Institutional improvement and legal

Institutional improvement and legal reform in Vietnam
In the process of transition from the centrally-planning economy to the market economy, the economic reform in Vietnam has gained significant achievements. The annual average growth of GDP was approximately 7%. The total amount of mobilized investment for the country’s development purposes has increased by 18.2% per year, of which domestic investment accounted for 67.2%, and registered foreign direct investment (FDI) was 7 times higher than the figure in the previous 5 years combined. The country’s GDP in 2010 has doubled the GDP in 2005; GDP per capita is about USD 1,200. Despite of the recent economic recession in the region and in the world (especially economic and financial crisis in 2008 and public debt crisis in 2011), the national economy of Vietnam has developed stably and achieved important projected purposes.