Vietnam and WTO Membership Implications

Vietnam was admitted to WTO as its 150th member in January 2007. This paper provides an overview of Vietnam's current situation, noting some of the more significant social, political and economic developments at this time. The aim is to highlight the diverse, practical factors, ranging across the many political and social dimensions which have hindered Vietnam's reform agenda to date and adversely affected its international image. The perspective is, firstly, that of the international community in general and, secondly, that of the overseas Vietnamese. The author suggests Vietnam will soon face two critical challenges. On one side, Vietnam will encounter intense commercial scrutiny/challenge from the growing number of foreign companies interested in doing business in Vietnam. On the other side, Vietnam will experience a host of political demands from the Overseas Vietnamese for social reform and further liberalization which has gained momentum internationally.