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In the later 1970s and 1980s, to cope with development difficulties, most nations in the socialism system tried to explore their own paths towards development. These included the "Reform" of the Soviet Union and China and "Doi Moi" in Vietnam. Due to the leading socialist state, the Soviet Union's failed "Reform," the whole socialist system began to fall apart and most of its countries have shifted towards capitalism-based development. However, China and Vietnam have remained consistent in their socialist paths, maintaining suitable methodologies through respective reforms. Given this line of reasoning, this article objectively shares some achievements and challenges Vietnam has encountered over the past thirty years of renovation and offers implications for the developmental process.
Keywords Vietnam, economic development model, socialist reform
Introduction: Regarding the Innovative Breakthrough of Vietnam in 1986
After the great victory of spring 1975, Vietnam unified the country and formed a subjective ideology to rapidly accelerate the country towards socialist model in a short time. Due to many objective and subjective reasons, including economy management, the shortcomings of the centralized planning system and subsidy model were revealed quite severely, leading the country to gradually fall into serious socio-economic crisis. In such circumstances, the vital issue is to bring the country out of crisis. To achieve this, Vietnam had to drastically change its way of thinking and implementation development within the country. Since then, there have been new research findings and ways of doing business, providing novel answers to the questions raised.
The 6th Session of the Fourth Plenum in 1979, with the policy of "making production burst," was the first breakthrough in the process of exploration and experimentation. The conference advocated to (1) stabilize food obligations for five years; (2) sell the surplus to the State or freely trade; (3) encourage people to take advantage of fallow ponds and fields; (4) promote animal husbandry in all forms; (5) revise food taxes and food prices to encourage production; and, (6) revise the internal distribution regime of agricultural cooperatives, remove the quantitative/capitation distribution method, among other agendas. The Resolution of the 6th Central Session was quickly accepted by the people and turned into action, specifically in economic practice. Only in a short time, there have been many examples of new ways...