The purpose of this paper was to give an overview of economic development under
reform and world integration and to evaluate the main factors influencing the growth of
the Vietnamese economy during the reform period (1990-2008 (2009)). Based on
statistical data on the Vietnamese economy in the period of 1990-2008 (2009), this study
analyzed the factors affecting economic growth. The policy changes, economic
development, poverty rates and living standards of Vietnamese population are analyzed
over the reform period using qualitative methods. The results of this study show that
economic growth under reform and world integration has reduced the poverty rate and
increased living standards of population in Vietnam. An evaluation of the factors
influencing economic growth is made using a quantitative model of total factor
productivity (TFP) and another econometric model. The findings from this quantitative
analysis show that the growth of the Vietnamese economy was determined by two
factors: (1) capital investments, including foreign direct investment (FDI) and (2) the
growth of exports. The results of these qualitative and quantitative analyses lay the
foundation for policy recommendations for Vietnam Government to develop economy in
the future