“Doi moi” creates momentum for development

After 25 years of implementation of the “doi moi” (renovation) policy, which was adopted by the sixth Party Congress in 1986, the Vietnamese Party, Government and people have combined efforts to overcome difficulties and gain significant achievements in economic development and national construction.

Thinking outside the box

Caption: Workers at the Dung Quat Oil Refinery, one of the works of great significance to Vietnam’s economic development (Photo: SGGP)

One of the most important contents of the “doi moi” policy is the renovation of thinking, in which the objective rules are respected and applied effectively, and the “disease” of subjectivism, voluntarism, and hastiness are driven back and eliminated. On that basis, the Party has understood more about economic rules, including the rule on the articulated combination of relations of production and forces of production, thereby using them more efficiently. 

As a result, Vietnam’s centrally planned economy has been transformed into a multisectoral one with various ownership forms, in which the State-owned sector plays a driving role.  The practice has proved that such an economy has helped mobilize various resources effectively to boost the economic development of the country.

The Party and Government have considered the multisectoral economy as one of the specific features of the transitional period to socialism and have implemented that economic policy consistently and efficiently during the course of renovation. 
At the same time, the Government has determined to build a market economy with socialist orientation and eliminate the bureaucratic economic management mechanism and set up a new mechanism that is suitable to the operation of the market economy. 
Under the renovation policy, the Government has also carried out a massive legal and juridical reform to build a law-base state, develop human rights, improve the operational efficiency of the State’s apparatus, and strengthen socialist democracy. Meanwhile, the Party has consolidated its strength and improved its leadership capability.

In the course of renovation, the Government has adopted a multilateral foreign policy, based on which Vietnam is ready to be a friend and reliable partner of all other countries in the principles of equality, mutual benefit, and respect for each other's independence, sovereignty and territorial integrity.  

Building a strong country with wealthy people 

The renovation policy has brought a new vitality to the national economy. Vietnam has achieved an average economic growth of 7.3 percent in the past ten years, making it among the countries with a high growth rate in the region. With the GDP per capita this year reaching about US$1,200, the country has no longer been among the group of developing countries with lower income.

The national economy has been advancing towards industrialization and modernization, and the budget deficit and public debt have been kept within safe limits. The people’s life has been improved significantly, with the income per capita increasing 2.3 times over the past ten years. Health insurance has also expanded from 13.4 percent of the population in 2000 to about 62 percent this year. In addition, the country has gained remarkable outcome in hunger eradication and poverty alleviation, which have been highly valued by the international community.

The social and economic achievements of the country in the past 25 years have proved that the renovation policy has been implemented effectively and efficiently.  It is the renovation that has created a firm foundation based on which the Party and Government can build Vietnam into a strong country with wealth people in an equal, democratic and civilized society.

Big lessons drawn

During the course of renovation, the Party and Government have learned valuable lessons in economic development and national construction, thereby finding out effective ways to continue boosting growth and improve the image of the country in the world.
The first lesson is that socialism must be understood more properly, more sufficiently and more practically, so that it can be built successfully. Marxism and Leninism must be applied creatively and suitably to the course of building and developing the country. In addition, the Ho Chi Minh Thought must be used as a guideline for the Party so that it can improve the efficiency of its activities.  

Another lesson is that “doi moi” must be implemented comprehensively, synchronously and in specific steps for different periods of time. “Doi moi” must be based on the aspiration and interests of the people and must help the people bring into play their initiatives and creativity. It must also create favorable conditions for the people to know, discuss, exercise and check the important policies of the Party and State.

In general, “doi moi” should be aimed at creating positive changes in all socio-economic fields, but it should be focused on three key targets, including boosting economic growth, strengthening the Party’s building, and enhance the cultural and spiritual life of the people.

In the course of renovation, it is necessary to boost international integration and cooperation so as to facilitate the country’s development. At the same time, the political system must be improved, socialist democracy must be expanded, and the law system must be perfected, in order to successfully build a law-based state of the people, by the people and for the people.

Last but not least, the State should institutionalize citizens’ rights and human rights and organize the exercise of such rights effectively. In addition, the Fatherland Front Committees of all levels needs to make more efforts to mobilize all the people to contribute to the socio-economic development of the country.

By Ass. Prof. Dr. Nguyen The Nghia – Translated by Mai Hung

Other news