Vietnam’s Socio-Economic Development

Economic institutional renovation in Vietnam from 1986 to the present: An analysis of liberalization, equitization, and administrative reform

Nguyen Dinh Ngan — 2026-03-20

The article analyzes the process of economic institutional renovation and reform in Vietnam from 1986 to the present, focusing on three principal pillars: economic liberalization, equitization of state-owned enterprises, and administrative reform. Drawing upon major economic theoretical frameworks, the study clarifies the role of institutions in reducing transaction costs, protecting property rights, promoting innovation, enhancing productivity, and strengthening national competitiveness. Prominent reforms include the equitization of state-owned enterprises, the restructuring of the public sector, the simplification of administrative procedures, the reform of the legal framework, and commitments to international integration. These measures have played a critical role in transforming Vietnam from a centrally planned economy in systemic crisis into one capable of sustaining high growth rates, deeply integrating into global value chains, and improving its Human Development Index. The findings suggest that sustaining development trajectories will require continuing to refine its economic institutions toward greater transparency, coherence, and adaptability amid globalization, the Fourth Industrial Revolution, and digital transformation.

Economic growth based on science, technology, and innovation in Vietnam

Ly Dai Hung — 2026-03-20

In Vietnam, the contribution of science and technology to economic growth remains low, investment by the business sector in innovation is weak, and the quality of human resources does not yet meet requirements. These facts differ from the policy ideas defined since the 1990s. The main reasons are the heavily bureaucratic characteristic of science management mechanisms, the inconsistency in institution design, and especially, limitations in mobilizing and allocating capital for science and technology. Looking to the future, the process of growth based on science and technology in Vietnam faces challenges in choosing the appropriated time to transform the growth model and selecting the suitable quantities to expand fiscal and monetary policies to achieve high growth while maintaining macroeconomic stability.

The private economic sector in Vietnam’s socialist-oriented market economy: Development trajectory, performance, and policy directions

Tran Dinh Nuoi 1, Nguyen Ngoc Huy 2 — 2026-03-20

This article analyzes the formation, development and role of the private sector in the Vietnamese economy since the Doi Moi (Renovation) in 1986. Based on a synthesis ofthe Communist Party of Vietnam’s documents, State policies, research and official statistical data, the authors assess changes in institutions, thinking and practice of private sector development through each historical period. The article also identifies the barriers and opportunities of this sector in the context of international integration, digital transformation and economic restructuring, thereby providing appropriate policy orientations and recommendations to maximize the role of the private economy as an important pillar of the Vietnamese economy
in the forthcoming development phase.

Vietnam’s human resources through 40 years of Doi Moi

Ma Ngoc Nga (1), Nguyen Thi Kim Chi (2), Nguyen Thi Trang (3) — 2026-03-20

This article employs a qualitative analytical approach, utilizing secondary documentation and data, to examine the human resource development policies of the Communist Party of Vietnam and Government of Vietnam throughout the Doi Moi (Renovation) periods. The study subsequently assesses the outcomes across the dimensions of scale, structure, and quality. The analysis reveals a distinct “upgrade” in the human resource development directives and policies: the perspective on human resource has evolved from a general approach to a strategic and more open one; the objectives have become increasingly specific and ambitious; and the solutions are more diverse and contemporary, aligning with the context of globalization and the Fourth Industrial Revolution. Over the past 40 years, the scale, structure, and quality of Vietnam’s human resources have undergone positive transformations, enabling the nation to capitalize on its demographic dividend for industrialization and modernization. Nonetheless, the deficit of high-quality human resources currently constitutes a critical “bottleneck” hindering sustainable economic growth.