A few theoretical and practical issues on the development of the socialist-oriented market economy in Vietnam

Twenty-seven years after embracing reform and growth, the Central Theoretical Council hosted another symposium on the socialist-oriented market economy in Vietnam. Unlike the two previous symposia of the Council, also on this subject, this 2013 Symposium has reached new heights since the domestic and international context have undergone serious changes. Vietnam, after 24 years of reform, has moved from a poor economy to a middle-income developing economy now fostering industrialization to become a modern-oriented industrial country by 2020. The collective status and power of the country is now many times that of the before-reform period. A quarter decade of entering, developing and shaping up in Vietnam, the market economy has affirmed itself as the largest asset and most effective economic development mechanism, from the institutional point of view, to create the necessary prerequisites for fast and sustainable socialist-oriented development in Vietnam. The country is now taking final steps towards a full market economy with modern orientation. Reform, development and global integration to the next level during 2011 - 2020 with a vision to 2030 will bring out new opportunities as well as challenges to the process of developing the market economy with modernity and socialist orientations in Vietnam.