Energy In Vietnam

Vietnam is a well known country in Southeast Asia that has experienced a rapid growth in the industrial sector over past twenty years. During the past twenty years the economy of the country has undergone a sea change and has become one of the fastest growing economies in the world. Special stress is given on industrialization to integrate the economy of the country in to the economy of the world. In  other world the economy  of Vietnam  is  trying  to integrate  into globalization. 

No  industrialization  can grow without a  potential source of power and energy so the  energy  sector  of Vietnam  has  also undergone  a rapid growth. The fuel and energy industry of Vietnam  is one of the biggest industries  in the country. The  country exports  its  fuels and  energies to other  countries after satisfying the  need of the  country and  earns good revenue.

Petroleum is the main source of commercial energy in Vietnam.  Coal too is considered as a potential source of commercial energy.  Coal contributes 25% of the energy of the country.  The oil reserves of Vietnam are in the range of 270 to 500 million tons. The  oil  produce from the oil reserves rose  to   403,300 barrels per day in the year 2004. However, the  output is believed to have  reached its  maximum  level  and  it is expected that the amount of  output  will decrease gradually. 

Vietnam  also has  a good coal  reserve of the  finest quality  anthracite coal. The coal reserves of the  country are estimated at 3.7 billion tons. Coal production of  the country was approximately 19 million tons in the year 2003. The potential natural gas reserves of  Vietnam are 1.3 trillion cubic meters. Hydroelectric power is another source of energy in the country.  Nuclear power plants  are  also  being established with the  help of foreign assistance in the  country.

Tourism Industry in Vietnam

In the  past  few  year the  economy  of Vietnam has  undergone  a  sea  change  and  as a  result  of this  the  economy of the  country has  experienced a  rapid growth.  A number of new industries were established in the country where as a number of other industries that were already there were revamped for expansion. There are a few service based industries in Vietnam as well.  The most well known among the service based industries is tourism. 

Tourism in Vietnam has  become  one of the major  industries.  Vietnam  has   grown into one of the most  popular  tourist destinations in Southeast  Asia.  Every  year  millions of  international tourists  come  to visit this wonderful  country  that  is  full of natural beauty as well as historical  sites.  The hill destinations of the country like  Sa Pa  has  become a romantic  vacation destination. Apart from that there are a few world heritage sites  in the  country.  People from different corners of the world come to visit these beautiful tourist destinations.

The  growth in tourism  have   also given  rise  to the  number of  hotels  as well as  other tourism based industries in the  country. And the industry is growing  at a rapid rate. in the  year 2004 services accounted for 38.2% of gross domestic product in Vietnam. The annual average  rate of growth of this  industry was 0.6% for ten  years. In the  year 2004 Vietnam received 2.9 million international tourists.  In the  year 2003  the  number of  tourists  visiting the  country was 2.4 million. According  to the facts  from  the  year  1999 to  2004 the tourism  industry experienced a growth of  almost  63%. A number of plans are being implemented for the further grown in the tourism industry.  New airports, hotel and  other facilities are being made.  Promotions are also being done to attract more and  more foreign tourists to Vietnam.

Industry in Vietnam

Vietnam is one of the most prominent countries in the southeastern region of Asia. the country is well known for its natural beauty as well as for the historical heritage,. The country has almost 2700 years of history. However, the history of its industrial growth is very new. Since its known history the country has been under the rule of different countries. The country was under Chinese rule for almost thousand years. After that the country regained independence and remained independent until France colonized the country in the 19^th century. Post World War II the country was partitioned into two by Geneva Accords. This decision led to the infamous Vietnam War. Later the country experienced an economic growth from the middle of 1980s. From this time history of industrialization in Vietnam also took its present shape.

Vietnam is one of the southeast Asian countries that has experienced a tremendous economic growth recently. Hence a number of industries were established in this country. the industries range from heavy to small industries. There are a number of mining enterprises, engineering works as well as industries that are based on natural resources. These industries include tea industry and tobacco. There are some light industries like consumer goods industry. This industry includes food processing, pharmaceuticals textiles and food processing. Food processing, garments, shoes, machine building, mining, cement, tires, chemical fertilizers, oil, coal, steel, glass, and paper industries are the leading industries in Vietnam.

These industries have a major contribution in the economic growth of the nation. The food processing industry is a major contributor in earning the foreign revenue. The leather and footwear industry of this country has also developed tremendously in this country.

Vietnamese Economy

The economy of  Vietnam  is  a  mixed economy that can  be termed as  developing  socialist  mixed economy.  In  earlier times  Vietnam was  one of the argriculutral  center  in the  world and  their main sourceof revenue  was  agricultural products.  most of the people of Vietnam  used to  earn their living  with the  help  of agriculture.  Later  a  number of  commerrical  ports  were  established  in  Cambodia. The  commercial  ports include Pho  Hien and  Hoi An.  Soon after this the economy of the country has  undergone  a  sea  change.  At  present the economy  of the country is  changing rapidly. A  number of  industries are being established along with a number of  other sectors are also flourishing in the country.

The economy of Vietnam has undergone  a  major change  over the  past20 years.  There has been a shift from the central planning based economy to a socialist mixed economy that is very market oriented. This period is known as Doi Moi in Vietnam the meaning of which is renovation. Due to this shift the economy of the country has experienced a rapid growth. The country is now integrating  into the economy of the world.  This change  has  made the  economy  a part  of  globalization.

Over a  period of time Vietnam  has  also  become  an  important name among the  leading agricultural  exporter in Southeast Asia. It has also experienced a tremendous growth in the tourism industry and has emerged as one of the leading tourist destinations in Southeast Asia.  It is also an attractive  foreign investment destination.  Vietnam’s economy is one of the fastest growing economies in the world.  At  present a  number  of industries  are growing  in the  country  and  most  of them are earning huge revenues. 

Mining Industry in Vietnam

Vietnam is a well known country in Southeast Asia.  Apart from being a leading tourist destination of that region the country has also marked its presence felt in the industrial sector of that part of the continent. The country has   undergone a tremendous economic growth over the past few years.  Over the part twenty years the country has given much emphasis on industrialization.  As a result a number of industries have emerged in this country.  A number of these industries have also expanded so well that it can produce export quality products.  These industries have thus become an important source of revenue for the country.

The mining industry of Vietnam is also an important industry of the country.  The land  of  Vietnam  has great  natural resources. There are ample resource of natural fuels and a number of other minerals and metals. The mining industry of the country is unearthing the resources and producing  export  quality fuel, minerals and  other raw  materials. The  mining industry of   Vietnam  has a  good market of  natural  fuels  like coal  and crude  oil  in the  international market. Petroleum as well as its produces also has a good market.

The mining and quarrying was accounted for a 9.4 percent share of gross domestic product or GDP in the year 2003.  The mining sector has employed 0.7% of the total workforce of the country. The industry is generating   a fair amount of foreign revenue by exporting the minerals and produced in the international market.  Petroleum and coal are some of the main mineral exports in the country.   Antimony, bauxite, chromium, gold, iron, natural phosphates, tin, and zinc are also the other produce of the mining industry.