Country Report - Vietnam

Vietnam is located in southeast part of Asia, which is border on China and Cambodia and it’s a typical developing country (WIKIPEIDA). The population of country is 87.84 million, and the current GDP is 123.6 USD, the income level is belongs to the lower middle-income level (DOING BUSSINESS). The official language is Vietnamese and the currency is Vietnamese dong.

Politically, from its taxation policy (VIETNAM EMBASSY), local government is using different import and export duties preference to favor their foregone investors and attract more foreign incomes to develop their country. Meanwhile, there are tree key economic zones; they are affecting the economic growth of northern, southern and central part of the country respectively, economic zones are the vital part of the economic development of Vietnam. Each economic zone has its core industry, and each one had different strategies to meet different goal. These tree economic zones need financial and technical supports from foreigners so that government gives favorable policies to welcome more foreign investment and equipment. Nowadays, technological industry is leading a country’s economic growth thus Vietnam need to use technology instead for highly rely on agriculture. (VIETNAM BRIEFING) Vietnamese government introduces special visa policy to handy foreigner; foreign employees and their families can apply a multiple-entry visa.

Child labor is still a serious ethical problem in Vietnam, though their laws announced that children who are under 15 years old couldn’t employ. It’s normal to see children stop going to school and working to ease their family’s financial stress. Most part of these young age children working with a vile condition. Vietnamese primary school enrollment rate is still far lower than the average levels of East Asia and lower income (WORLD BANK). Therefore this is a negative reflection of commercial moral. In Vietnam, women’s right still cannot totally eliminate, many women who still suffering injustice of their gender. Corruption is not uncommon on Vietnam (corruption index is 123 in 176), which it’s bad for maintain a friendly relationship between company and government also its injustice for competition of the commercial market (GLOBAL EDGE).

Vietnam needs to pay their bills for the environmental problem under the fast tempo of industrialization and urbanization because deforestation is affecting their natural environment people who are seeking for their wealth and ignore they are destroying the balance of environment. Air pollution and water pollution are more serious than before also the growth of population is a challenge of the country (ASIA SOCIETY).

According to the population structure, it’s not difficult to see that people’s age from15 to 45 are occupying most proportion (NATIONMASTER). The labor force is trend to be young and active, it can create effective output of the industry, and benefit for local services