Vietnam’s greatest economic resource is its literate and energetic population. Its long coastline provides excellent harbours, access to marine resources, and many attractive beaches and areas of scenic beauty that are well suited to the development of tourism. Since the late 1990s, the country’s economy has been on a vigorous upswing. Tourism has expanded, manufacturing and export earnings have increased, and the per capita gross domestic product (GDP) has grown rapidly. Early in the 21st century, state markets were opened to foreign competition, and Vietnam became a member of the World Trade Organization (WTO). This surge followed two decades of post-reunification economic instability, during which a slowly developing infrastructure, excessive population growth, environmental degradation, and a rising domestic demand (that was increasingly difficult to meet) impeded economic development.
Source: brittanica.com
