Deregulations and liberalisation in Asia: trade and investment opportunities - Vietnam

Abstract

Vietnam, with a land area of approximately 330,000 square kilometres, is similar in size to Malaysia but its population of 70 million people is much larger than that of Malaysia or those of its neighbouring countries in Indochina. Compared to the other emerging countries in the region like Cambodia, Laos and Burma, Vietnam had a headstart in the transition from a centrally planned economy to a market-based one following the adoption of the doi moi (renovation) economic policy in 1986. By 1993, it had the highest GDP growth and the lowest inflation rate amongst the emerging Indochinese countries. Vietnam's total bilateral trade with outside countries was also about three and a half times that of Myanmar, the next largest trading nation in this group. The phenomenal economic progress that Vietnam has made in the last 7 to 8 years, has attracted the attention of many foreign investors. It is clear therefore, that Vietnam should not be overlooked by Malaysian entreprenuers in our lookout for reverse investments and major trading partners.