After President Bill Clinton visited Vietnam in 2000, a new era of Vietnam began.^[231] Vietnam has become an increasingly attractive destination for economic development. Over time, Vietnam has played an increasingly significant role on the world stage. Its economic reforms have significantly changed Vietnamese society and increased Vietnamese relevance in both Asian and broader international affairs. Also, due to Vietnam's strategic geopolitical position near the intersection of the Pacific and Indian oceans, many world powers have begun to take on a much more favorable stance towards Vietnam.

However, Vietnam also faces disputes, mostly with Cambodia over their shared border, and especially with China, over the South China Sea. In 2016, President Barack Obama became the 3rd U.S. Head of State to visit Vietnam. His historic visit helped to normalize relations with Vietnam. This improvement of U.S-Vietnam relations was further increased by the lifting of a lethal arms embargo, allowing the Vietnamese government to buy lethal weapons and modernize its military.^[232] Vietnam is expected to be a newly industrialized country, and also, a regional power in the future. Vietnam is one of Next Eleven countries.^[233]