Vietnam’s economic growth after WTO accession

Abstract

Vietnam has emerged as one of the great success countries in term of economic development in Asia. The economy has posted annual growth of around 7 percent in over two decades of Renovation since 1986. The country has also prospered since accession to the World Trade Organization (WTO), in 2007. Vietnam first time joined the group of medium income countries in 2010. Though, Vietnam’s economy still gained the high growth rate after WTO accession, but it had the downward trend in the aftermath of 2008 global financial crisis in parallel with internal weaknesses appearance. To boom in the next decades, Vietnam should focus on improve the quality of growth base on develop infrastructure, train a skillful labor force, and administrative reform. By employing the qualitative, quantity research tools and analysis, this paper focus on analyze the Vietnam’s economic growth after it acceded to the WTO in 2007.