Vietnam’s military spending more than doubled between 2004 and 2013, reaching $4.4 billion, or 8 percent of total government spending, according to the Stockholm International Peace Research Institute. Current defense spending is roughly $5 billion a year.
The country was the 12th largest arms importer in the world between 2010 and 2014, and around 80 percent of its purchases have come from Russia.
IHS Jane’s estimates that Vietnam will set aside $1.6 billion for defense purchases this year, with that numbering rising to $2 billion by 2020.
The country was the 12th largest arms importer in the world between 2010 and 2014, and around 80 percent of its purchases have come from Russia.
IHS Jane’s estimates that Vietnam will set aside $1.6 billion for defense purchases this year, with that numbering rising to $2 billion by 2020.
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