Open image in new windowVietnam
Vietnam is located to the south of China and is bordered by Laos and Cambodia. A rapidly developing country, Vietnam aspires to become a developed nation by 2020. Vietnam declared independence on September 2, 1945, ending years of conflict with France and fighting between northern and southern Vietnam. Vietnam’s currency is the dong (VND), which traded at VND19,148.9 to US $1 in 2010. The official language spoken is Vietnamese. Vietnam’s president, Nguyen Minh Triet, attained the country’s highest position in 2006 and was reconfirmed in January of 2011.
In the late 1980s, Vietnam opened its economy to global markets and foreign investment through implementing economic reforms. Since then, Vietnam’s economy has posted strong growth, at a peak of roughly 8% of GDP year-on-year in the 1990s but slowing in 2010 to 6.78% in 2009.
In 2010, utilized foreign direct investment totaled US $11 billion, a 10% increase over 2009. Vietnam’s key exports are clothing, shoes,...