JEC COMPOSITES MAGAZINE - Issue #70 - January/February 2012 - 72

economy

reaffirmed their commitment to economic liberalization and international integration. They have moved to implement the structural reforms needed to modernize the economy and to produce more competitive export-driven industries. Vietnam joined the WTO in January 2007 following more than a decade-long negotiation process. Vietnam became an official negotiating partner in the developing Trans-Pacific Partnership trade agreement in 2010. Agriculture’s share of economic output has continued to shrink from about

25% in 2000 to about 20% in 2010, while industry’s share increased from 36% to 41% in the same period. Deep poverty has declined significantly and Vietnam is working to create jobs to meet the challenge of a labour force that is growing by more than one million people every year. The global recession has hurt the country’s export-oriented economy, with GDP in 2009-10 growing less than the 7% per annum average achieved during the last decade. In 2010, exports increased by more than 25%, year-on-year, but the trade de-

ficit remained high, prompting the government to consider administrative measures to limit the trade deficit. Vietnam’s managed currency, the dong, continues to face downward pressure due to a persistent trade imbalance, and, since 2008, the government has devalued it by 20% through a series of small devaluations. Foreign donors pledged nearly $8 billion in new development assistance for 2011. However, the government’s strong growth-oriented economic policies have caused it to struggle to control one of the

region’s highest inflation rates, which reached 11.8% in 2010. The country’s economy also faces challenges from falling foreign exchange reserves, an undercapitalized banking sector and high borrowing costs. The near-bankruptcy and subsequent default of the SOE Vinashin, a leading shipbuilder, led to a ratings downgrade of Vietnam’s sovereign debt, exacerbating Vietnam’s borrowing difficulties. n
Source: ASEAN, OECD – The World Factbook

JEC Asia 2012: Program conferences
The Innovative Composites Summit (I.C.S.) is a three-day program comprising economic, and technical conferences that will showcase the latest trends and breakthrough innovations across different application sectors in the composites industry. In 2012, JEC offers you the possibility to speak (20mn) at several conferences:
Submissions deadline February 20, 2012
Tuesday, June 26 Construction :
Emergency and composites 10.30am / 1.00pm

Deliberation / jury February 27, 2012
Wednesday, June 27 Economy :
Mains trends 10.30am / 1.00pm

Deadline materials April 10, 2012
Thursday, June 28 Automotive :
E-Car: what role for composites materials? 10.30am / 1.00pm

Wind Energy :
The durability of structures 2.30pm / 5.00pm

Carbon :
Carbon statement and new projects (Korea, Australia, China…) 2.30pm / 5.00pm

Aeronautics :
What is the impact of huge composites penetration in aircrafts on MRO? 1.30pm / 4.00pm

Contact: Frédéric Reux, Media Director & Editor-in-Chief, reux@jeccomposites.com

72 jec composites magazine / No70 January - February 2012

JEC COMPOSITES MAGAZINE - Issue #70 - January/February 2012

Table of Contents for the Digital Edition of JEC COMPOSITES MAGAZINE - Issue #70 - January/February 2012