Due to high transaction costs, poor logistics performance, and a proliferation of nontariff barriers, South Asia was one of the least integrated regions in world trade until 2012.
A healthy level of private investment is essential for Viet Nam to achieve the 7%–8% annual economic growth rate and the 8 million new jobs it has targeted under the Socio-Economic Development Strategy, 2011–2020. Increasingly, such contribution is expected to come from the domestic private sector, largely composed of small and medium−sized enterprises (SMEs).
Tourism is one of the most dynamic sectors of the world. With total global demand reaching $7 trillion in 2007, it accounted for around 10% of the global gross domestic product and employed 240 million people. International tourist arrivals exceeded 880 million, with total receipts estimated at $700 billion.
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