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back to index backASIAtalk March,  2012


Taking Vietnam’s economy to the next level

To continue on a strong GDP growth trajectory, the country should work to raise its labor productivity.

During the past quarter century, Vietnam has emerged as one of Asia’s great success stories. In a nation once ravaged by war, the economy has posted annual per capita growth of 5.3 percent since 1986—faster than any other Asian economy apart from China. Vietnam has benefited from a program of internal restructuring, a transition from the agricultural base toward manufacturing and services, and a demographic dividend powered by a youthful population. The country has also prospered since joining the World Trade Organization, in 2007, normalizing trade relations with the United States and ensuring that the economy is consistently ranked as one of Asia’s most attractive destinations for foreign investors.

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Source: McKinsey Quarterly - GAI


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ASIAtalk

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