Capital stock in Vietnam has increased manifold in the past decade, and has fuelled the country's strong economic growth.

Vietnam does not have extensive natural resources. Most of the country is heavily farmed. The country is self-sufficient in oil, gas and hydroelectricity however, which is a benefit. Crude oil is a major export commodity. Much of the other export commodities are farm-based (coffee, tea, rubber, rice).

Vietnam's technology and innovation is nascent. Telecommunications infrastructure is improving. Cell phone and Internet usage is rapidly growing. However, the country is a follower in terms of technological innovation. The education system does not support strong innovation. Development in other areas, such as pharmaceutical or manufacturing, is slow.

Vietnam's government can take several steps to address the deficiencies among the four wheels. They can improve technology and innovation in a couple of ways. One is to invest more in infrastructure. Another is to invest...
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