Vietnam Service Sector Growth

This book provides an overview and examination of the Vietnamese services sector. Vietnam is growing rapidly as it transitions from a state-planned economy to a hybrid economy with an expanded private sector. Besides broadening its international trade relationships, in recent years Vietnam has committed to liberalising its industries and strengthening its intellectual property laws through bilateral treaties, regional associations, and accession to the World Trade Organization. Service industries account for a growing share of Vietnam's economy, as new businesses seek services like banking and logistics while consumers with rising income demand education, retail, and telecommunication services. Liberalisation and foreign investment have increased the supply of services in Vietnam, but many industries are still hampered by shortages of skilled workers and good infrastructure, and by a weak business environment in which regulations impede commerce and state-owned enterprises have many advantages.