Vietnam Before And After Doi Moi Policy

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Le 1 Vinh Le 12/07/2014 Prof. Solimini Final Paper Vietnam before and after Doi Moi policy. Imagine, there decades ago, what was Vietnam? One of the most aggressive economy in the world? No. It was one of the poorest and the most under-developed country. What miracle happened to change the face of the country? In such a situation, the Government did what needed to be done: making a revolution. An innovation named Doi Moi (renovation) was introduced in 1986. Since Doi Moi, we have witnessed a wide variety of changes in Vietnam. During the past two decades, its economy has grown at an annual average rate of around 7.5 percent, making Vietnam one of the fastest growing countries in the world. Key words: Bao Cap(subsidy) period, Doi Moi(renovation) policies 35 years since the day the war ended (April-30-1975), Vietnam economy has transformed from a Socialist economy into a Market economy with all the attributes that a competitive economy needs. In this economy, the fluctuations of supply and demand or financial instability occurs, inflation appears as a matter of fact. But with the economy operating under the Socialist way the word “inflation” was not a concern of those who guide and steer the Bao Cap economy. Before Doi Moi policies, Bao Cap period was a stage where most economic activity takes place under the central planned economy- the characteristics of the economy under communism. Le 4 Goods were distributed under the state stamps, goods

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