Đổi Mới

Doi Moieconomic reformeconomic liberalizationRenovation1986 economic reformDoi Moi programeconomic and political reformseconomic reformsin Vietnamliberalizing its economy
Đổi Mới ("Renovation") is the name given to the economic reforms initiated in Vietnam in 1986 with the goal of creating a "socialist-oriented market economy".wikipedia
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Vietnam

Viet NamSocialist Republic of VietnamViệt Nam
Đổi Mới ("Renovation") is the name given to the economic reforms initiated in Vietnam in 1986 with the goal of creating a "socialist-oriented market economy".
After North and South Vietnam were reunified under a unitary socialist government in 1976, the country became economically and politically isolated until 1986, when the Communist Party initiated a series of economic and political reforms that facilitated Vietnamese integration into world politics and the global economy.

Socialist-oriented market economy

market mechanism economysocialist orientationssocialist-oriented market
Đổi Mới ("Renovation") is the name given to the economic reforms initiated in Vietnam in 1986 with the goal of creating a "socialist-oriented market economy".
The socialist-oriented market economy is a product of the Đổi Mới economic reforms which led to the replacement of the centrally planned economy with a market-based mixed economy based on the predominance of state-owned industry.

6th National Congress of the Communist Party of Vietnam

6th National CongressSixth National CongressSixth National Party Congress
The Đổi Mới economic reforms were initiated by the Communist Party of Vietnam in 1986 during the party's 6th National Congress.
The congress is noteworthy because of the introduction of economic reforms, labelled Đổi Mới (Renovation), and the election of a new party leadership.

Communist Party of Vietnam

Vietnamese Communist PartyCommunist PartyCommunist
The Đổi Mới economic reforms were initiated by the Communist Party of Vietnam in 1986 during the party's 6th National Congress.
The new leadership elected at the Congress would later launch Đổi Mới and establish the framework for the socialist-oriented market economy.

Nguyễn Văn Linh

Nguyen Van Linh
In December 1986, the Sixth Party Congress elected as Party Secretary the more liberal Nguyễn Văn Linh, a reformist and former leader of the National Liberation Front.
During his time in office, Linh was a strong advocate of "Đổi Mới" (renovation), an economic plan whose aim is to turn Vietnam economy to a socialist-oriented market economy.

Võ Văn Kiệt

Prime Minister KiệtVo Van Kiet
Võ Văn Kiệt, a Deputy Chairman of the Council of Ministers, delivered the Economic Report to the 6th National Congress.
In the difficult years following the war, he was one of the most prominent political leaders that led the innovation (Đổi mới) policy in Vietnam.

Economic history of Vietnam

subsidy periodeconomicSeventeenth-Century Vietnamese Economy
In 1986 Vietnam launched a political and economic renewal campaign (Doi Moi) that introduced reforms intended to facilitate the transition from a centrally planned economy to form of market socialism officially termed "Socialist-oriented market economy."

Socialist market economy

Chinese modelSocialism with Chinese characteristicscapitalism in China
The Đổi Mới in the Socialist Republic of Vietnam later adopted the concept.

Five-Year Plans of Vietnam

Second Five-Year PlanThird Five-Year PlanFive Year Plans
The country's new economic emphasis, Doi Moi, was instituted by Nguyễn Văn Linh following the sixth national party congress in 1986.

Planned economy

command economycentrally planned economyplanned economies
However, the Doi Moi Policy (Chính sách Đổi Mới) refers specifically to these reforms which sought to transition Vietnam from a command economy to a socialist-oriented market economy.

Comecon

Council for Mutual Economic AssistanceCMEACouncil for Mutual Economic Assistance (Comecon)
From the late 1970s until the early 1990s, Vietnam was a member of the Comecon, and therefore was heavily dependent on trade with the Soviet Union and its allies.

Soviet Union

SovietUSSRSoviets
From the late 1970s until the early 1990s, Vietnam was a member of the Comecon, and therefore was heavily dependent on trade with the Soviet Union and its allies.

Lê Duẩn

Le Duanmastery of the people over the country
One of the important developments which provoked change within the Party was the death of Party General Secretary, Lê Duẩn, who died in July 1986.

Viet Cong

VietcongViệt CộngNational Liberation Front
In December 1986, the Sixth Party Congress elected as Party Secretary the more liberal Nguyễn Văn Linh, a reformist and former leader of the National Liberation Front.

Cooperative

co-operativeco-opcooperatives
Specifically, in October and November 1978, cooperative leaders in the north were permitted to rent out fields to members during the winter as long as the latter produced winter crops collectively for required number of days and return the land in time for growing paddy in the spring.

Joint-stock company

joint stock companyJSCjoint stock
In 1990, Law on Private Enterprises which provided a legal basis to private firms was enacted, while Companies Law acknowledged Joint-stock company and private limited liability company.

Limited liability company

LLClimited liability companieslimited liability corporation
In 1990, Law on Private Enterprises which provided a legal basis to private firms was enacted, while Companies Law acknowledged Joint-stock company and private limited liability company.

Khmer Rouge

CambodiaCambodiancommunist
There were two types of goods smuggling from Cambodia; the first one included those left behind by victims of the Khmer Rouge, while the other were those imported from Thailand.

Marxism

MarxistMarxistsMarxist ideology
The Communist Party of Vietnam maintains that the socialist-oriented market economy is consistent with the classical Marxist view of economic development and historical materialism, where socialism can only emerge once material conditions have been sufficiently developed to enable socialist relations.

Globalization

globalisationglobalizedglobal
The socialist-oriented market model is seen as a key step for achieving the necessary economic growth and modernization while being able to co-exist in the contemporary global market economy and benefit from global trade.

Economy of Vietnam

Vietnamese economyVietnamcurrent economic system
Since the mid-1980s, through the Doi Moi reform period Vietnam has made a shift from a highly centralized command economy to a mixed economy that uses both directive and indicative planning through five-year plans.

Automotive industry in Vietnam

Automobile Productionautomotive industryVietnam
Before the Đổi Mới, automobile ownership in Vietnam was very limited and the vehicles present were imported from Second World countries that were more politically aligned with the government.