The economy of Vietnam is a developing mixed socialist-oriented market economy. It is the 35th-largest economy in the world by nominal gross domestic product (GDP) and the 26th-largest economy in the world by purchasing power parity (PPP). It is a lower-middle income country with a low cost of living. Vietnam is a member of the Asia-Pacific Economic Cooperation, the Association of Southeast Asian Nations and the World Trade Organization.
Transportation in Vietnam is improving rapidly in terms of both quantity and quality. Road traffic is growing rapidly but the major roads are dangerous and slow to travel on due to outdated design and an inappropriate traffic mix. In recent years, the construction of expressways has accelerated. Air travel is also important for long distance travel. Metro systems are under construction in the two metropolises of Hanoi and Ho Chi Minh City.
The 1997 Asian financial crisis was a period of financial crisis that gripped much of East and Southeast Asia during the late 1990s. The crisis began in Thailand in July 1997 before spreading to several other countries with a ripple effect, raising fears of a worldwide economic meltdown due to financial contagion. However, the recovery in 1998–1999 was rapid, and worries of a meltdown quickly subsided.
The Monetary Authority of Singapore or (MAS), is the central bank and financial regulatory authority of Singapore. It administers the various statutes pertaining to money, banking, insurance, securities and the financial sector in general, as well as currency issuance and manages the foreign-exchange reserves. It was established in 1971 to act as the banker to and as a financial agent of the Government of Singapore. The body is duly accountable to the Parliament of Singapore through the Minister-in-charge, who is also the Incumbent Chairman of the central bank.
The dong has been the currency of Vietnam since 3 May 1978. It is issued by the State Bank of Vietnam. The dong was also the currency of the predecessor states of North Vietnam and South Vietnam, having replaced the previously used French Indochinese piastre.
Hanoi Stock Exchange (HNX), formerly the Hanoi Securities Trading Center until 2009, is located in Hanoi, Vietnam, and was launched in March 2005. It handles auctions and trading of stocks and bonds. It was the second securities trading center to open in Vietnam after the Ho Chi Minh City Securities Trading Center.
Cathay United Bank is one of the largest commercial banks in Taiwan, with a capital value of TW$67 billion and more than 165 branches located throughout Taiwan. It is part of Cathay Financial Holdings.
The State Bank of Vietnam is the central bank of Vietnam. Organized a ministry-level body under the Government of Vietnam, it is the sole issuer of the national currency, the Vietnamese đồng. As of 2024 it holds over USD 100 million in foreign exchange reserves.
Vietjet Aviation Joint Stock Company, operating as VietJet Air or Vietjet, is a Vietnamese low-cost airline based in Hanoi. It was the first privately owned airline to be established in Vietnam, being granted its initial approval to operate by the Vietnamese Minister of Finance in November 2007. As of its launch in December 2011, it became the second private airline to offer domestic service in Vietnam, as well as the fifth airline overall to offer civil domestic flights. VietJet Air is owned by Sovico Holdings, HDBank, other organisational investors, and individual stakeholders.
India–Vietnam relations, also known as Indian-Vietnamese relations, are the bilateral relations of India and Vietnam.
Singapore–Vietnam relations refer to the bilateral relations between the Republic of Singapore and the Socialist Republic of Vietnam. Singapore and Vietnam started the trade relations in the 19th century. Due to the anti-communist policy of Singapore, Singapore supported South Vietnam before the unification of Vietnam. Singapore also started formal diplomatic relations with North Vietnam on August 1, 1973. After the unification of Vietnam, Singapore started to improve its relations with the Socialist Republic of Vietnam. Relations worsened during the Cambodian–Vietnamese War, but have improved once more after the People's Army of Vietnam withdrawal from Cambodia.
Joint Stock Commercial Bank for Foreign Trade of Vietnam, commonly referred to as Vietcombank, is a commercial bank in Vietnam.
The ASEAN Smart Cities Network (ASCN) is a collaborative platform that aims to unify smart city development efforts across ASEAN. The ACSN aims to facilitate cooperation on smart city development, broker smart city development projects between city government units and local private sector firms, and secure funding and support for these developments from ASEAN's external partners. The initiative was launched at the 32nd ASEAN Summit as a key deliverable of Singapore's ASEAN Chairmanship in 2018, and its Inaugural Meeting took place on 8 July 2018.
Hyperinflation in Venezuela was the currency instability in Venezuela that began in 2016 during the country's ongoing socioeconomic and political crisis. Venezuela began experiencing continuous and uninterrupted inflation in 1983, with double-digit annual inflation rates. Inflation rates became the highest in the world by 2014 under Nicolás Maduro, and continued to increase in the following years, with inflation exceeding 1,000,000% by 2018. In comparison to previous hyperinflationary episodes, the ongoing hyperinflation crisis is more severe than those of Argentina, Bolivia, Brazil, Nicaragua, and Peru in the 1980s and 1990s, and that of Zimbabwe in the late-2000s.
Viernes Rojo in Venezuela refers to Friday, 17 August 2018, when President Nicolás Maduro announced a series of economic reforms known as "Program of Recovery, Growth and Economic Prosperity", in response to increasing hyperinflation. This event is also known as Paquetazo Rojo or Madurazo by some media outlets. These reforms include the introduction of the a new currency with five fewer zeros, increase the minimum wage based on the Petro and increase VAT to 16%. According to President Maduro, these reforms have the goal of recovering the population's salary in two years through the Economic Recovery of Growth and Prosperity program, to eliminate the fiscal deficit and to eliminate the use of paper money.
