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The
Socialist Republic of Vietnam is bordered to the north
by the People's Republic of China, to the west by Laos
and Cambodia and to the east-south by the East Vietnam
Sea ( South China Sea). It has a coastal line of about
3,620 km with total land area of 329,560 km2, with a length
of some 1,000 km, stretching between 8°30'N and 23°N.
The temperature in Hanoi, range between 10 and 35 degree
Celsius and relative humidity exceeds 80 percent. There
are two major rivers and associated delta systems: Song
Hong (Red River) in the north and Song Cuu Long (Mekong
River) in the south. |
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Vietnam
has a population of 78.7 million (2001 estimated). Official
language is Vietnamese, while English and other languages
such as Russian, French and Chinese are widely used. Administratively,
Vietnam is divided into 61 provinces, cities and special
zones (including 4 urban authorities), 600 districts and
10,330 communes. The capital is Hanoi and the biggest
city is Ho Chi Minh City. |
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Economic
stagnation marked the period after reunification from
1975 to 1985. In 1986, a broad economic reform package
called "doi moi," or renovation has been initiated,
which has dramatically improved Vietnam's business climate.
Vietnam became one of the fastest-growing economies in
the world, averaging around 8% annual GDP growth from
1990 to 1997. Vietnam's inflation rate, which stood at
an annual rate of over 300% in 1987, fell to below 3%
in 2001. Per capita income, $220 in 1994, rose to $410
by 2001 with a related significant reduction in the share
of the population living in acute poverty. Energy is a
key component in Vietnam's economy and plays a vital role
in the industrialization and the social life of the country.
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Basic
General Information |
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Official
Name
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:
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Socialist
Republic of Vietnam |
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Capital
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:
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Hanoi |
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Area
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329,560
km2 |
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Population:
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78.7
million (2001 E) |
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Currency
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:
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Dong
(VND) |
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Major
Ethnic Groups
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Kinh
or Vietnamese (86%) |
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Major
Religion
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Buddhism |
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Languages
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Vietnamese
(official), English, French, Chinese, |
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Gross
Domestic Product
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:
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32,300
million USD (2001 E) |
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GDP
per Capita
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:
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410
USD (2001 E) |
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GDP
Grow Rate
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:
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6.8%
(2001 E) |
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Inflation
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:
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2.7%
(2001 E) |
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Merchandise
Exports
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15,100
million USD (2001 E) |
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Major
Export Products
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Crude
oil, rice, marine products, garments and textiles,
coffee, coal, rubber, nuts |
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Merchandise
Imports
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16,000
million USD (2001 E) |
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Major
Import Products
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:
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Petroleum
products, tractors, tires, steel products, foodstuffs,
cotton, textiles, sugar |
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Vietnam
Oil and Gas - Towards the Future |
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The
strategic orientation for Vietnam's oil and gas industry
in the first decades of the 21st century is to develop
in all areas of exploration, production, transportation,
processing and distribution of petroleum products to the
consumers, to attempt to fulfill the output targets set
forth by the Government, which are mapped out by PetroVietnam
with the following major objectives to be achieved from
now to the year 2020:
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To immensely speed up exploration on the whole continental
shelf of Vietnam to determine the country's proven
oil and gas reserves and focus all resources on development
activities with new oil and gas fields to meet national
energy demands. Step by step, to expand the exploration
and production activities to countries overseas.
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To concentrate on construction and operation of the
infrastructures, including national gas pipelines
and processing facilities, develop and modernize the
petroleum product distribution system to create favorable
conditions for the production and utilization of oil
and gas and ensure sustainable and stable development
of the industry.
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To broaden international cooperation in order to attract
more investment for the industry and develop its own
technical and technological ability as well as a team
of qualified and experienced staff capable of managing
activities in the petroleum industry in Vietnam and
the other countries.
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In
order to further improve the investment environment and
create more favorable conditions to foreign petroleum
enterprises, the following, among the general policies
and measures are advocated to attract foreign investment:
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To continue completion of the legal framework for
the petroleum industry, and to create opportunities
and investment incentives for foreign investors operating
in deepwater and areas with difficult geological and
geographical settings.
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For
investors with technical, technological, and financial
potential and management experience who have committed
to taking high risks in exploration projects, preference
and assistance will be given for them to participate
in new acreage if their tender terms are not too
low in comparison with other contractors.
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To
encourage investors to step up exploration and production
of gas fields, the Government of Vietnam will develop
the domestic gas market, establish a national gas
pipeline and consider possible connectivity with
the regional Trans-ASEAN gas pipeline to ensure
flexibility and stability in production and utilization.
With the success and strength achieved during the
recent period, PetroVietnam is confident that it
will complete the target set out, consequently contributing
actively to the country and the world petroleum
community
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With the success and strength achieved during the recent
period, PetroVietnam is confident that it will complete
the target set out, consequently contributing actively
to the country and the world petroleum community. |
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