Can Market Economy Succeed in Vietnam?

A World Bank survey finds Vietnam’s educated elite overwhelmingly favors the country’s transition to a market economy — yet most cling to the contradictory idea that the government should provide economic security.  

While 87% want a market economy, just 1 in 4 agrees that Vietnam has one — and 68% think the government should set prices of household items.

This suggests educated Vietnamese may resist completion of the process that began 25 years ago when the government began a gradual transition from a state-run to a market economy.  That effort may be stalling as large state-owned monopolies remain intact even though they were supposed to have been privatized by now.

More on the Vietnamese perceptions about the market economy


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