When I told a Vietnam vet here in the U.S. that I was headed to Vietnam, he joked that I should bring a gun. But I reached into my pocket and showed him the only weapons I would need in this communist country -- my Visa, ATM and American Express cards.
That was an understatement. Vietnam may still officially be a communist country but about the only reminders of that were the occasional hammer and sickle, the logo of the Communist Party, displayed on signs throughout various parts of Hanoi and vicinity.
I stopped in Vietnam on my way back from the CE Asia trade show in Shenzhen, China to satisfy my curiosity about a country that, during my youth, was an enemy of the United States government throughout the long and painful Vietnam War or "American War," as the Vietnamese call it. Many brave Americans of my generation fought in Vietnam, while other patriotic Americans marched in protest against the war.
Economy
Everywhere you go are signs of a market economy, a path that Vietnam has been on since 1986. From 1986 to 2006, according to Statfor, the economy grew at an average annual rate of 7.5% between 1991 and 2000 period. And, since 1992, Vietnam’s Constitution 1992 has recognized the role of the private sector.
As a result, the hammer and sickle weren't the only signs I saw. There were plenty of billboards advertising products, including a number promoting Samsung's new Galaxy S7 Edge, which was on sale at a store in Hanoi for 19,000,000 Vietnamese dong or about $852. I didn't see too many new high-end phones, but I saw plenty of smartphones, including quite a few slightly-older model iPhones.
Forbes Asia contributor, Johan Nylander recently reported that "Last year, Vietnam was one of the fastest growing economies in the Asia-Pacific region, with GDP growth of 6.7%, while manufacturing output was up 9.9%." He added that "Foreign direct investment into Vietnam was estimated at $22.8 billion in 2015, up 12.5% compared with 2014, according to IHS."
Vietnam's gross domestic product (GDP) was $171.4 billion USD in 2013, according to the World Bank. The World Bank also reports 2014 per capita income at $1,890 with a life expectancy of 76. According to NationMaster, the average after tax salary was $334.60 in 2014, ranking Vietnam at 128 out of 145 countries. A loaf of white bread, says the site, costs 81 cents. I didn't buy bread but I did get a good bowl of Pho in an Hanoi restaurant for about $1.00.
Explosive growth of mobile Internet
While I was in Hanoi I met with officials of the Vietnam Internet Association, an industry supported nonprofit that promotes the net in Vietnam. Chairman Vu Hoang Lien told me that the country currently has about 40% Internet penetration, mostly via mobile devices, though the website Internet Live Stats, put the percentage at 52% with over 49 million users. Lien also said that a fiber to the home initiative was launched in 2000 but that net access is relatively slow compared other Asian countries.
Social media is alive and well in Vietnam. I had no trouble accessing Facebook, Google, YouTube, Twitter, WordPress and Blogger.com. Twitter, Instagram and Snapchat are also popular in Vietnam, said Vu Hoang. In 2015, according to TuoitreNews.vn Facebook had 30 million active users in Vietnam, which is a third of the country's population.
Bloggers and censorship
While censorship wasn't obvious to this visitor, there are reports of imprisoned bloggers, according to Freedom House, which reports, "With 29 netizens imprisoned, Vietnam continues to be one of the worst jailers of bloggers in the world." In 2014, Forbes Asia Contributor Ralph Jennings reported that Vietnam is wielding its"criminal code to arrest bloggers who spread dissenting views among the country’s (then) 31 million netizens, more than a third of the population." Reporters Without Borders says that bloggers in Viegtnam "are permanent targets of extremely harsh forms of persecution including police violence."
Broader world
Despite these disturbing reports, my overall impression of Vietnam is a country anxious to be part of the broader world. Tourists and businesses are welcome and capitalism is alive and well. I'm looking forward to my next visit and using social media to stay in touch with the people I met in Vietnam.
