Economy of Vietnam

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The economy of Vietnam is a developing market economy. Since the mid 1980s, through the "Đổi Mới" reform period, Vietnam has made a shift from a centrally planned economy to a Socialist-oriented market economy. Over that period, the economy has experienced rapid growth. Nowadays, Vietnam is in the period of integrating into the world's economy, as a part of globalization. Almost all Vietnamese enterprises are SMEs with some nationwide trademarks such as VNPT, Vinamilk, FPT, Trung Nguyên, Kinh Do and others. Vietnam has been rising as a leading agricultural exporter and an attractive foreign investment destination in Southeast Asia.

In 2010, the nominal GDP reached $104.6 billion,[4] with nominal GDP per capita of $1218. According to a forecast in December 2005 by Goldman-Sachs, Vietnamese economy will become the 17th largest economy in the world with nominal GDP of $ 436 billion and nominal GDP per capita of 4,357 USD by 2025.[5] According to a forecast by the PricewaterhouseCoopers in 2008, Vietnam may be the fastest growing of emerging economies by 2025, with a potential growth rate of almost 10% per annum in real dollar terms that could push it up to around 70% of the size of the UK economy by 2050.[6]

Vietnam has been listed in the Next Eleven countries.


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