ISEAS Publishing
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Labour in Vietnam, 2011, 1, pp. 1 - 12
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It has been three decades since Vietnam began to liberalize its planned economy and two-and-a-half decades since the policy of Doi Moi (renovation) was officially introduced. Today, alongside China, Vietnam is an "economic miracle" - a Communist Party-led state that has successfully transfonned its economy and whose export industry is internationally competitive. With an average GDP growth rate of almost 7 per cent over this entire period of transfonnation, Vietnam is one of the fastest-growing economies in the world. It has become an attractive destination for foreign direct investment (FDI) in good part because Vietnamese labour is considered "cheap", at about half the wage level of China.
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