The government changed leadership this past summer and a reformist is now in power. Vietnam is trying to have a market economy with socialist angles. The constant in Vietnam is the strong Communist party, which prevails even in legal cases. The government is concerned with capitalization but is very protective of state-owned enterprises, which is bringing down the economy. They are trying to privatize - but it is more in rhetoric than what is actually happening.
Corruption is hard to control as there is no strong national government.
Any economic activity, efforts, or transactions, must be cleared with the People's Committee. You need to study and spend at least 6 months researching to see if the Vietnamese will buy your product. Japan does the best in Vietnam as their businessmen take 6-8 month intensive Vietnamese language training before going to the country. It is important to find and develop a Vietnamese counterpart who will help you develop trust. After establishing a counterpart, leave benefits behind for the Vietnamese businessmen, teach them and train them.