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Indeed, its rapid development recalls Vietnam's opening up, the doi moi, in the late 1980s, after decades of war and isolation.The opportunities for foreign investors are plain.
The first round of reform, called doi moi, was started in 1986, only to fizzle out in the early 1990s.
"Organisations and individuals paying tax is a factor to push national economic growth and the national budget!", declares one.Since the start of the doi moi reforms 22 years ago a great deal has changed in Vietnam, almost all for the better.
It is too soon to gauge whether this will mark a second doi moi, the name given to the market-opening reforms that began with the sixth congress in 1986.
More than 20 years after Vietnam began its doi moi market-based reforms, communist dourness is a dim memory.
Many of the foreign investors drawn by the package of reforms known as doi moi ("restructuring", or perestroika) launched in 1986 have experienced nothing but frustration.
This year it has one of the rotating seats on the UN Security Council.Vietnam's Communists conceded economic defeat 22 years ago, in the depths of a crisis, and brought in market-based reforms called doi moi (renewal), similar to those Deng Xiaoping had introduced in China a few years earlier.
Vietnam will still be saddled with a charter that barely recognises the profound transformation it underwent with doi moi ("renovation") in 1986, let alone the rapid changes since.China's example is not much help here, even though it too has been debating its constitution.
But some 15 years after reform and nervous liberalisation began (a process called doi moi) the government still dithers: how far and how fast can Vietnam become a capitalist country without threatening the party's power?Related topics Asia East Asia China Chinese politics Asia-Pacific politicsTake the year's big news, a trade deal signed in July with the old imperialist enemy, America.
A spate of other arrests last year suggests a wider clampdown.Ever since the start of doi moi (renewal) reforms in 1986, economic liberalisation has been accompanied by a gradual political loosening.
