Development Context. In 2010, Viet Nam attained lower middle-income country status and is now well settled in the ranks of countries that have achieved medium human development. Over the past two decades, Viet Nam has achieved rapid economic growth and has significantly reduced overall poverty rates, from 58.1 percent in 1993 to 14.5 percent in 2008, raising the living standards of the entire population. The country is on track to meet, or has met, a majority of the Millennium Development Goals at a national level. The country’s institutions are more sophisticated and mature after two decades of doi moi (renovation) reform, with increased engagement and participation in particular by the National Assembly and the media. Viet Nam is also increasingly engaged in global and regional institutions, having acceded to the World Trade Organization in 2007, and was a non-permanent member of the UN Security Council (2008-2009) and Chair of the Association of South-East Asian Nations (ASEAN) in 2010.
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