Vietnam Economic Renovation Policy and Industrialization

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Chayanee Chawanote

Abstract

This study aims to investigate Vietnam economic renovation policy, Doi Moi, and its effects on Vietnam’s industrialization by applying the New Structural Economics framework that focuses on industrial upgrading with dynamic factors of endowment and supportive soft and hard infrastructure. The Doi Moi policy has substantially changed Vietnam economy into more market-oriented. The analyses, using data from different sources and information from previous studies, show that Vietnam continuously improves its competitiveness and exports more advanced technology products compared to the past 30 years. The main problems, however, are less technology transfers and linkages to local enterprises, as well as lack of skilled labors, resulting in limiting industrialization process. There are still unequal policy implementations among state-owned enterprises, non-state domestic enterprises, and foreign invested enterprises, which are not in line with each group’s performance. Moreover, inadequate and inefficient infrastructure, both physical and institutions, impedes industrialization and results in middle-income trap in the meantime.

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สัมภาษณ์เพิ่มเติม
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