Geographically Vietnam is situated in the South East Asia with the total area of 329,314 sqm. km. It is touched by China on the north, by the Gulf on the south. Its maximum Surface is covered by rich agriculture land and chain of mountains. The climate is uneven due to the difference in latitude and the average temperature lies between 26 to 33 degrees. Hanoi is the capital of the Vietnam.
With the introduction of Doi Moi reforms, Vietnam has become one of the fastest growing economies in the world. In 2015, the economy grew by 6.68 percent, better performance the government’s 6.2 percent estimates and per capita GDP is 6,000 US$.The GDP growth forecast is expected to between 6 to 6.25 in 2016 and 6.2 to 6.5% in 2017. In the first half of the year 2016 Manufacturing, construction, and services expanded robustly in the country.
Vietnamese culture is heterogeneous from North to South. Differences in historical background and financial condition from the North to the South of Vietnam led to some cultural and political differences. The culture of Vietnam is very close to Chinese culture because of its long association with China.
Vietnam is committed to global economic integration through the participations in APEC, the ASEAN Free Trade area and being 150th member of WTO. Bureaucracy, corruption, and red-tape characterize every aspect of social and business life.
Political power lies with a single communist party CPV (Communist Party of Vietnam) which is headed by the party general secretary. It is the most important force in every part of the society followed by government institutions and then private sector and the media.
Having successfully kept the big powers (China, France, and the US) away from controlling the country; patriotism is a strong component of country’s psyche. Till today 5 million people are affected by the after-effects of the Vietnam War.
Vietnamese culture is multi-layered and heterogeneous throughout the country. In general, the Vietnamese culture can be described as a high power distance, high collectivism, moderate high certainty avoidance and high context. Vietnam is a Buddhist or Confucian country. Religion plays a vital role in the country’s social life
The organizational culture of Vietnam Electricity (SOE) is the monopolistic corporation which reflects the national culture to a large extent at different levels.
The study reveals that Vietnam faces several social and economic challenges. Transforming rural economy, human capacity, human rights, improving environmental quality and civil society participation in decision-making processes are some of the main areas which need attention.
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