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Vietnam - Coggle Diagram
Vietnam
Social
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Economic Inequality : Income inequality, supports the two spectrums of extreme wealth and poverty.
Toxic Money-making mindset that has led to thousands of people falling victim to scammers and losing large sums of money
High public debt: Public Debt to GDP ratio has amounted to 61.8%. This may cause tax hikes and reduction in propensity to invest
Corruption: Weak laws of law, bureaucracy and ambiguous legal framework that makes it harder for criminals to be brought to justice -which results in continuous crime
Pollution (in air) and water: Great water crisis, tonnes of fish, marine life killed, destroying ecosystems
Unsafe Food: 139 mass food poisoning outbreaks in 2017, affecting 3,869 people with 24 fatalities
Technological
Good reputation in science and technology (S&T) fields such as mathematics, and specialization in agricultural research and biology.
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Economical
Economic Growth : Growth is to be excepted to jump in the coming years, supported by a likely strengthening of the external sector and if Vietnam continues outperforming its regional peers
Economic Outlook: Stronger manufacturing sectors and retail sales expanded notably and exports surged. However, the tourism sector remained downtrodden due to the border closure
Economic Status: Vietnam is one of the few countries after China to record net positive GDP growth. Despite the pandemic, Asian Development Bank (ABD) has forecast a 2.3 % growth for 2020, with the economy set to bounce back to 6.1% in 2021, provided the pandemic is contained
Currently, Vietnam's economy relies largely on foreign direct investment to attract capital from overseas to support its continual economic rigor
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Future Trends/Challenges
Complex and Difficult business transactions: Inadequacy in physical infrastructure and its powerful state bureaucracy
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Highest quality Labour Relative: Continuation with high quality labour relative despite lack of or a weaker educational infrastructure
Potential growth to follow Japan's: The demographics of Japan and Vietnam are similar, with high population density and a relatively small portion of arable land, necessitating the ability to use limited space productively and creatively. Eventually, Vietnam's population will be larger than that of Japan. Thus, like Japan, it has important economies of scale and related people resources
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Political
Political Prisoners: Vietnamese rights bloggers face regular harassment and intimidation. Officials often arrest political critics for their posts on the internet. In 2018, Vietnam put on trial at least 12 people for “conducting propaganda against the state.” Sentences ranged from 4 to 12 years in prison
Lack of Human Rights: government imprisoned dissidents for longer prison terms, sanctioned thugs to attack rights defenders, and passed draconian laws that further threaten freedom of expression.
Basic civil and political rights including freedom of expression, association, and peaceful public assembly are severely restricted
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Ongoing Communist Party In Vietnam: The political system in Vietnam is led by the CPV, and it "leads, respects and promotes the role of the State, the Vietnamese Fatherland Front (VFF) and other socio-political organisations
Industrial Relations
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Work Permits (for foreign employees): This only applies to employees who are considered under "managerial positions" which is not easily obtained due to the narrowly-defined managerial positions under Enterprise Law of Vietnam
Overtime : Hours have not been specified by industry (lack of transparency) especially in garment and construction industries, resulting in accrued amount of overtime work
Social Insurance for foreign employees: No clear guidance as to how foreign employees are supposed to pay the compulsory social insurance