Anyone who visits Vietnam’s bustling metropolises — Hanoi, Ho Chi Minh City or Da Nang — will be impressed by the dynamism of the local economy. There is constant construction underway, a plethora of new restaurants and shops popping up, heavy motorcycle traffic on the streets, conspicuous consumption of food, coffee and beer, and imported luxury items sold at upscale department stores.
Yet, more than 20 years after the communist government passed the Enterprise Law, making it easier for private companies to register themselves legitimately, there is still a noticeable dearth of a dynamic private sector.
