Entrepreneurship In Vietnam

Vietnam went through a economic crisis during the 1980's with its peak being in 1988. This crisis caused a shortage of consumer goods which meant that large amounts of food had to be imported. Since then Vientam has gone through many changes which have made possible the acceleration of entrepreneural business. The Enterprise Law passed in 1998 was the catalyst for the growth of state owned and private enterprises.

The increased amount of entrepreneurs have contributed not only their own improvement but also to that of their country. Hundreds of brands from entrepreneural business are currently being sold in over 140 countries. Vietnam is directly behind china in the exportation of textiles and clothing. Although the competitiveness of the goods exported from Vietnam are still humble compared to other nations, Vietnam is constantly striving to increase the quality of goods produced. Vietnam has come a long way in recent years and is showing promise of becoming a strong competitor to watch out for in the near future.