[19991029]98-551_Vietnam Economic Reforms and Commercial Relations with the United States.pdf

1For background, see CRS Report 96-489, “Vietnams Transition to A Market Economy,” by(name redacted), Congressional Research Service, May 30, 1996, 6 p.Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS Web98-551 FUpdated October 29, 1999Vietnam: Economic Reforms and CommercialRelations with the United States(name redacted)Specialist in Trade RelationsForeign Affairs, Defense, and Trade DivisionSummaryVietnam has made considerable progress in implementing economic reforms since1986. The reforms have nudged Vietnam to a more market-oriented economy and havefacilitated higher rates of economic growth, particularly during 1988-1996. Momentumfor deepening the reforms, however, has stalled in recent years, and since 1997, therehas been a significant decline in foreign investment, as well as a deterioration in theunderlying performance of the economy. To address these problems, multilateralinstitutions and U.S. officials have urged Vietnams leaders to initiate a second wave ofeconomic reforms that will make its economy more market-oriented and efficient.Vietnams leaders have moved cautiously in adopting additional economic reforms.Follow