opinion Arthur Cyr Guest Columnist Published 7:01 AM EDT Sep 27, 2019 Vietnam today has risen dramatically in importance, for reasons having to do with commerce rather than communism. According to a new survey by “US News and World Report,” the nation is now eighth in a competitive ranking of 29 economies. This puts that country ahead of Malaysia, Singapore and Indonesia, which finished 13, 14 and 15 respectively. Heretofore, these powerhouse economies have been far more prominent in the realm of trade and investment. Last year, Vietnam ranked 23. The survey involved just under 7,000 business executives in decision-making positions. Respondents gave perceptions of each of the countries regarding eight characteristics, including corruption, economic stability, innovation, tax environment, technology and others. Efforts that led to economic boom Vietnam’s rapid climb reflects the government’s 1986 decision to open the doors to private investment and commerce. The term “doi moi,” which translates from Vietnamese as renovation or reform, became the formal label for these economic changes. They mirror similar important reforms in China since the late 1970s. In November 2017, the Asia Pacific Economic Cooperation (APEC) Summit occurred in Danang, Vietnam. The traditional spelling of this third largest city in the… Read full this story
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