Civil Services Prep

Prelims 2022 · Economy · Question 67

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?

  1. 2 and 4
  2. 3 and 5
  3. 1, 3 and 4
  4. 1 and 2

Answer

1, 3 and 4

1. Correct. Vietnam has been among the fastest-growing economies in recent years, with strong GDP growth driven by manufacturing and exports.

2. Incorrect. Vietnam is not a multi-party system; it is a one-party socialist republic led by the Communist Party of Vietnam.

3. Correct. Its growth is closely tied to integration into global supply chains, especially electronics, textiles, and other export-oriented manufacturing.

4. Correct. Low labour costs and relatively stable exchange-rate conditions have long helped attract foreign manufacturers to Vietnam.

5. Incorrect. There is no standard, accepted basis to say Vietnam has the most productive e-service sector in the Indo-Pacific; this statement is not factually established.

Hence, the correct statements are 1, 3 and 4.

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