Socialist Republic of Vietnam

Capital: Hanoi                             HDI: 0.638 (121st)

Language: Vietnamese

GDP (PPP): $510.7 billion

Currency: đồng

Population: ~ 94.3 million

Vietnam is a rapidly developing country, having only begun its transition from a centrally planned economy in 1986. The broad reform efforts launched in that year have been aimed at linking the Vietnamese and global markets, in particular with the other markets of East Asia. These reforms also resulted in a quick increases in the standard of living for the largely agricultural population. The national economy benefits from a rapidly growing labor force and HSBC has predicted that by 2050 the country will be listed amongst the top economies of the world, surpassing regional powerhouses such as Singapore. The economy has experienced growth even through the 2008-2009 global recession, and shows no signs of stopping anytime soon.

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