Political and economic reforms launched in 1986 have transformed the country from one of the poorest in the world, with per capita income around US $100, to lower middle income status within a quarter of a century with per capita income of around US$ 2,100 by the end of 2015. Vietnam’s per capita GDP growth since 1990 has been among the fastest in the world, averaging 5.5 percent a year since 1990, and 6.4 percent per year in the 2000s. Vietnam’s economy continued to strengthen in 2015, with ...

Political and economic reforms launched in 1986 have transformed the country from one of the poorest in the world, with per capita income around US $100, to lower middle income status within a quarter of a century with per capita income of around US$ 2,100 by the end of 2015.

Vietnam’s per capita GDP growth since 1990 has been among the fastest in the world, averaging 5.5 percent a year since 1990, and 6.4 percent per year in the 2000s. Vietnam’s economy continued to strengthen in 2015, with estimated GDP growth rate of 6.7 percent for the whole year.

The Vietnamese population is also better educated and has a higher life expectancy than most countries with a similar per capita income. The maternal mortality ratio has dropped below the upper-middle-income country average, while under-five mortality rate has fallen by half, to a rate slightly above that average. Access to basic infrastructure has also improved substantially. Electricity is now available to almost all households, up from less than half in 1993. Access to clean water and modern sanitation has risen from less than 50 percent of all households to more than 75 percent.

Vietnam’s Socio-Economic Development Strategy (SEDS) 2011-2020 gives attention to structural reforms, environmental sustainability, social equity, and emerging issues of macroeconomic stability. It defines three “breakthrough areas”: promoting human resources/skills development (particularly skills for modern industry and innovation), improving market institutions, and infrastructure development.

In addition, the five-year Socio-Economic Development Plan 2011-2015 focused on three critical restructuring areas - the, banking sector, state-owned enterprises and public investment that are needed to achieve these objectives. The recent draft of the SEDP 2016-2020 acknowledges the slow progress of the reform priorities of the SEDP 2011-2015. With agriculture still accounting for almost half the labor force, and with significantly lower labor productivity than in the industry and services sectors, future gains from structural transformation could be substantial. The transformation from state to private ownership of the economy is even less advanced. The state also wields too much influence in allocating land and capital, giving rise to heavy economy wide inefficiencies. So, adjusting the role of the state to support a competitive private sector-led market economy remains a major opportunity. This will be important for enhancing productivity growth which has been stagnating for a long time.

(https://www.vn.undp.org/content/vietnam/en/home/countryinfo.html)

It took Vietnam about _______ years to move from the poorest to the middle income status?