Reduction of Poverty in Vietnam

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The Reduction of Poverty in Vietnam Vietnam is a poor country; it has a poor rural population, and its urban population exhibits economic disparity. The Vietnam War devalued the nation's rich agricultural lands, as well destroying the culture of a population rich in French tradition. The entire country is economically poor. Many who live in the mountainous regions lack the ability to provide themselves with the basic needs of food, clean water, clothing, and shelter. The situation is not beyond hope, however; Vietnam has the potential to lower its poverty rate if foreign investment is encouraged, healthcare is improved, and the educational system is enhanced. One of the ways that Vietnam will reduce poverty within its borders is to encourage foreign investment, and updates to Vietnam's foreign investment laws within the last ten years will do just that. If the nation can secure more capital from foreign investors, the country will have the potential to reduce its poverty rate. Since its recent admission into the World Trade Organization (WTO), Vietnam's economy has expanded rapidly. The economy is now one of the fastest growing in the entire world. A rapid influx of foreign capital has enabled the nation to attract new firms and to develop a thriving import and export business. The Gross Domestic Product (GDP) has continued to grow and trade volume has expanded rapidly. An expected influx of new investment capital will provide jobs in the future; over 100 of the Fortune 500 companies in America have prepared to invest in over 230 FDI projects that will increase the amount of exploration and exploitation of the oil and gas industries, increased car and motorcycle manufacturing, and result in a significant upgrading of the garment, textile, and food and beverage industries. As FDI increases, the number of jobs in these industries increase and conversely, the
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