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- Title
ВИЕТНАМ - НОВИЯТ ИКОНОМИЧЕСКИ ТИГЪР НА ИЗТОКА
- Authors
Матеев, Илиян Генов
- Abstract
As a consequence of the wars with France, the United States and China, in the early 1980s the Vietnamese economy is totally exhausted. The country fought intensely for four decades. One of the main tasks facing the Vietnamese government in the 1970s and 1980s was to solve the food problem. Labor productivity is low and unemployment very high. The country's government is aware that with ideological slogans the economy cannot grow. The development of the so-called "family farms" which are granted the right to process the remaining land for various reasons outside cooperatives is stimulated. At the same time, however, the policy of reducing the "capitalist sector" in the South continues. In the mid-1980s, the Vietnamese government decided that greater transformations in the economic sphere needed to be made. In June 1985, the Eighth Plenum of the Central Committee of the Communist Party was held, which decided on fundamental transformations in the economic life of Vietnam. In September of that year, "new dong" entered into circulation, and in 1986 cooperative farms were transformed and the prices of agricultural goods were released. The "Doi Moi" economic reform began, which was an attempt of limited privatization. In 1987, a law on foreign investments was adopted and a State Investment Committee was established. By their nature, the economic reforms in Vietnam are very similar to those that have begun to take place in the People's Republic of China since late 1978. A transition has been made from a centralized to a "socialist market-oriented economy". By the end of the 1990s, the success of the "Doi Moi" reform was obvious. By this time there are already over 30,000 private companies, and the poverty rate has been halved. After Vietnam became a member of the Association of Southeast Asian Nations (ASEAN) in 1995, the country began to develop at an even faster pace. Shortly before Vietnam's accession to ASEAN, the country restored diplomatic relations with the United States. This act led to the normalization of economic ties between the two countries. A particular turning point in the development of bilateral relations occurred on 13 July 2001. On that date, a bilateral trade agreement was concluded between the Socialist Republic of Vietnam and the United States of America. It came into force in December 2001, effectively ending several decades of tension in relations between the two countries. The road to direct access of U.S. capital in Vietnam and free mutually beneficial commodity exchanges were opened. Vietnam has begun pursuing a policy of moving away from China and cohesion with the United States, Japan and its ASEAN allies. Important for the development of the Vietnamese economy at the beginning of the 21st century was the adoption of the country as a member of the World Trade Organization on 7 November 2006, after 11 years of preparation and 8 years of negotiations. Vietnam is currently one of the most dynamically developing countries in ASEAN, Asia and the world. The purpose of the article is to analyze the prerequisites that contributed to the success of the "Vietnamese economic miracle", as well as to present the development and results of the economy of Vietnam at the end of the 20th and the beginning of the 21st century.
- Publication
Knowledge: International Journal, 2020, Vol 41, Issue 1, p163
- ISSN
2545-4439
- Publication type
Article