A STUDY ON VIETNAM’S ECONOMIC DEVELOPMENT MODEL (1986-2021)*
Abstract
- Vietnam, officially the Socialist Republic of Vietnam, is a country at the eastern edge of mainland Southeast Asia, with an area of 331,212 square kilometers (127,882 sq mi) and a population of over 100 million, making it the world's fifteenth most populous country. Vietnam shares land borders with China to the north, and Laos and Cambodia to the west. It shares maritime borders with Thailand through the Gulf of Thailand, and the Philippines, Indonesia, and Malaysia through the South China Sea. Vietnam is considered wise based on its strategic location, natural resources, and sea outlet. And then, Vietnam built good relations even with the enemy countries, the US and China for the country's development. Vietnam has been a development success story. Economic reforms since the launch of Doi Moi in 1986, coupled with beneficial global trends, have helped propel Vietnam from being one of the world’s poorest nations to a middle-income economy in one generation. Between 2002 and 2021, GDP per capita increased 3.6 times, reaching almost US$3,700. Poverty rates declined from 14 in 2010 to 3.8 percent in 2020. This paper aims to analyze the Vietnam government’s actions to develop Vietnam and the progress of Vietnam. The qualitative research method is mainly used in this research and applies secondary and tertiary sources. This paper tries to examine what development strategies have helped Vietnam to gain remarkable achievements and to what extent Vietnam’s economic sectors have been developed. Finally, the research also considers that the role of the government in a country is very important to be able to success. If the government works to improve the country’s economic strength, the country is peaceful and stable and people are satisfied, even though it is a one-party system.
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Year
- 2026
Author
-
Su Sandi Aung1
Subject
- English, History, Philosophy, Geography, Psychology, International Relations, Oriental Studies
Publisher
- Myanmar Academy of Arts and Science (MAAS)