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Political parties and leaders: only party - Communist Party of Vietnam
or CPV

International organization participation: ACCT, APEC, AsDB, ASEAN,
CCC, ESCAP, FAO, G-77, IAEA, IBRD, ICAO, ICRM, IDA, IFAD, IFC, IFRCS,
ILO, IMF, IMO, Inmarsat, Intelsat, Interpol, IOC, IOM (observer), ISO,
ITU, NAM, OPCW, UN, UNCTAD, UNESCO, UNIDO, UPU, WCL, WFTU, WHO, WIPO,
WMO, WToO, WTrO (applicant)

Diplomatic representation in the US:
chief of mission: Ambassador LE VAN BANG
chancery: 1233 20th Street NW, Washington, DC 20036, Suite 400
telephone: (202) 861-0737
FAX: (202) 861-0917
consulate(s) general: San Francisco

Diplomatic representation from the US:
chief of mission: Ambassador Douglas B. "Pete" PETERSON
embassy: 7 Lang Ha Road, Ba Dinh District, Hanoi
mailing address: PSC 461, Box 400, FPO AP 96521-0002
telephone: (4) 8431500
FAX: (4) 8350484
consulate(s) general: Ho Chi Minh City

Flag description: red with a large yellow five-pointed star in the
center

@Vietnam:Economy

Economy - overview: Vietnam is a poor, densely populated country that
has had to recover from the ravages of war, the loss of financial
support from the old Soviet Bloc, and the rigidities of a centrally
planned economy. Substantial progress was achieved from 1986 to 1996
in moving forward from an extremely low starting point - growth
averaged around 9% per year from 1993 to 1997. The 1997 Asian
financial crisis highlighted the problems existing in the Vietnamese
economy but, rather than prompting reform, reaffirmed the government's
belief that shifting to a market oriented economy leads to disaster.
GDP growth of 8.5% in 1997 fell to 4% in 1998 and rose slightly to an
estimated 4.8% in 1999. These numbers masked some major difficulties
that are emerging in economic performance. Many domestic industries,
including coal, cement, steel, and paper, have reported large
stockpiles of inventory and tough competition from more efficient
foreign producers. Foreign direct investment has fallen dramatically,
from $8.3 billion in 1996 to about $1.6 billion in 1999. Meanwhile,
Vietnamese authorities have slowed implementation of the structural
reforms needed to revitalize the economy and produce more competitive,
export-driven industries. Privatization of state enterprises remains
bogged down in political controversy, while the country's dynamic
private sector is denied both financing and access to markets. Reform
of the banking sector - considered