Socialist Republic of Viet Nam, commonly known as Vietnam, is a socialist republic located on the eastern part of Indochinese Peninsula in Southeast Asia, and the capital is Hanoi.
At the Vietnam Communist Party's sixth annual meeting in December 1986, the Doi Moi policy has been adopted to incorporate the market economy system to socialism, and it converted to a track of the market economy as well as Chinese economic reform.
Growth rate of the gross domestic product (GDP) that has temporarily stalled during the world financial crisis was 8.5% in 2007, 6.3% in 2008, 5.3% in 2009, 6.8% in 2010, and stable growth continues. On the other hand, inflation rate is also high (11.8% in 2010). From the fact that labor costs are in the upward trend in China, it has been attracting attention as a new investment destination in recent years.
Because it has also been counted as one country of NEXT11 and VISTA, more economic development has been expected in the future. The proportion of the poor living on less than a dollar a day is less than China, India, and the Philippines.
Although 66% of the working population is engaged in primary industries, in recent years secondary and tertiary industries are rapidly growing. Growth of the tourism industry is significant in particular, so it is an important source of foreign exchange now.
The main export items are crude oil, clothing, agricultural and fishery products. Especially for rice, it was the second-largest exporter in the world behind Thailand.
Personnel expenses are approximately 60% of China.