Relationship between the State and the market and institutional reform in Vietnam

Relationship between the State and the market and institutional reform in Vietnam

Relationship between the State and the market and institutional reform in Vietnam

The relationship between the state and the market and institutional improvement of the socialist-oriented market economy in Vietnam have been associated with the transition from centrally planned economy to market economy. Over more than 30 years of “Doi Moi”, the state-market relationship has had many adjustments, especially in determining the roles of the state and of the market in the economy. However, the state-market relationship still has many issues that need to be addressed. In addition, improving institutions of socialist oriented market economy was considered by the XIth Congress of the Communist Party of Vietnam as one of three strategic breakthrough missions in the 2011-2020 period. After almost 10 years of implementation, the strategic breakthrough mission of improving economic institutions has generated many positive outcomes but economic institutions are still recognized as one major obstacle for the socio-economic development. For having basis to propose suggestion on the state-market relationship and the improvement of institutions of the socialist-oriented market economy in coming time, especially for the 2021-2030 period, it is critically important to summarize, evaluate the implementation results of the 2011-2020 period and then construct goals and propose effective solutions for the next period.

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