gs1medium

Consider the following statements :

  1. 1.Vietnam has been one of the fastest growing economies in the world in the recent years.
  2. 2.Vietnam is led by a multi-party political system.
  3. 3.Vietnam’s economic growth is linked to its integration with global supply chains and focus on exports.
  4. 4.For a long time Vietnam’s low labour costs and stable exchange rates have attracted global manufacturers.
  5. 5.Vietnam has the most productive e-service sector in the Indo-Pacific region.

Which of the statements given above are correct ?

  1. A.2 and 4
  2. B.3 and 5
  3. C.1, 3 and 4
  4. D.1 and 2
▶ Answer & Explanation

Correct answer: C. 1, 3 and 4

Vietnam has indeed experienced rapid economic expansion in recent decades, driven significantly by its integration into global value chains and a strong export orientation. Factors like competitive labor costs and a favorable manufacturing environment have attracted substantial foreign direct investment, bolstering its export-led growth model. The country's political system, however, is a single-party socialist republic, making statement 2 incorrect.

Source: UPSC gs1 2022

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