Vietnam’s transformation in the early 1990s toward a market-based economy ushered in a period of strong growth and attracted significant foreign investment. Continued economic liberalisation, anchored by several international trade deals, has fostered a strengthening in the business climate, which outperforms other emerging Asian countries. Growth has remained at 6% or more per year since 2015 and higher than regional peers, a trend that is expected to continue. Creditworthiness is on par with emerging Asian peers. But per capita incomes remain less than half the regional average.
