High Growth Rate in Vietnam
While the United States government has been slow to let go of the animosity towards Vietnam that was present after the US lost the Vietnam War, the Vietnamese have not let that stop them from gradually developing what is now one of the fastest growing economies in Asia. The growth rate for 2006 is expected to be at about the 8% mark which would put Vietnam just behind China and India in the world growth rate race.
While the US government was applying sanctions against Vietnam, other more enlightened governments, like the French who also suffered a humiliating defeat in Vietnam, were building trade ties and gaining lucrative contracts. Unfortunately, for many years, at it’s top levels the US has had an extreme shortage of statesmanship and forward thinking leadership.
Vietnam has a proud history and in spite of a lot of foreign influence has managed to retain a unique culture. Hard work, getting an education, and devotion to one’s country is part of that culture which is servicing Vietnam well in the 21st century.
One of the great potentials for Vietnam is the development of it’s tourist industry.
Vietnam is blessed to have about 1,750 kilometers of coastline fronting on the South China Sea. The white sand pristine beaches are some of the finest in the world.
The beaches and beach resorts are still relatively undeveloped although that is changing fast. Vietnam is currently coming into it’s own with a fast growing economy and entrance into the WTO, the World Trade Organization.
Tourism is briskly moving ahead in Vietnam. Vietnam has captured a large segment of the tourist market that used to go to Bali, especially Australians. Vietnam is considerably cheaper to visit and is deemed safer than Bali after the Bali bombing attack of two years ago.
No doubt that Vietnam is one track to become another hot tourist spot, one that deserves your attention. To take a look at available accommodations visit Terrific Hotels.
Vietnam is also becoming a low cost center for all sorts of industrial production, especially in the high tech area. Look for continued progress in Vietnam at a fast pace in coming years.
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Posted in Business World