PDF Ebook Macroeconomic Report: Socialist Republic of Vietnam
Since the end of the Vietnam War in 1975, the Vietnamese economy has entered a period of peaceful evolution. After recognizing the failure of its old centrally-planned economic system to raise living standards, Vietnam today has successfully entered a new and prosperous era of international relations and economic recovery. The country faces many challenges, but has been guided by market principles leading to growth and stability that appear both remarkable and sustainable.
Vietnam has maintained impressive fiscal and monetary controls, steering the economy out of exorbitant hyperinflation and maintaining reasonable balance of payments control coupled with investor-friendly liberalization policies. The role of the state in enterprise has diminished but still remains significant, especially in areas of resource allocation and credit management. While considerable headway has been made, work remains to be done in reducing bureaucracy and removing barriers to access for business development.
This paper looks at Vietnam’s macroeconomic situation and current business environment after a legacy of occupation, war and debilitating state-controlled policies. It examines the emergence of structural reform and stabilization, recent high-growth phenomenon, and the near-term economic outlook. Finally, it explores considerations for foreign direct investment and risk assessment for business development in modern Vietnam.
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PDF Ebook Macroeconomic Report: Socialist Republic of Vietnam
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