Private-sector development in a transition economy: The case of Vietnam
Schaumburg-müller, Henrik
Schaumburg-müller, Henrik
Citations
Altmetric:
Titre
Publication date
2005-06-01
Document type
Journal article
Pages
13
Author(s)
Advisors
Editor(s)
Other Contributors
Affiliation
ePub Date
Submitted date
Local subject classification
MeSH
Country
Collections
Description
Since Vietnam introduced its Doi Moi reform policy in 1986, the development of the private sector has been a main policy concern for the government and the ruling Communist Party. The main development challenge for Vietnam is how to sustain economic growth and reduce poverty as the labour force continues to expand. It is envisaged that the private sector will play a major role in that respect. This article looks into the issue of whether the private sector can live up to widespread expectations. High and stable economic growth indicates that reforms have been consistent but also that private-sector initiatives have moved ahead of formal institutional changes. Private-sector development is new in Vietnam and starts from a low level. The public and foreign investment sectors are major players compared to the domestic private sector, which comprises many small firms. Poverty reduction has been impressive but it is only now that private-sector development is becoming an important contributor. Stemming the growth in inequality remains a challenge where the private sector's contribution to increasing public revenue has yet to materialise.<p>This article is hosted by our co-publisher Taylor & Francis.</p>
Language
English
Other Titles
Abstract
Citation
Journal
Development in Practice
Journal Theme
Development and the Private Sector
Volume
15
Issue
3 & 4
Research Unit
Table of contents
Series
ISSN
0961-4524
EISSN
1364-9213