During the past five years, Vietnam has achieved the best economic development in its independent history. Vietnam is also experiencing increased levels of foreign investment and export trade. Normalization of relations between the United States and Vietnam will create more favorable conditions for trade and investment between the two countries. In 1991, the Government of Vietnam approved the Strategy for Socio-Economic Stabilization and Development Until the Year 2000 ("Strategy"). The basic concept of the Strategy is to place human beings at the center of development and to promote the potentials of individuals, communities, and the whole nation. The strategy also seeks to harmoniously combine economic development with socio-cultural development, allowing the Vietnamese people's cultural and spiritual lives to improve together with their material well-being. Under the Strategy, economic development is considered the basis, a tool, and a prerequisite for the realization of social policies.
Ngo Quang Xuan,
Vietnam: Potential Market and New Opportunities,
19 Fordham Int'l L.J. 32
Available at: https://ir.lawnet.fordham.edu/ilj/vol19/iss1/4