ABSTRACT
Since the late 1980s, Vietnam has started the transition toward a market economy. The profound economic reforms that are commonly known as Doimoi have been successfully carried out in various areas of the economy. State enterprises have been restructured and the private sector has been promoted. At the same time, trade and investment liberalization have been conducted to promote the country’s integration with the regional and the world economy. The economic reforms have brought about two decades of rapid economic growth, which has been supported by the growth of exports and large in ows of foreign direct investment. More importantly, the majority of Vietnamese people have been able to share the fruits of economic growth. The poverty incidence has declined sharply, and the economic growth has proceeded without a sharp worsening in income distribution.
