Increasingly, Vietnam has recognized the importance of global economic interdependence and has made concerted efforts to adjust its foreign relations to reflect the evolving international economic and political situation in Southeast Asia. The country has begun to integrate itself into the regional and global economy by joining international organizations. Vietnam has stepped up its efforts to attract foreign capital from the West and regularize relations with the world financial system. In the 1990s, following the lifting of the American veto on multilateral loans to the country, Vietnam became a member of the World Bank, the International Monetary Fund, and the Asian Development Bank. The country has expanded trade with its East Asian neighbor"s as well as with countries in western Europe and North America. Of particular significance was Vietnam's acceptance into the Association of Southeast Nations (ASEAN) in July 1995. Vietnam joined the Asia-Pacific Economic Cooperation forum (APEC) in November 1998 and hosted the ASEAN summit in 2001. [Vietnam currently holds observer status in the World Trade Organization (WTO) and is applying for full membership.]

Vietnam Political Form of State: The Socialist Republic of Vietnam is a single-party state. A new state constitution was approved in April 1992, replacing the 1975 version. The central role of the Communist Party was reasserted in all organs of government, politics and society. Only political organizations affiliated or endorsed by the Communist Party are permitted to contest elections. These include the Vietnamese Fatherland Front, workers and trade unionist parties. Although the state remains officially committed to socialism as its defining creed, the ideology's importance has substantially diminished since the 1990s. The President of Vietnam is the titular head of state and the nominal commander in chief of the military of Vietnam, chairing the Council on National Defense and Security. The Prime Minister of Vietnam is the head of government, presiding over a council of ministers composing of 3 deputy prime ministers and the heads of 26 ministries and commissions.

The National Assembly of Vietnam is the unicameral legislature of the government, composed of 498 members. It is superior to both the executive and judicial branches. All members of the council of ministers are derived from the National Assembly. The Supreme People's Court of Vietnam, which is the highest court of appeal in the nation is also answerable to the National Assembly. Beneath the Supreme People's Court stand the provincial municipal courts and the local courts. Military courts are also a powerful branch of the judiciary with special jurisdiction in matters of national security. All organs of Vietnam's government are largely controlled by the Communist Party. Most government appointees are members of the party. The General Secretary of the Communist Party is perhaps one of the most important political leaders in the nation, controlling the party's national organization, state appointments and setting policy. (Source: www.wikipedia.org).