Q67.
Consider the following statements: 1. Vietnam has been one of the fastest growing economies in the world in the recent years. 2. Vietnam is led by a multi-party political system. 3. Vietnam's economic growth is linked to its integration with global supply chains and focus on exports. 4. For a long time Vietnam's low labour costs and stable exchange rates have attracted global manufacturers. 5. Vietnam has the most productive e-service sector in the Indo-Pacific region. Which of the statements given above are correct?
Answer
C
Explanation
Statement 1 is correct: Vietnam was one of only a few countries to post GDP growth in 2020 during COVID-19, and is among the fastest growing economies. Statement 2 is incorrect: Vietnam is a ONE-PARTY COMMUNIST STATE, not a multi-party democracy. Statement 3 is correct: Vietnam's export-led growth strategy and global supply chain integration are key factors behind its growth. Statement 4 is correct: Low-wage labour and stable exchange rates have lured global manufacturers. Statement 5 is incorrect: Countries like Philippines, Singapore, and Indonesia are at the forefront in e-commerce productivity — Vietnam's e-services are at a nascent stage.