Vietnam And Its Effects On The Country

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Vietnam is world’s 13th most populous country, majorly consisting of Viet and Kinh ethnic groups. Vietnam has Vietnamese as official language and some other languages exist in minority groups. Vietnam adopted “seclusion” policy which made the country isolated and faced a deep crisis which led them on brink of bankruptcy. After 1995, started globalizing and established relation with United States and Vietnam also became member of WTO in 2006. There are many aspects that helped Vietnam to grow faster. PESTLE (Political, Economic, Social, Technical, Legal and Environmental) analysis helps in analyzing overall business opportunities and ease of doing business in country. Vietnam PESTLE analysis is as follows:-
Vietnam is politically very stable and with one party control i.e. Communist Party, the country continues to achieve higher political stability. “Political” aspect is very important for Vietnam as the country continues to have many State Owned Enterprises (SOE) that play major roles in economy of the country. Therefore, it is important for Vietnam to have a stable government that is able to provide good governance and control over SOEs and other business activities. There are some good decisions taken by current government such as freedom of press. However, the country faces some disputes over certain matters such as Vietnam – China and U.S. – Vietnam tensions are major concerns for government. These tensions make it difficult for government to

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