Vietnam and the International Monetary Fund the "import substituting and non-tradable" sectors like construction and telecommunication as opposed to investment in exportable goods and services. In 2001, Vietnam sent a letter of intent to the IMF to receive a loan to fund the Poverty Reductions and Growth Funds arrangement. In order to create a greater macroeconomic stability for Vietnam they would rely on the monetary policy while under shock scenarios as it has proven to lift off interest rates. According to IMF records, Vietnam is still paying that loan and continues their membership with the IMF. Since 2012, the Vietnamese dong closely tied to the U.S.
Rice production in Vietnam development is attributed to the French who colonized Vietnam in the middle of the 19th century with the basic objective of exporting rice grown in the delta to meet its large costs of colonisation. They developed a maze of canal system in the delta to grow three rice crops in a year. During the World War II when the Japanese occupied Vietnam and exploited the rich delta by exporting rice to their country, it denied nearly several million Vietnamese of their basic staple. While Vietnam was occupied by Japan, the Allies, especially the United States, often bombed roads, making the