Some facts about Vietnam 1. Geographic area is about the size of California. Real unemployment rate is high, although the official statistic is low. People used to moonlight, or do several jobs to make a living. Working overtime is not unusual.
Foreign investment is an important factor for economic development.
Foreign investment increased very quickly from 1990 to 1996, leveled off and even decreased during 1997-1999. The Asian crisis was one of the reasons. Many Asian companies did not have money to invest. Other Asian countries devaluated their currency, effectively reducing their labor cost. These countries became strong competitors for investments from European and US companies.