Doi Moi

Đổi mới ( Vietnamese for renewal) will be called the 1986 -initiated market reforms in Vietnam. The economic liberalization followed, as in the People's Republic of China, initially no political liberalization. The personal freedoms even further restricted. Political Doi Moi is planned since 2006. The implementation of the commitments so far is hardly felt by the government.

History

After the end of the Vietnam War, the centrally planned economy was introduced in Vietnam first. Under the impression of impending famine, the Communist Party of Vietnam mid-1980s, however, decided to change course and put a series of major reforms to which and the transformation from a planned economy to a " socialist market economy" or a " multisectoral economy" with dominant state cooperative enterprises ushered.

Officially, the price of the renovation on the VI. Congress of the CPV in 1986 decided. This included increased decision-making authority for state-owned enterprises, a market-oriented monetary policy to control inflation, strengthen the private sector, which so far only existed in the form of family, and the expansion of trade with Western countries, which also includes direct investment. In addition, the banking system was decentralized, which abolished the mono-bank system and other commercial banks were permitted in addition to the controlled central bank. Also, the agricultural sector received more freedoms by the peasants were allowed to have independent production and pricing, as co-operatives and forced deliveries were largely abolished.

It should be noted that the Vietnamese reforms were born out of necessity ( five wars in a row, the hasty approximation of the systems in North and South Vietnam and the resulting crisis after the collapse of the Eastern Bloc ), remain very limited and the strengthening of socialism are should. This respect they are more similar to the New Economic Policy of the Soviet Union than with the policy of reform and opening up in China. So roughly constant around 65 percent of the means of production remain state-owned, there are strict requirements and specifications for private entrepreneurs, the union is still very strong, and the party had already called again " more socialism " and puts an end to the reforms for about 2020 view.

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The directly attributable to the reform consequences for Vietnam were an intensive economic growth (after previously negative growth ), a strong reduction in unemployment and increased economic independence of other states. This also led to improvement of the country's relations with Western industrialized nations such as Japan and the United States in the following years.