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Đổi Mới
(; ) is the name given to the economic reforms process of Vietnam since late 1986 with the goal of creating a " socialist-oriented market economy". The term itself is a general term with wide use in the Vietnamese language meaning "innovate" or "renovate". However, the Đổi Mới Policy () refers specifically to these reforms that sought to transition Vietnam from a command economy to a socialist-oriented market economy. The economic reforms in the Soviet Union under Gorbachev inspired the Vietnamese government. However, unlike the Soviet Union but like China, the communist rulers in Vietnam refused political reform. The Đổi Mới economic reforms were initiated by the Communist Party of Vietnam (CPV) in December 1986 during the party's 6th National Congress. Vietnam learned from China's reform experience but with more conservative level. These reforms introduced a greater role for market forces for the coordination of economic activity between enterprises and governm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Socialist-oriented Market Economy
The socialist-oriented market economy ( Vietnamese: ''Kinh tế thị trường định hướng xã hội chủ nghĩa'') is the official title given to the current economic system in Vietnam by the ruling Communist Party. It is described as a multi-sectoral market economy where the state sector plays the decisive role in directing economic development, with the eventual long-term goal of developing socialism. The socialist-oriented market economy is a product of the '' Đổi Mới'' (innovation) economic reforms process which led to the replacement of the centrally planned economy with a market-based mixed economy based on the predominance of state-owned industry. These reforms were undertaken to allow Vietnam to integrate with the global economy. The term "socialist-oriented" is used to highlight the fact that Vietnam has not yet achieved socialism and is in the process of building the basis for a future socialist system. The economic model is similar to the socialist ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
