Private business hopes for bigger role in Vietnam economy

January 28, 2016 5:58 AM

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BAT TRANG, Vietnam — After a decade of uneven progress, foreign and local businesses hope the reshuffled leadership of Vietnam’s ruling Communist Party will double down on modernizing an economy dominated by state companies.

Once a much-hyped rising star among developing Asian nations, foreign perceptions of Vietnam have swung between fears it was on the verge of a financial collapse to seeing it as a rival to China as the world’s factory floor.

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