Vietnam’s political and economic reforms has, within a period of 25 years, transformed it from being one of the world’s poorest countries, with a per capita income below $100, to a lower-income country with a per capita income of $1,130 by 2010.
Vietnam was the world’s top coffee exporting country in 2012 making it second only to rice in the value of agricultural products exports. Rice production was the highest in the Asean region during the same period.
Potential crude oil and non-associated gas reserves stand at about 270 million tons and 360 billion cubic metres respectively, and are likely to increase substantially with continued exploration.
The foreign-investment sector is considered an important engine of economic growth for the country and the government has put in place a series of incentives to attract and encourage the kind of foreign direct investment, in sectors such as high technology, which are considered to be most likely to drive the country’s future economic development.