VINACHEM

The Vietnamese economy has expanded 7.8 times since the country regained national independence in 1975, the Government news portal reported.

The economy posted a continuous growth since 1981 and the GDP per capita increased from US$86 in 1980s to US$1,899 in 2013.

Vietnam shifted from centrally-planned to market-based economy and has increasingly integrated into the global community.

Investors from 90 countries and territories have poured some US$270 billion and the disbursed volume reached US$114 billion. The FDI sector accounts for around 45% of Vietnam’s industrial production value and 20% GDP.

International friends have pledged to grant some US$81 billion in official development assistance (ODA) to Vietnam and over half of the total figure has been disbursed.

At present, Vietnam has set up trade relations with around 200 countries and territories with the aggregate trade value amounting to over US$264 billion.

The economy, however, is facing a number of big challenges, especially in terms of growth quality, investment efficiency, and productivity, the news portal added.