During the 1970s the Communist Party dominated almost all walks of life in Vietnam. This strict control, especially in regard to the economy, failed to achieve sustainable development. Vietnamese authorities then began to pursue a policy of openness to the outside world, and the Doi Moi, or “renovation,” was launched in 1986. As a result of this and other gradual reforms, Vietnam has become one of the fastest-growing economies in Asia, with annual GDP growth averaging 7.1 percent between 2000 and 2012—a rate that the country is expected to sustain over the next decade. In this context, Gulf Cooperation Council (GCC)-Vietnam relations are promising and may develop steadily over the coming years.