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
Vi ngot doi moi
Roundtable lauds nation’s doi moi (17-12-2005) HA NOI — Viet Nam has successfully managed three transitions in the space of 30 years - from war to peace, from central planning to market economy, and from a low to a middle-income country, said the senior United Nations official Jordan Ryan at an international meeting which ended yesterday. He was speaking at the Third High Level Roundtable Meeting, attended by leading international and Vietnamese scholars and experts, organised under the Assistance to the 20 Year Review of Doi Moi in Viet Nam project of the Viet Nam Academy of Social Sciences and the Swedish Agency for International Co-operation (SIDA) in the capital. Although Viet Nam’s doi moi (renewal) is used in reference to the nation’s transition to a market economy, it was never just a process of market transition, said Ryan, UN’s Resident Co-ordinator and the UN Development Programme’s Resident Representative. "From the beginning doi moi has … [Read more...] about Roundtable lauds nation’s doi moi
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
Vietnam has witnessed 30 years of Doi moi, with numerous achievements and difficulties along the way. The leaders of various embassies in Vietnam spoke about their perception of the country’s past, and their expectations for its future. Jean-Noël Poirier - French Ambassador to Vietnam One of the most outstanding changes concerns poverty reduction. From 1990 to 2013, GDP has been extensively multiplied. In addition, whereas half of the population used to be classified under the poverty threshold, today the ratio has been reduced to less than 12 per cent. Vietnam has also taken responsibility as a regional actor. In the past, Vietnam committed itself to a process of peaceful political reconciliation in the region. Its two-decade long involvement with neighbouring … [Read more...] about Foreign diplomats look back on 30 years of Doi Moi in VN