Economy of Vietnam

The economy of Vietnam is a developing planned economy and market economy. Since the mid-1980s, through the "Đổi Mới" reform period, Vietnam has made a shift from a highly centralized planned economy to a socialist-oriented market economy which use both directive and indicative planning (see Five-Year Plans of Vietnam). Over that period, the economy has experienced rapid growth. Nowadays, Vietnam is in a period of being integrated into the global economy. Almost all Vietnamese enterprises are SMEs. Vietnam has become a leading agricultural exporter and served as an attractive destination for foreign investment in Southeast Asia.

In 2011, the nominal GDP reached $121.6 billion, with nominal GDP per capita of $1328.60. According to a forecast in December 2005 by Goldman Sachs, Vietnamese economy will become the 35th largest economy in the world with nominal GDP of $ 436 billion and nominal GDP per capita of 4,357 USD by 2025. According to a forecast by the PricewaterhouseCoopers in 2008, Vietnam may be the fastest growing of emerging economies by 2025, with a potential annual growth rate of about 10% in real dollar terms, which would increase the size of the economy to 70% of the size of the UK economy by 2050.

Vietnam has been named among the Next Eleven and CIVETS countries.