6 Things to Know about Vietnam’s Economic Development

Vietnam’s economy is steadily growing, with remarkable development following decades of economic reform and strategic investments. Once an underdeveloped nation, Vietnam has significantly reduced poverty. This economic growth is driven by reforms, industrialization, infrastructure development and improved access to education and health care.

Doi Moi

Vietnam implemented the Doi Moi reforms in 1986, transitioning from a strictly communist economy toward a more open market with socialist influences. Before these reforms, the country was considered “underdeveloped.” The Doi Moi reforms modernized Vietnam’s trade economy, setting the foundation for its subsequent economic boom.

Industrialization and Infrastructure Development

Industrialization in Vietnam began in the early ’90s and continues today, driving economic development as the country transitions from a primarily agricultural economy to a more diversified and advanced industrialized one. Vietnam now manufactures products such as cars, electronics and textiles. Between 2020 and now, the country’s manufacturing, construction, services and industrial sectors grew from 81.1% to 85.2%.

Investment in public infrastructure has been one of the fundamental driving forces behind Vietnam’s economic development in recent decades. The country has mainly focused on roads, airports and seaports. Private and public investment in infrastructure has accounted for as much as 5.7% of the gross domestic product (GDP) in recent years. This is the second highest in all of Asia, following China.

Better Access to Education

Since gaining independence in 1945, Vietnam has prioritized education and reduced illiteracy rates. Today, the country places even greater emphasis on improving education. In 2002, the government allocated 3.9% of its GDP to education, which increased to 6.3% by 2014. Vietnam has enhanced access to education by ensuring universal preschool education through public spending and engaging communities and the private sector. The country has also improved learning outcomes, with Vietnamese students outperforming the average students in Organisation for Economic Cooperation and Development (OECD) countries.

In 2012, Vietnamese youth ranked 8th in science, 17th in mathematics and 19th in reading out of 65 countries. The Vietnamese government also prioritizes equity in education, contributing to these high learning outcomes. The central government allocates more funding per capita to geographically disadvantaged provinces and teachers in these areas are paid more than those working in cities. Vietnam’s progress in education has been a critical factor in its ranking of 48 out of 157 countries on the Human Capital Index.

Better Access to Health Care

Along with the economic growth, the health of the Vietnamese people has improved between 1990 and 2020. Life expectancy grew from 69 to 75. The aged than 5 child mortality rate decreased from 30 to 21 per 1000 live births. While the health care system has improved significantly in the past decades, Vietnam stands before an inevitable challenge: it has one of the fastest-growing aging populations in Asia.

Looking Forward

Vietnam’s transition from a centrally planned to a market economy has transformed it from one of the poorest countries in the world into a lower-middle-income nation. Since the Doi Moi reforms, GDP per capita has increased sixfold. Economic growth is projected to reach 5.5% by the end of 2024. Vietnam aims to become a high-income country by 2045, requiring an average annual growth rate of about 6% per capita to achieve this goal.

Vietnam has experienced significant development over the past few decades, with investments in health and human skills playing a central role in this progress and delivering substantial economic benefits. Despite this development, the country faces significant social issues. Vietnam is dealing with an aging population, persistent inequalities in the education sector and ongoing economic effects from the pandemic. Like many other countries, Vietnam’s economy faced a downturn in 2023 due to post-pandemic challenges. However, Vietnam’s economic development is now on the rise again.

– Sigrid Nyhammer

Sigrid is based in Bergen, Norway and focuses on Good News and Politics for The Borgen Project.

Photo: Pexels

https://borgenproject.org/wp-content/uploads/logo.jpg 0 0 Hemant Gupta https://borgenproject.org/wp-content/uploads/logo.jpg Hemant Gupta2024-08-30 01:30:462024-08-29 23:57:02
6 Things to Know about Vietnam’s Economic Development

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2024-08-21

3 NGOs Working to End FGM/C

Global Poverty, Women's Rights

ionIn 90 countries across the developing world, cultures continue to practice female genital mutilation and cutting (FGM/C). FGM/C is the “harmful practice involving the full or partial removal or injury to a girl’s external genitals.” Despite cultural traditions, this is a practice that causes serious physical and psychological harm to more than four million girls yearly and more than 230 million girls and women who continue to experience the consequences of such harm. For these reasons, multiple nongovernmental organizations (NGOs) are working to end FGM/C across the globe.

Global Woman P.E.A.C.E. Foundation

One such organization is the Global Woman P.E.A.C.E. Foundation (GWPF). This foundation believes that FGM/C is a human rights violation and that women across the globe have rights to bodily autonomy and health. In this way, GWPF works to eradicate FGM/C through multiple rehabilitation and prevention projects in West Africa.

On the rehabilitation side, GWPF offers a monthly online support group with a licensed therapist and allocates funds for vaginal restorative surgery for survivors who continue to experience pain years after FGM/C. Prevention-wise, GWPF offers both a scholarship program and a sanitary pad program to keep girls in school, as well as scholarships for boys to educate future generations of fathers and leaders about FGM/C.

GWPF also offers training to educators and law enforcement to recognize and protect at-risk girls, making this organization an important contributor to NGOs working to end FGM/C.

The Orchid Project

The Orchid Project is another one of many NGOs working to end FGM/C. The organization accomplishes this goal through research, knowledge sharing and advocacy. The research of The Orchid Project is a vital tool in increasing data surrounding FGM/C, making information about the practice accessible and helping communities understand what techniques are effective for ending FGM/C.

This research is then applied in Knowledge Sharing Workshops in 12 cities across five African countries, where communities can share experiences and solutions to end this harmful practice. These workshops emphasize a social norms-based approach, as FGM/C continues to be an issue rooted in tradition and culture. The Orchid Project is also an important figure among NGOs working to end FGM/C due to its advocacy work at all levels (from community to global) that focuses on building up resources, policy influence, community support and inclusivity.

Joint Program on the Elimination of FGM

The largest programs designed to end FGM/C are the United Nations Population Fund (UNFPA) and the United Nations Children’s Fund (UNICEF) Joint Program on the Elimination of FGM. This joint program began in 2008 and services 17 countries where FGM/C is a pressing issue. This program works in many ways, including legal frameworks, government involvement, community engagement, services and advocacy outreach to end the practice of FMG/C.

Some notable accomplishments of these programs include 3,200 arrests or legal actions, the prevention of FGM/C for more than 690,000 girls via community surveillance and the participation of more than 4.1 million people in mobilization/education sessions held by the UNFPA-UNICEF Joint Program. While this is a brief overview of the anti-FGM/C work by this program, it is clear that their work is extensive and effective.

Concluding Thoughts

While culture is a valuable part of life for every community, there continue to be unacceptable aspects of many cultures. One such aspect is the cultural practice of FGM/C. It is vital to the health and safety of women and girls that NGOs like the ones mentioned above continue to work to end the practice so that future generations of girls can be free from the physical and psychological pain caused by the practice.

– Carlie Duggan

Carlie is based in Newtown, PA, USA and focuses on Global Health for The Borgen Project.

Photo: Pexels

https://borgenproject.org/wp-content/uploads/logo.jpg 0 0 Hemant Gupta https://borgenproject.org/wp-content/uploads/logo.jpg Hemant Gupta2024-08-21 01:30:242024-08-20 07:52:49