Vietnam has high growth potential. Moreover 65 percent of population is working age, there is an attractive dosmetic market. Vietnam’s economy has to shift to a market economy to reform the economy – a structural reform needed to modernize the economy. Provetly levels have dropped dramatically. The government allows state-owned companies to diversify their investments. That is one of the easiest ways to increase GDP. The combination between Vietnam and the world is very impressive. It has joined many economic associations and signed trade agreements. Vietnam could expect to increase GDP from TPP and AEC. Vietnam’s eagerness to sign the TPP and restructure the economy to prepare for future competition.
Vietnam ranked 68 out of 144 economies in the Global Competitiveness Index for the period 2014-2015. There is a lot of room to improve, and Vietnam needs to reform otherwise it will face the risk of falling into the middle income trap. Vietnam has advantages in terms of market size, health, primary education and labor market efficiency – but it suffers from infrastructure. Vietnam must move from a low-wage economy to a highly skilled and trained country. Vietnamese enterprises must stick to the global value chain. The Vietnamese government has streamlined the bureaucracy and improved the role of civil society. Integration will require new standards of fair competition and transparency from the government. I believe that if Vietnam can burn the creativity and dynamism of its people, Vietnam should have the opportunity to thrive and take advantage of its integration into the world economy.
Writer: Nguyen Thu Ha (No.06)
Source of the Article: “The past and the Hopeful Future of Vietnam’s Economy” – by Le Dang Doanh




will be fly selected to Vietnam to participate, network and meet the Steering committee for Smart cities and local authorities of cities such as Ho Chi Minh city, Da Nang and Hoi An (Quang Nam). The deadline for application was 18 September 2017.