Reviewing the Communist Party of Vietnam’s Perception of Industrialization During the Reform Period

Abstract

The article analyzes and examines the Communist Party of Vietnam’s change in perception of industrialization over time which has evolved in response to both domestic and international contexts and practical requirements. However, there is a lack in comprehensive understanding of industrialization and its possible models, both in terms of content and implementation conditions, which has for years significantly affected the results. Recognizing industrialization as the linchpin for the nation’s socio- economic development, this article identifies three critical economic factors that need to be stimulated intensely and considered as leverage for industrialization in Vietnam in the coming time: (i) Emphasis on the private economic sector; (ii) Fine-tuning of market economy mechanisms; and (iii) Viewing international integration as a direct driving force. Drawing from these insights, it then outlines a forward-looking model for industrialization that Vietnam should consider for its future growth.