Improving Macro Fundamentals and Infrastructure
The country’s macro picture is considerably better than five years ago. Foreign reserves have tripled to $34 billion. Interest rates have come down from 20% to 8%. Inflation has fallen from 18.7% to just 0.6%. Meanwhile, annual economic growth remains pretty stable in the 6% to 7% range.
Vietnam’s infrastructure is improving as well with 267,000 km of roads and 1.49 cell phones per person. The economy is well-diversified and the country is rich in resources and has become an energy exporter.