The country saw an increase of 250,000 foreign tourists in 1990 to 12.9 million people in 2017. In 2000, the total revenue from the tourism sector was VND 17,400 billion (US$745 million) and VND 510,000 billion (US$21 billion) in 2017, up to 30 times after 17 years. The remarkable growth came as a result of advertising programs for promoting tourism in the country. The Ministry also affirmed the Politburo Resolution No.08, issued in January 2017, on developing tourism into a spearhead economic sector by 2020, developing tourism in a sustainable manner, conserving and promoting cultural heritages and fine values of the nation, protecting the environment and nature, and maintaining defense, security and social order and safety. The Ministry of Culture, Sport and Tourism has asked relevant agencies, departments, and local authorities to strengthen the inspection of operation of travel companies, and increase fines for illegal travel agencies. By ANH PHUONG - … [Read more...] about Vietnam gains notable tourism achievements after 30 years of Doi Moi
Vespa doi moi
Recalling and recounting the attributes that he saw up close as an economist assistant to Do Muoi, Le Duc Thuy, 70, said the former Party leader was key to the success of the economic renovation program called doi moi launched in 1986. While he was working as deputy head of Vietnam Institute of Economics in 1988, Thuy was invited to work as assistant for Do Muoi, who was then Chairman of the Council of Ministers, in effect the Prime Minister, for one month. Later, Thuy learned that he got the invitation thanks to a suggestion by Le Xuan Tung, personal assistant to then Party General Secretary Nguyen Van Linh. Do Muoi, born Nguyen Duy Cong, had asked Tung to find him someone good in economics. Thuy had returned after completing a postgraduate course from the Soviet Union and made up his mind to continue working as a researcher for the rest of his life, he told VnExpress Tuesday. But Do Muoi told him: “It’s up to you. But if I let you sit in a position … [Read more...] about Do Muoi was crucial to doi moi’s success: economist
The opening of the economy more than 30 years ago has made Vietnam a prospering nation, Photo: Le Toan In mid-April, Vietnamese veteran economists gathered in Hanoi to discuss the country’s economic situation, swapping stories from various economic sectors, especially the private sector. Over the past three decades since Doi Moi was launched in 1986, the private sector has had open access to the economy, thanks to the Party’s resolutions, especially the most recent Resolution No.10-NQ/TW on developing the private economic sector into an important impetus for the socialist-oriented market-based economy. However, the private economic sector is now finding it difficult to grow further. “After numerous efforts to reform mechanisms and policies, the private sector’s contribution to the economy remains limited, currently accounting for only 9 per cent of the GDP, up less than 1 per cent over the past 10 years. Meanwhile, the state sector occupies 32 per cent of the … [Read more...] about From Doi Moi reforms to Vietnamese billionaires
This was the main theme of a recently held round-table discussion with the attendance of former Deputy Prime Minister Vu Khoan, Dr Tran Dinh Thien, director of the Vietnam Institute of Economics and Professor Vu Trong Phuc, former director of the Institute of Party History under the Ho Chi Minh National Academy of Politics. Reform is a continuous process Question: After 30 years of Doi Moi, what does Vietnam need to do to move the country forwards on the path of rapid and sustainable development? VU KHOAN: Some people say that it is time for a second round of reform. But I think reform is a continuous process - what was appropriate yesterday may not be relevant today. This is even truer with domestic and global contexts changing rapidly. The Doi Moi reform launched during the 1980s began with a breach of regulations in agriculture seen in the secret allocation of land to farmers. That act was later approved by the Central Committee, which helped change the life of farmers and … [Read more...] about What’s next for Vietnam after 30 years of Doi Moi?
Vietnam’s market-driven economy, socio-economic achievements, and position in the global marketplace can all be traced back to the launch of Doi moi three decades ago. VIR spoke to leading international organisations about the legacy of this policy. Eric Sidgwick - Country Director for Asian Development Bank in Vietnam Within a quarter of a century, political and economic reforms have transformed Vietnam completely and led the country rapidly toward a market economy. Under the Doi moi policy, Vietnam has undergone significant economic and institutional reforms to improve lagging productivity, generate economic growth, and raise the living standards of Vietnamese people. From one of the poorest countries in the world, Vietnam’s GDP per capita has increased six times over this period, while reducing the poverty rate from over 58 per cent in 1993 to just about 3 per cent today. Dramatic improvements in the country’s economy, in turn, have contributed to a steady … [Read more...] about Taking stock of Vietnam post-Doi moi