Vietnam Defence & Security Report Q1 2015 - New Study Released
New Defense market report from Business Monitor International: "Vietnam Defence & Security Report Q1 2015"
[USPRwire, Tue Dec 30 2014] We forecast that Vietnam will spend up to USD7.7bn on defence in 2015. This is a notable increase from the USD6.7bn which the country spent on defence last year. On average, Vietnamese defence expenditure has risen since the commencement of the decade. Up to and including 2019, we expect Vietnam to spend an average of USD9.3bn on defence annually, with defence spending reaching USD11.1bn in 2019.
We have given Vietnam an overall security risk index of 75 for Q115. On average, the country has scored an overall security risk index of 76 for the period February 2009 up to and including Q115. As the discussion below will illustrate, we believe that Vietnam faces a moderate risk of becoming involved in a major interstate conflict. That said, we believe that the country has a low risk of experiencing a major terrorist attack, although it does face a moderate risk of experiencing major criminal activity.
Full Report Details at
Key Risks To Outlook
Vietnam faces a number of security issues. Cambodia has accused Vietnam of performing border violations, with maritime disputes between the two countries also existing. Similarly, tensions exist with China which occupies the Paracel Islands, which are claimed by Vietnam. In addition, Vietnam continues the construction of facilities in the disputed Spratly Islands, while occasional tensions have existed in the past with Indonesia regarding illegal fishing.
In October 2014, the United States took the decision to authorise the sale of lethal military equipment to Vietnam. The US has performed this change of policy to strengthen Vietnamese maritime security in the face of security threats from China. Equipment mooted for possible future sale to Vietnam include Lockheed Martin P-3 Orion maritime patrol aircraft and C-130 turboprop freighters from the same company.
The Vietnam Defence & Security Report features Business Monitor International (BMI)'s independent forecasts for national and international security, the defence industry, military expenditure, employment in arms production, and arms imports and exports, as well as examining industry trends and prospects, national and multinational arms producers and the regulatory environment.
BMI's Vietnam Defence & Security Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Vietnamese defence and security industry.
* Benchmark BMI's independent defence and security industry forecasts on Vietnam to test other views - a key input for successful budgetary and strategic business planning in the Vietnamese defence and security market.
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