Economy of Vietnam
Vietnam’s system of production, trade, employment, and consumption is shaped by market-oriented reforms and deep integration into global trade.
Đổi Mới: Vietnam’s economic renovation policy, launched in 1986, introduced market mechanisms while retaining one-party rule. These reforms shifted production and exchange away from central planning.
North Vietnam economy: The centrally planned economy of the Democratic Republic of Vietnam before national reunification in 1976. Its planning institutions shaped the unified country’s early economic system.
Vietnamese manufacturing: The production of goods in Vietnam, including electronics, textiles, footwear, and machinery. Manufacturing has become a central source of exports and industrial employment.
Poverty in Vietnam: The condition of households in Vietnam whose resources fall below defined poverty thresholds. Growth and structural change have sharply reduced poverty, though deprivation persists.
Centrally planned economy: An economic system in which government authorities direct production, investment, and resource allocation. Vietnam’s reforms replaced comprehensive planning with a larger role for markets.
State-owned enterprises of Vietnam: Businesses owned or controlled by Vietnam’s state, operating across sectors including energy, finance, and transport. They remain major actors alongside private firms in strategic industries.
South Vietnam economy: The economy of the Republic of Vietnam from 1955 until its collapse in 1975. Its market-oriented institutions contrasted with the North’s planned economy.
Vietnamese agriculture: The cultivation of crops and raising of livestock in Vietnam, including rice, coffee, and seafood production. Agriculture remains a major livelihood and an important export source.
Income inequality in Vietnam: The uneven distribution of income among individuals and households in Vietnam. Regional and occupational differences mean growth has not benefited everyone equally.
Socialist-oriented market economy: An economic model combining market exchange and private enterprise with socialist political leadership and state ownership. This is Vietnam’s official description of its post-reform economic model.