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1 PRESENTATION OF H.E. AMBASSADOR NGUYEN XUAN LUU ECONOMIC FORUM CLUB Bratislava, 20 June 2013

PRESENTATION OF H.E. AMBASSADOR NGUYEN XUAN LUU ECONOMIC FORUM CLUB Bratislava, 2 0 June 201 3

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PRESENTATION OF H.E. AMBASSADOR NGUYEN XUAN LUU ECONOMIC FORUM CLUB Bratislava, 2 0 June 201 3. Viet N am. Part I: Overview of Vietnam Part II: Main economic achievements of Vietnam in recent years Part III: Some aspects of Vietnam - Slovakia economic and trade relations - PowerPoint PPT Presentation

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Page 1: PRESENTATION  OF H.E. AMBASSADOR NGUYEN XUAN LUU ECONOMIC FORUM CLUB Bratislava, 2 0 June  201 3

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PRESENTATION

OF H.E. AMBASSADOR NGUYEN XUAN LUU

ECONOMIC FORUM CLUB

Bratislava, 20 June 2013

Page 2: PRESENTATION  OF H.E. AMBASSADOR NGUYEN XUAN LUU ECONOMIC FORUM CLUB Bratislava, 2 0 June  201 3

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Viet Nam Part I: Overview of Vietnam

Part II: Main economic achievements of Vietnam in recent years

Part III: Some aspects of Vietnam - Slovakia economic and trade relations Recommendations to promote economic cooperation between the two countries

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I. Overview of VietnamArea: 331,051.4 km2Bordering: China (North),

Laos, Cambodia (West), East Sea (East)

Population: 88,780,000 (2012), 54 ethnic groups, multi religions

Capital: Hanoi with 6.7 mn

Business Center: HCM City, 7.5 mn

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Hanoi Capital

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Hue City

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Ho Chi Minh City

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Ha Long Bay

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Overview of VietnamVietnam is gateway of Southeast Asia and North-

East Asia countries, a geopolitical location conducive to intergration and economic cooperation with other countries

Security, political stabilityViet Nam-active member of international

organizations in the region and world. Market is growing faster and more uniform

(economic reform – renovation) Abundant young workforce, 70% of the population

under 40 years old, skilled and good education system conductive to economic development.

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II. Main economic achievements of Vietnam in recent years

Renovation achievementsEconomic reform (Doi Moi - Renovation) from 1986Sustain high and stability economic growth for

years, - GDP growth average 7.5% during 2001-2005, 7%

between 2006-2010 and 5.03% in 2012 - GDP 2012 total: USD 136 bn; Agriculture: 21% GDP,

Industry: 41% and Service: 38%; corresponding structure in 1991: 41%, 24%, 35%.

- GDP per capita in 1986: 100 USD, 2012: 1,540 USDViet Nam joined the middle-income countries

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GDP growth in 2010-2012 at relatively high level

0123456789

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

GDP

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Regional and International Integration:- Motto: Vietnam is a friend and reliable partner of all countries in the international community - Diplomatic relations with over 180 countries. Trade-investment relations with more 200 countries and territories

- Member of ASEAN, APEC, UN, WTO …

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Export and Import Import-export

turnover increase 15-20%/ yearIn 2012, exports reached USD 115 bn, up 18% compared with 2011

Imports reached USD 114 bn, up 7% compared with 2011

Opening of economy is high: im-ex/GDP: 170%

0102030405060708090

100110120

2009 2010 2011 2012

ExportImport

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Goods export market in 2012

EU: USD 20 bn, 17% of total exports

United States: USD 20 bn, 17%

ASEAN: USD 17 bn, 15%

Japan: USD 13 bn, 11%

China: USD 12 bn, 10%

0

5

10

15

20

25

US

EU

ASEAN

CHINA

JAPAN

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Main export goodsTextiles & garments: USD 15 bn, up

7% in 2012 Phone & accessories: 12.6 bn, up

97% Crude oil: USD 8.5 bn, up 16%Electronic & computer: 8 bn, up 70%Footwear: 7 bn USD, up 11% Aquatic products: USD 6 bn, up 1%Machinery, equipment, tool & spare

parts: USD 5.5 bn, up 27%Wood & wood products: USD 4.6

bn, up 17% Vehicles & parts: USD 4.5 bn, up

30%Rice: USD 3.7 bn, Coffee: USD 3.7 bn, Rubber: USD 2.8 bn,

0

2

4

6

8

10

12

14

16Textiles andgarmentsCrude oil

Phone &accessoriesFootwear

Aquatic products

Electronic &computer Machinery parts

Wood products

Rice

Rubber

Coffee

Vehicles & parts

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Vietnam is the world leader in exports of black pepper, cashew nuts.

Second place in exports of rice, coffee.

Third place in exports of natural rubber.

Top 10 place in exports of seafood.

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Goods import marketChina: USD 29 bn, 25%

of total importsASEAN: USD 21 bn, 18%South Korea: USD 15.6

bn, 14%Japan: USD 12 bn, 10%EU: USD 8.8 bn, 8%United States: USD 4.7

bn, 4% 0

5

10

15

20

25

30

CHINA

ASEAN

SOUTHKOREAJAPAN

EU

US

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Main import goodsElectronic, computer &

accessories: USD 13 bnMachinery, equipment, tools,

spare parts: USD 16 bnPetroleum: USD 9 bnFabric: USD 7 bnSteel: USD 6 bnPhone & accessories: USD 5

bnPlastics: USD 5 bnRaw materials for textile,

wear, footwear: USD 3 bnChemicals and Chemical

products: USD 5 bn0

2

4

6

8

10

12

14

16Machinery, equipment,tool, spare partsPetroleum

Fabric

Plastic

Raw materials fortextile, wear, footwear Chemicals

Chemical products

Animal feed & rawmaterialsElectronic

Steel

Phone & accessories

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Foreign investment(Law adopted in 1988)

FDI in 2010: USD 18.6 bn In 2011: USD 14.7 bn In 2012: USD 13 bnAs of 5/2013: USD 217

bn, 14,918 investment projects from 100 countries and territories

Value (Billion USD)

Projects

Countries,

territories

2010 18.6 1,237 55

2011 14.7 1,465 53 2012 13.0 1,535 58 As of 5/2013

217 14,918 100

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Top five countries FDIAs of 5/2013Japan: USD 32 bn, 1,959

projects Taiwan: USD 27 bn, 2,249

projects Singapore: USD 27 bn, 1,154

projectsSouth Korea: USD 25 bn, 3,302

projectsBritish Virgin Islands: USD 15

bn, 511 projects

0

5

10

15

20

25

30

35

Japan

Singapore

South Korea

Taiwan

BritishVirginIslands

0

500

1.000

1.500

2.000

2.500

3.000

3.500Japan

Singapore

South Korea

Taiwan

BritishVirginIslands

Projects

Value

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FDI of Viet Nam in abroad: Up to 3/2013, Vietnam had 742

investment projects abroad with a total registered capital of USD 15.5 bn in many countries and territories.

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Official Development Aid (ODA)

ODA record USD 7.9 bn in 2010, 7.4 bn in 2011 and 6.5 bn in 2012.

As of 2012, about USD 37 bn ODA disbursed since 1993.

The major ODA donor: WB, ADB, EU, France, Germany, Japan, South Korea, Australia...

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Vietnam’s economic success: The reason for

Political and social stability Improve the legal environment and institutional

market economy Reform the public sector and encourage the

development of the private sectorImproving infrastructure, transport, energy and

training of human resources for developmentInternational economic integration activities

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Socio-economic development indicators in

2013GDP increased by 5.5%.; Export turnover

increased by 10%.; Trade deficit about 8%; State budget deficit by 4.8% of GDP; Inflation about 8%; Total investment of the whole society developed around 30% of GDP.

The poverty rate fell by 2%; Create jobs for about 1.6 million workers; The unemployment rate in urban areas as 4%;

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Difficulties to be solved Overcome the difficulties as Potential risk

of high inflation; Macroeconomic instability; High bad debt (7% of GDP); High level of bankruptcy; Real estate market and stock market plummeted.

Steps are taken: - Reform banking system to solve the high

bad debt - Fix financing policy to reduce inflation,

reduce the income and company tax. - Restructuring the state companies - Promoting exports, FDI and ODA inflows.

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III. Vietnam and Slovakia relations

Traditional friendship and multilateral cooperation

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In 2006 President of Slovakia Ivan Gaspanovic visited Viet Nam.

In 2008, Prime Minister Fico visited and reopened the Embassy of Slovakia in Hanoi.

In 2009, Vietnam President Nguyen Minh Triet visited Slovakia. Embassy of Vietnam opened in Bratislava in 2010.

In 2010, Chairman of N A Pavol Paska visited Viet Nam The results of the visits gave new impetus to the

development of bilateral relations today.In April 2013, First Meeting of Joint Commission on

Economic Cooperation between Viet Nam & SlovakiaThe two countries signed several treaties and

cooperation agreements to create a legal framework for promoting bilateral cooperation.

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Trade

0

50

100

150

200

250

300

2011 2012

exportimport

VIETNAM EXPORT-IMPORTTWO-WAY TRADE TURNOVER

0

50

100

150

200

250

300

350

2006 2011 2012

Two-waytradeturnover

Million USD

Million USD

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TradeTwo-way trade turnover increased from USD 26

mn in 2006 to USD 170 mn in 2011 and USD 307 mn in 2012.

Viet Nam exported USD 291 mn mainly computers, electronic products and components, footwear of all kinds, textiles and garments, seafoods

Viet Nam imported USD 16 mn mainly machinery, equipment and parts, wood and wood products; chemical raw materials for textile, leather, shoes and feed materials

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Investment & economic cooperationInvestment & economic cooperation are limitedInvestment: Slovak companies interested in the

Vietnam market. Group Investment and Development of Slovakia (BTG) has an investment project in Hoa Binh province (Industrial park). Finance Group J & T (investment in construction project of office buildings in HCM City).

Slovak companies participated in Exhibitions in Ha Noi 2011 and 2013; Economic forums are organized in Viet Nam & Slovakia.

Some Vietnamese companies are interested in Slovak mobile market; selling coffee, rubber, seefood to Slovakia and though Slovakia to EU countries.

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RecommendationsVietnam is a bridge to Slovakia in the

ASEAN market and Slovakia for Vietnam into Eastern Europe - EU.

Great potential to develop cooperation in tourism, cultural cooperation, training and education.

Joint Commission is a good mechanism to promote cooperation. Encourage the small & medium enterprises (SME)

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How doing business in Vietnam? - Open economy but highly competitive and

lack of information. - Big markets, profitability prospects but

administrative procedures; unskilled workers - Doing business in the cities, the industrial

zones due to good infrastructure conditions - Increase export of SK through investment

projects - Support from the Slovak Embassy in

Vietnam and the Vietnam Embassy in Slovakia.

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ConclusionTime of opportunity to promote relations and

cooperation between Vietnam and Slovakia.Vietnam - industrialization, modernization and rapid economic development. Slovakia – new, active member EU.

Slovakia and Vietnam will take advantage of opportunities to enhance cooperation, exploit strengths and potential of the two sides, meeting the interests of our two countries.

Friendly relations and cooperation need a new driving force from the young generations.

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Thank you!