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Vietnam used to be seen as a poor country where production was underutilized, economic activities and trade were strictly restricted due to a set of harsh inward-oriented policies. Also, it suffered quite severely from the embargo put on trade by the United States and West Europe after the Vietnam War. However, Vietnam is now known as one of the fastest growing economies in the world, with most obvious evidence of 7%-8.5% annual GDP growth for the last 15 years. According to official figures, this year the government is predicting 8.5%. As people often learn about it, this miraculous transform was mainly brought about after 1986 when the Sixth Party Congress introduced a countrywide reform which significantly rejuvenated the economy and brought it from state monopoly on foreign trade closer to a free and open market...
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