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Vietnam’s International Economic Integration: Current Situation and Policy Orientation

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  • Nguyen Chien Thang

Abstract

International economic integration has been a driving force of Vietnam’s growth since Vietnam introduced Doi Moi policy (Renovation) in 1986. This paper focuses on analysing two important aspects of Vietnam’s economic integration, i.e. trade and investment relations between Vietnam and other countries using various trade and investment databases (Vietnam’s General Statistics Office, General Department of Vietnam’s Customs, and UN’s COMTRADE). Study findings show that there have been long-term challenges for Vietnam’s trade structure such as main share of low value of export goods, persistent trade deficit, and main share of import comes from intermediate goods. As for FDI, there is concern on its quality since knowledge-based sectors, such as health, education, training, science and technology, finance, banking and insurance are only modest. Some policy recommendations are put forward to improve trade structure and FDI quality for long-term growth.

Suggested Citation

  • Nguyen Chien Thang, 2016. "Vietnam’s International Economic Integration: Current Situation and Policy Orientation," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 192-203.
    • Handle: RePEc:bas:econst:y:2016:i:4:p:192-203
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    More about this item

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements

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