Note on Vietnam's Business Climate Case Solution
This article outlinesthe company’sclimate confronting entrepreneurs in reform-era Vietnam around 1996. The most outstanding facet of Vietnam's reforms was that, despite the lack of official privatization, the private sector was the impetus to Vietnam's impressive economic growth and burgeoned. Entry of new businesses had been a strong power in Vietnam thus, given the lack of the market-supporting institutions that are generally regarded as a prerequisite to entrepreneurship.
Entrepreneurs had to defeat a host of impediments, for which they frequently formulated their own ad hoc strategies: marketplaces were geographically limited, the monetary markets were difficult to enter for most entrepreneurs, rules for licensing were strange, corruption became common as well as the government owned companies started becoming strong, and there was little legal foundation for private trades.
This is just an excerpt. This case is about GLOBAL BUSINESS
PUBLICATION DATE: March 28, 2003
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