|Bill Gates' visit to Viet Nam has contributed to the IT development in the country|
Viet Nam is expected to become a full member of the World Trade Organisation (WTO) next week, a move which will help the country catch up with its economically successful neighbours, the UK’s BBC said in a report entitled “Viet Nam prepares for boom times.”
The report said that Viet Nam “is making waves.” The country, which had to import rice 20 years ago, has now become the biggest rice exporter in the world. Viet Nam is also exporting steel, computer parts, and now highly skilled outsourced services.
The report added that Viet Nam has recently unveiled big reforms which legitimised private business and turned many state-owned firms into shareholder-owned companies. The impact has been as dramatic as the Chinese industrial revolution. Foreign investment is pouring into the country.
Viet Nam now attracts more overseas investment than India and it is second only to China in the Asian economic growth league. Fifty percent of the population is aged 35 or under and they are well-educated, and very ambitious, BBC said.