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Option 3 : 1, 3 and 4
The correct answer is 1, 3, and 4.
Vietnam
- It is a country occupying the eastern portion of mainland Southeast Asia.
- Vietnam’s greatest economic resource is its literate and energetic population.
- Its long coastline provides excellent harbours, access to marine resources, and many attractive beaches and areas of scenic beauty that are well suited to the development of tourism.
- Since the late 1990s, the country’s economy has been on a vigorous upswing.
- Tourism has expanded, manufacturing and export earnings have increased, and the per capita gross domestic product (GDP) has grown rapidly.
- GDP growth statistics report states that Vietnam is the fastest growing world economy with a growth rate of 7.31% in 2019. Hence, Statement 1 is correct.
- It is a single-party socialist republic state. Hence, Statement 2 is not correct.
- It has surpassed the growth rate of other Asian economies including India and China, which stand at 4.5% and 6% CAGR respectively.
- Unfortunately, their e-service sector isn’t that productive. Hence, Statement 5 is not correct.
- Vietnam’s economic growth is linked to its integration with global supply chains and its focus on exports. Hence, Statement 3 is correct.
- Vietnam has low labour costs and stable exchange rates which attract global investments. Hence, Statement 4 is correct.
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