw materials for light industry, metals, processed petroleum oils.

Vietnam is a member of the World Trade Organization, so it follows WTO rules and standards. 

A preferential tariff is applied to the goods, imported from the countries, with which Vietnam has the most favoured nation treatment (the tariff may be from 0% to 150%). Specific privileges are applied within the regional economic organizations (ASEAN) or to the countries, with which Vietnam has sign the corresponding agreements.

The Free Trade Agreement between the Eurasian Economic Union and the Socialist Republic of Vietnam came into operation on October 5, 2016. It stipulates trade liberalization between the EAEU-members and Vietnam. The import customs duties on most goods, specified in the inventory annexed to the Agreement, have been reduced or eliminated. At the same time, the Parties retain tariffs on a number of very sensitive items.

Vietnam is an important and trusted partner of Belarus in Southeast Asia. A preferential tariff is applied to the goods, imported from the countries, with which Vietnam has the most favoured nation treatment (the tariff may be from 0% to 150%).

Dynamics of trade between Belarus and Vietnam (in million U.S. dollars)

Years

Turnover

Exports

Imports

Surplus

2013

185.0

145.4

49.6

95.8

2014

169.9

108.5

60.8

47.8

2015

149.9

111.5

38.3

73.2

2016

121.0

76.8

44.2

32.6

2017

135.3

76.3

59.0

17.3

January — May 2018

53.9

33.1

20.8

12.3

January — May 2018 as compared to January — May 2017, %

113.1

118.3

105.7

 

Belarus's most valuable products, imported by Vietnam:

  • Potassic fertilizers;
  • Trucks and parts thereof;
  • Tractors;
  • Mining dump trucks;
  • Tyres;
  • Polyamides;
  • Special purpose goods;
  • Bearings;
  • Engines;
  • Medicaments;
  • Metal products;
  • Meat and dairy products;
  • Spirits.

Vietnam's most valuable products, imported by Belarus:

  • Nuts;
  • Rubber;
  • Electronic circuits;
  • Rice;
  • Fish and seafood;
  • Coffee.

Belarus considers Vietnam as a «gateway» to Southeast Asia and is willing to supply the jointly manufactured goods, such as engineering and agricultural products, vehicles, chemical and dairy products to the neighboring countries, in particular, to 10 member-states of the Association of Southeast Asian Nations (ASEAN) with population of 600 million people.

An important area of cooperation is exploration and mining of mineral resources. The joint projects in agriculture and energy are considered to be another priority as well.

Belarus seeks to export more products to Vietnam. It may supply electronics, petrochemical and metal products, cosmetics, pharmaceutical products, furs, meat and dairy products, confectionery, malt and others.

 

This article has been prepared on the basis of information provided by the National Centre for Marketing and Price Study of the Ministry of Foreign Affairs, and the Embassy of the Republic of Belarus in Socialist Republic of Vietnam, and taken from public sources. The information presented herein is for informative purposes only. In this regard, it may be useful for the companies, which have been working in Vietnam for a long time, as well as for those, which are going to enter this market. Any questions, feedbacks and comments concerning this article are welcome. All of them will be fully considered and taken into account, if possible. If you have any information that may be interesting and useful for the visitors of this page, please write to us.

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