Overview of Vietnam: Economy

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Bustling central Hanoi

Economic reconstruction of the reunited country has proven difficult. After the failures of the state-run economy started to become apparent, the country launched a program of đổi mới (renovation), introducing elements of capitalism. The policy has proved highly successful, with Vietnam recording near 10% growth yearly (except for a brief interruption during the Asian economic crisis of 1997). The economy is much stronger than those of Cambodia, Laos, and other neighboring developing countries. Like most Communist countries around the world, there is a fine balance between allowing foreign investors and opening up the market.

Vietnam Photos

• Chieng Noi, in Tinh Son La