The economy of Vietnam is a mixed economy that can be termed as developing socialist mixed economy. In earlier times Vietnam was one of the argriculutral center in the world and their main sourceof revenue was agricultural products. most of the people of Vietnam used to earn their living with the help of agriculture. Later a number of commerrical ports were established in Cambodia. The commercial ports include Pho Hien and Hoi An. Soon after this the economy of the country has undergone a sea change. At present the economy of the country is changing rapidly. A number of industries are being established along with a number of other sectors are also flourishing in the country.
The economy of Vietnam has undergone a major change over the past20 years. There has been a shift from the central planning based economy to a socialist mixed economy that is very market oriented. This period is known as Doi Moi in Vietnam the meaning of which is renovation. Due to this shift the economy of the country has experienced a rapid growth. The country is now integrating into the economy of the world. This change has made the economy a part of globalization.
Over a period of time Vietnam has also become an important name among the leading agricultural exporter in Southeast Asia. It has also experienced a tremendous growth in the tourism industry and has emerged as one of the leading tourist destinations in Southeast Asia. It is also an attractive foreign investment destination. Vietnam’s economy is one of the fastest growing economies in the world. At present a number of industries are growing in the country and most of them are earning huge revenues.
No comments:
Post a Comment