Part 4/11:
Doi Moi represented a critical transition from a centrally planned economy to a socialist-oriented market economy, effectively setting the stage for foreign direct investment (FDI) and a surge in living standards previously perceived as unattainable. By the 1990s, Vietnam had rolled out policies that opened its doors to global investors. Key trade agreements, including the 2001 U.S.-Vietnam Bilateral Trade Agreement, catalyzed an influx of foreign investment that exploded to nearly $8 billion by the early 2000s.