How did such a plan turn a nation into one of the world's fastest growing economy? That's the Doi Moi reform of Vietnam. Do you think that this period was the sole driver for Vietnam's economy? Let us know down below!
Before the "Đổi mới" Việt Nam was so poor. People wake up in the morning to go farming, but they always wait to get home, no one really cares abt food .... Because of limited resources production like oil, and electricity, they have a plan that changes cars from oil to coal which makes cars from 45km/h to 10km/h, when the car runs for like 5 mins u have to go down push it up the cliff, everyone who goes on that car will always have a black face. When u go to work the government gives a a scroll that u can go and choose a random engine to craft ur bike Then the problem of food being limited u need a scroll or a book that the government provide then before u buy u have to make a line and wait till ur turn, sometimes u wait from morning to the afternoon when it comes to your turn food already ran out the 5-year plan in which they decided to produce more wheat from the field also failed despite decreasing a lot and the problem is the land to farm an increase Everyone has a role that decides how much food they can get, u can only buy milk when u sick and have the pill bill, can only buy some jam, or candy when u having a wedding, and when u die they give u paper to buy some wool for the scarf and a coffin The food limit + war with Cambodia and China made the country suffer, the government had to sell gold and buy wheat from India, and a rich billionaire from the France communist Party helped us buy wheat from Thailand With the 700% inflation, the government has to change money old money change to 2000đ of new money. People that save up for their entire life now just lost everything. My grandpa was so shocked his saving was around 60 000 đ of old money now we had just lost everything that was a bad time with my family Because all of that the government has to change its economic style and that is why there is "Đổi mới" plan After "Đổi mới" Việt Nam economy was a lot better now we don't have to worry too much like before live here just wonderful:D
Living in Canada now, I can tell that economically speaking, Vietnam is far from being communist. As an individual, you get taxed less (compared to Canada) and you have option to go for either public or private healthcare. You can also open and run your business pretty easily in Vietnam without much redtape from the govt. During the COVID pandemic, while western countries inject tons of cash into the economy to bail out citizens, Vietnam took a more conservative approach, which result in lower inflation compared to other countries. Canada is much more communist than Vietnam.
Các nước phương tây phát triển , (Băc Âu) đang dần chuyển thành nước cộng sản một cách vô thức, thuế cao đễ phân phối lại nguồn lực vô tình làm triệt tiêu động lực sản xuất cũng như khởi nghiệp!
One of the major difficulties of the Vietnamese economy in the 1970s-1980s was the embargo from the United States, China and the West. In 1978, Polpot attacked Vietnamese territory, killing many people. In Cambodia, they also massacred 2 million Cambodians. Vietnam sent troops to overthrow Polpot to save the Cambodian people. But the Polpot regime was supported by China, the United States and the West. In 1979, China sent 600,000 troops to attack the entire northern border of Vietnam to pull Vietnam to the defense to save the Khmer Rough. The war at both south and north, along with the embargoes, and the Soviet Union on the verge of collapse, made Vietnam's economy miserable in the 1980s.
@Akira Yes, the genocidal Polpot regime invaded and killed more than 5000 civilians in the southwestern Vietnam's border area before we counterattacked against them.
8:10 Vietnam's government still wants to own these 3 key industries because it balances the growth of the economy and helps the poor easier to approach daily life basis. For example, private companies won't build high-voltage poles to run electricity to poor areas or areas with fewer citizens because it doesn't make profits, while the government does. Or to fuels, oil, specifically, increases due to the world's price. When it rises too high, the government will decrease the profit to sell it cheaper while private companies have to keep the higher price or even increase it
with out the government will, energy and telecom will not growth in poor area and will be abandon by commercial company, if they let commercial company doing business in this industry, the state company cant compete with them when handling those non profit area. Until every single rural area have access to electric and telecom. Vietnam will not leave these business to the public. Transportation is not really in state's control now. theyre losing competitive years after years. only railroad is now dominance by gov company but it not generate any profit. trailer, air cargo is way better than railroad at the moment and gov need to decide to let the ancient relic railway gone. or at least priority in transport goods then limited passenger transportation, it not profitable now.
@Battlerite Royale Việt Nam since when was transport in any country isnt supposed to be profitable if that's the criteria you have to base it on end up like America with no public transport except the one and no one talks about not being profitable highways And I'm a bit dumbfounded on how air cargo is way better than rail like we can talk energy efficiency and obviously air cargo extremely polluting and inefficient energy wise. the only thing that like air cargo could beat rail is in speed the idea that its better than rail is are tutterly foreign for me maybe you're talking about in profit because you said rail is dominant, despite being Vietnamese you seem to suffer from the profitable=good syndrome I honestly believe rail should be the backbone of most countries transportation it shouldn't make a profit because it's meant to boost economy
@@reggie69. for some reasons, travelling by airplane is sometimes cheaper than by train in Vietnam. The normal price for plane tickets is higher, but airlines usually sell plane tickets with a huge discount, making it cheaper than train while also being way faster. For context, my girlfriend used to live in Da Nang which is 800km away from Ha Noi which is where I live. The 2 options I usually takes are sleeper bus which is the cheapest while also a little bit faster than train, or by airplane if there is a ticket discount. I only took the train one time in my life for the novelty of experiencing the "communism train" as we call it jokingly because the interior and experience is still exactly the same as 30 years ago lol.
Solid content. Thank you. I believe the Vietnamese government is looking at Singapore, HK, Japan, S Korea and China's economic strategies and will take the best from each, resulting in measured steps to privatize the core industries step by step. Also trading partnerships with EU, UK, CCCPT show its global vision.
Privatization is important, but I think a lot of our key industries should still be in the governments hand. Since too much privatization can open our country to foreign manipulation and intervention, like what happened to a lot of Central American countries in the 70s, 80s, and 90s. Where foreign mega corporations controlled the governments and can topple the regime at will (check the Banana republics and you'll see what I mean).
Actually, I suggest that 10 years later you look back and you’ll absolutely see everything remains unchanged. It’s a very weird economy, to some extent, it replicates that of Chinese Communist.
This is such a great and compiled video but forgot to address how education can play a significant role in Vietnam's development. Relatively they are always at the top of any Olympiads of Math, Physics or Chemistry, alongside with other much richer countries.
The Vietnam paradox. For a country with relatively poor in term of economy but have done well above developed countries in those aforementioned. This contradicted the correlation between wealth of a nation and its educational ranking.
@@hoctapdotmu NHỮNG NGƯỜI Ở VN KHÔNG GIỎI THÌ SAO LÀM ĐƯỢC NHỮNG VIỆC MÀ NGƯỜI GIỎI Ở PHÁP,MỸ PHẢI THUA? IF PEOPLE IN VN NOT TO BE GOOD AT THE THINGS,HOW THAT GOOD PEOPLE IN FRANCE AND AMERICA HAVE TO LOSE TO?
Leaving a huge part that the US sanctioned Vietnam due the Khmer rouge genocide, also the long skirmish with China after the 1979 attacks on the north. Diplomatic tie with China only restored in 1989 with the Chengdu agreement and the US only lift the sanction since 1995. The country has not at peace since 1975, at least not in the Western media views, but only in the 90s that the country could focus on the economy. Not to mentioned all the UXO and mines left in the country, which likes to go boom if you want to build road over them.
VN còn chặng đường dài phía trước, quả ngọt chỉ có khi chúng ta làm việc cố gắng. Con cháu sau này của chúng ta có được ngẩng cao đầu hay không phụ thuộc vào thế hệ hiện nay xây nền móng.
Greetings from U.S. Vietnam is a lovely and unique country . So far they are the greatest warriors on earth that always impressed the world. Only a nation that defeated the mongols 3 times in 13 century and humiliated chinese empires 14 times in History when China tried to invade them. They also crushed 3 powers: France, America and China in 20 century. The war in 1979 was a total military disarter for Chinese army as they got a huge casualties by Vietnamese local units and failed to save the genocidal Polpot regime in Cambodia . Only 25 years living in peace but now 2024 as we know Vietnam has become a new Asian economic tiger, one of the fastest growing countries 8,2% in 2022 , a upper middle-income country with PPP 16.000 or GDP per capita - 5000 dollars in 2023. Moreover, now Vietnam is one of the top 20 biggest world's exporters 370 billions dollars in 2023. They are even building a huge EV Factory-Vinfast Cars 4 billions dollars in US and India, Indonesia.
I am, and we are glad that our changes have finally been recognised. I don't know how long it will sustain, but the last decade was undeniably great for the Viets' economy and that I know at least we have been trying to rise up!
Vietnam still has a lot of problems like corruption and over population but at least we have low inflation, besides crazy house prices, other costs are acceptable and still have room for growth. I'm not rich but live quite content and comfortably in Vietnam: going to get massages, spas, sauna, hair salon, nails service a few times a month, going out to nice restaurants frequently, most things are affordable and abundant
As a Vietnamese, the fact is the population in Vietnam has tendency to decrease gradually regarding to the birth rate recently. We are really afraid that population will become "old" before our country becomes a developed country.
A bunch of kids cannot grow to be good members of society without guidance of a teacher or parents. Vietnam needed a powerful central government to grow its young economy and guide the people for the first steps until they are able to walk on their own, creating private enterprises and inviting foreign ones. I believe Vietnam has implemented a decent economic and social system, always balancing growth and ethics.
BS they took over one of the best economy in SEA(Saigon) and destroyed it with communist's policies. The only good thing they did was realizing they're idiots and got out of the way of the talented Vietnamese people.
😅😅😅 rampant corruption is one of those features has been hampered everything in this country, those who responsible for that fact have never ever taken their own mistakes as well as responsibilities. Further more, the lack of transparency in any aspects in society. Property bubble is a telling example.
Vietnam does not need a corrupt and thieving communist government. Vietnam needs a democratic government. What the hell do corrupt, thieving, shameless communist liars such as you know about ethics? You only know how to lie, lie, and lie.
my theory is that probably because "almost all" of East and South East Asia were indirectly and directly involved during the multiple wars in the last century trying to destroy Vietnam, thus they fear that if Vietnam gets stronger they will be targeted, or simply they feel that the rapid development seen before in their own countries should have brought them to the level Vietnam couldn't hope to reach, and the current situation does not meet their expectations and they might feel like being left behind? As a Vietnamese myself, I can confirm that we prefer to set the past aside, since ancient times, we have faced many hostile powers and they came from everywhere, ganging up on us. We simply think that our geography is both sacred and cursed, so as long as other countries don't try to do unnecessary things that leave the impression of "rubbing on our scars" like talking down on us, we can all move on toward a better future!
hahaha, Vietnamese people has been in food starvation in early 1980. Thanks to the collapse of Soviet Union, otherwise nothing change. The change is only for survival of communist regime.
I don't think the state will ever relinquished its ownership on Energy and Transportation sector and personally I don't think it is fitting to have these essential commodity being privatized either. Privatization doesn't always come with efficiency but always come with increase profitability which not always correlate with productivity or improvement. Companies will happily cut cost and corner just to squeeze out a cent of profit like how government agency suffer from all host of issue. However depend on the country you live in, you can have a say in your government by voting. There is no such thing when it came to private company. If your area suffer from bad service and the only provider is a private company ? You are out of luck. What are you gonna do vote them out ?
EVN the state own enterprise which controls the electricity of the entire 100 million people. Pro western Vietnamese think that we should privatize EVN and let private company join the party and take a slice of cake out of EVN. But recently, private own gas stations in the South of Vietnam run out of oil and gasoline and force the government to push the price up to 2$ per liter. But luckily, PVN the state own gas company still do it best to provide the people with almost full tank
I'm from australia and privatized energy sector is bad. Letting a company control your energy resources increases your taxes and bills because they are capitalist in nature and will try to take the most of your financial living.
@@deafea4867 no it is not. Govt fine any companies from hoarding gas and fuel and if companies persist, the govt ban from trading permanently. But then why govt need to raise the price when they can provide sufficiently? Obviously it is for profit
Unfortunately, recently Vietnamese state own coal corporation was under fire with accusation to export high quality coal to China while selling low quality coal to EVN (Vietnamese state own electric company). Occassionally, they demand higher price from EVN which lead to EVN propose to increase electricity price in national assembly. Not all state own companies work for people
@@Teochewtuahang tư nhân phân phối xăng dầu chứ ai phân phối? Khắp cái SG bao nhiêu trạm xăng dầu nhưng tại sao tụi kia đều than lỗ ko bán? Duy nhất petrolimex chấp nhận lỗ vẫn bán. Lúc có tin xăng sắp lên giá nhà nhà xăng tư nhân để biển nghỉ bán ko bán hay bán giới hạn ghim hàng chờ xăng lên giá. Năng lượng mà quăng cho tư nhân thì cái VN này đi bộ
The miracle happened as soon as the war ended, we did not see America or any international agents as enemy but as friend. Even til today, you can feel welcomed in VietNam As foreigner, much different from the like of Cuba or China
Many developing countries in our world should learn from the ways developed countries came to be. Look at many Asian countries how it was decades ago and now how it is. Many Asian countries are under development, but rapidly growing. If other developing countries follow in their footsteps, we will live in a very advanced world.
Saying that command economy has always failed to make economies grow is a fallacy - they have been highly efficient when it comes to build up an economy from a very bad point of departure
with bad leader, command economy failed. actually we learned the system that can build ok leader with ok ethic. and some big countries see that, so they try to de-stablize Vietnam so the edgy leader with lower skills might appear. That's the war we are facing now
5 years ago it did feel like that was the direction. However, when Nguyen Phu Trong consolidated the power within the government, Vietnamese millionaires and billionaires are being prosecuted up and down.
Vietnamese do study from South Korean. But I think we have to find out suitable path in nowadays world. We should establish large firms in emerging niche industry (software outsourcing, coffee, basa fish, handcraft, AI, robotics) and strategic material manufacturing industries (steel, cement, oil). Otherwise, we can't compete with China, a manufacturing superpower which can produce all quality items at the lowest cost and large quantity.
The best thing to happen to Vietnam is to put the Đổi Mới Program on full power and TOTALLY ERADICATE socialism/communism from our land. Communism was why Vietnam became so poor and is STILL POOR! Vietnamese people are so hardworking. We deserve a MUCH BETTER future WITHOUT socialism and communism. Do your part by DESTROYING the communist dictatorship in Vietnam.
@@HaTran-32nhukm không như Hàn Quốc, Nhật Bản,...họ tập trung sản xuất công nghiệp, tiêu dùng, công nghệ,...Việt Nam thì nhiều doanh nghiệp vì tham lợi nhuận của bất động sản mà bán các công ty sản xuất công nghiệp, tiêu dùng,..cho nước ngoài lấy tiền đầu cơ bất động sản. Họ lũng đoạn kinh tế, không làm gia tăng giá trị sản xuất.
I'm so proud of Vietnam. After being ravaged by war, poverty and a dictatorship type government, the people took a hard look at themselves: "Why can't we be rich like the West?". We Vietnamese love money and to make money, we need to grow business. I hope the people in Middle East countries like Iraq, Afghanistan and North Korea would one day take a leaf out of Vietnam's Book.
@@Li.Meng.thật tội nghiệp cho những chú ếch. Suốt ngày chỉ biết lao vào làm việc 14/24h trong các nhà máy chỉ để nhận lại những đồng lương để trả góp tiền ngân hàng rồi tự cho mình là nước phát triển. Chắc hẳn 1 chú ếch như mày thì sẻ không đủ khả năng kinh tế để bước ra khỏi cái giếng mà ngước nhìn thế giới. 😂😂😂😂
Việt Nam sẽ không quan tâm đến các bảng xếp hạng. Miễn sao Đảng viên CS bỏ túi thật nhiều tiền rồi tìm đường trốn ra nước ngoài. Ví dụ: cựu giám đốc tờ báo tuổi trẻ đã mua nhà và mang cả gia đình sang định cư ở San Francisco, một thành phố đặc đó nhất nước Mỹ
Well done. If Vietnam steers clear of collectivism and the government continues to encourage its intelligent hard working population to gain a top economic position in the world , the Dragon will fly high. I have lived in this cultured society for over 10 years, I Love Vietnam. Great to live in a country that feels Free. 🙂
Even if Vietnam is not a dragon, but an earthworm, so the fact that you consider it a ''cultured, free and great to live" society is already very good for us... Thank you for saying the truth
@@sonnynguyen5917MỞ MẮT RA MÀ XEM NGƯỜI NƯỚC NGOÀI VIẾT VỀ VIETNAM THẾ NÀO Ở TRÊN NÀY: @jonwebb9022 4 tháng trước Well done. If Vietnam steers clear of collectivism and the government continues to encourage its intelligent hard working population to gain a top economic position in the world , the Dragon will fly high. I have lived in this cultured society for over 10 years, I Love Vietnam. Great to live in a country that feels Free.
It is assumed that western style democracy model is the best. All models are wrong there are just good ones. Which means there exists better ones, only undiscovered.
Wake up Philippines. In Philippines it's big debate if we open up our constitution to foreign direct investments. Seems like oligarchs will just continue to role the country and the income gaps from poor to rich is so high.
110 million Pinoys are a huge cash cow for the rich. All want their wealth remain in their family. For example, the average cost of internet/telecom will be cheaper if FDI firms invest in your country. But Philippines should control some strategic industries to keep down unit cost (water, electricity) like Vietnam.
@@khoadinh9897 just like in vietnam. You have many investors but still lack of infrastructure and transportation. The poor remains poor and the rich remain rich. That's why they migrate in other countries just to have a good life. Your country are just ahead in terms of gdp growth and investors. I'm sure if philippines will open to others their economy will boom, it's just they fucos too much in their infrastructure, and now they slowly fix it's problem just for the sake of its people.
Vietnam is not only war. Vietnam also has a very famous culture and cuisine such as banh mi, ao dai, pho. Vietnam has the tallest buildings in the region such as Landmark 81 Vietnam is also participating in the export market of VinFast branded electric vehicles, North America and the EU will receive this type of vehicle.
The primary reason why Vietnam has grown so much is because of the "State-Guided" economy has prevented expatriation of whatever was the end result of those "Joint Venture" initiatives. China has a really bad reputation around the globe because they will invest money into projects and then swiftly reclaim the costs or outright abandon whatever community allows them in. Cambodia has a lot of chinese investment, locals talked about Chinese casinos which then had a city build around them basically drove a huge amount of infrastructure into that region and then the money evaporated. Vietnam has not allowed the Western mentality of "divide, conquer, and pump/dump" that is prevalent in our modern economy as companies buy up rivals, consolidate, and then ruin the markets. Vietnamese people are hungry for a modern lifestyle and better quality of life, but for the average citizen it is not at the expense of everything else. You could call it "sensible" business policy, Vietnam has had a lot of growing pains in such a short time and during that time it has tackled corruption along side trying to maintain sustainability. The main hamper for the future of the economy is the limited and single mindedness that a typical Vietnamese businessman has. The average Vietnamese neighborhood has a house on each side with a business. You might have 3 ice cream/yogurt shops within a 2 minute walking distance. ONE of those shops is actually successful, because the product is higher quality. Those other food shops shouldn't exist, they make very little in profits if at all. There are many types of businesses "coffee shops being a major one, there are too many" that are extremely competitive and difficult to make successful, that just keep popping up and they offer nothing besides merely existing. It could be a front for money laundering, it could just be lazy business administration and poor research of the market itself. There is no way that 5 coffee shops on the same street can make money, the average Vietnamese person barely makes 700 to $750 a month and the expendable income for the MAJORITY of the population is just not there. The only thing that is rational about it is that this keeps prices artificially low, so people can afford to go out.
@@deafea4867 Yeah your right I just heard the Vietnamese pronunciation from an actual Vietnamese person, Lol I got six likes , they probably thought what I thought too .
We as a Timorese we need to learn a lot more about the neighbouring countries rather than hurrying to go into a member of the Asean just because of some people, family or a ethnic group demanding it. After the departure of the Indonesian and the UN the infrastructure and the economy of East Timor was managaged by so many former "guerrilheiros" lef out some people whom very much useful to govern the country such a late Mr. Mario Carascalão..who was a previous governor back to the time East Timor was one of Indonesia province's.. the guerrillas people still in the office..so East Timor will go whenever they want to...even we as people..we doesn't even know what we have to give apart of Oli 😉 of course... by the way the infrastructure and the economy is still managed by the government rather than private sector (mostly own by elite government) or investor..so good luck to the other members to welcoming us... We have been learning for about 20 years and on...but still doesn't have a clue of what is this oils all about.. luck for us as a people we never beg them guerillas for money to life our lives...we work dam hard to survive..to be continuing...HAU MAUBERE OAN..MATE KA MORIS MAUBERE OAN NAFATIN 🇹🇱
Is the Doi Moi model similar to Deng's policy in China in the 1970s? The economic miracle only could have happened after changing their model from the classical Marxist state-run businesses. Why it took until the 80's? Because the country was in bad shape because of wars. It needed to rebuild its infrastructure. I'm watching bloggers from Vietnam and amazed that there is the modern look and the small shops coexist.
Yeah similar to Deng policy in 1978. And the reason is because of General Secretary Le Duan, he was a hardcore communist, the country can only change after he gone
You have provided incorrect information. In the 1970s, although the United States withdrew from Vietnam, the embargo still took place, making the economy very exhausted, forcing the government to issue an order. We call this the subsidy period. government to guide the country through this difficult time.
Capitalistm going with the purpose that makse as much money as they can, it purpose is to increase benefit .In the other hand, communist's command economy is going with the purpose to balance the benefit of everyone. BUT, while profit does not always get along with humanitarian, commandng economy also not mean high quantity and quality, bcause it come along with one of human sins: sloth (lazy). My grandmother was life in the time which we call "bao cap", mean that "work as you can, gain as demand", which the hard worder and lazy worker earn as the same, but the hard one has to carry the lazy's quantity output. The gov realize that and then it come out with Doi Moi (thanks sir Truong Chinh), which will balance the wealth gap but still have condition to develop the economy. That what i understand about the circumstance as a citizen of Hanoi
hoping vietnam inpite of being a socialist country will not follow chinas govt total control of its economy....grab all the opportunities the world is offering you,just make sure the basic agricultural needs of your people is low unlike here in the phil werein basic agri needs is controlled by the trader or middlemen
The Philippines should collaborate with Vietnam and consider now Vietnam should build a Filipino town as a representative and further cooperation with the economy since we have a common enemy country remember.
The government need to upgrade forward to trending industries (Artificial intelligence, robotics, self-driving system, EV, internet of things). Otherwise, we are going to stuck middle-income trap, can't compete with giant China + already developed countries, also lag behind cheaper manufacturing countries.
Viettel makes its own 5G equipment, researching 6G technology, FPT corporation is going to produce made in Vietnam semiconductor chips , VinFast electric cars like VF8 & VF9 exported and sold in Canada , USA and Europe. BKAV & VinAI a Artificial Intelligence company creating AI technology products and services like camera. Many large tech companies/ Unicorn like VNG and Blockchain technology like Sky Mavis Axie Infinity.
Vietnam have made much industrial and technological progress in the past 15 yrs or so. It has many industries including steel, automotive, ship building, electronics, chemical, pharmaceutical, manufacturing, and ICT. The big industry of the future is in ICT (AI, big data, blockchain, 5G, fintech, etc.). It has world-class ICT companies such as Viettel who develops its own 5G technology, FPT/FTP Software which is recognized globally, CMC Corp, and VinAI. Auto manufacturers (Vinfast, THACO) is exporting EVs in North America and Europe. The country also produce ships of many types, large oil rigs, advanced missiles (including VCM-01, Yakhont), weapon systems, robotics, IC chips (FPT Semiconductor), medical devices, vaccines (including COVID and first African Swine Fever vaccine), smart devices/phones (Vinsmart, BKav), 5G (Viettel), super-tall skyscrapers (Landmark 81, Empire City).
@@DanKann86 Good progress. I agree that Vietnam have some world-class firms. However, don't be overproud for these little success, we need to invest more for human capital/Vietnamese companies because our competitors will not stop, and keep pouring money into R&D and new industries. In fact, Vietnam is depended on China and USA too much, also the foreign-owned companies still dominate exports, imports but contribute limited tax to national budget (tax incentives and transfer pricing technique) + buying/importing internal FDI companies. Hope we will have more domestics firms, which spread the money to the whole society.
@@khoadinh9897 It was intended to show things are not as lack-luster as you initially painted and where many notable achievements have been made. And they are certainly not little success. Sure, there are many more steps needed in the long road ahead with many challenges to overcome. No one is questioning that here. Vietnam is a developing country with limited budgets. Even so, many accomplishments through research have been made and that is increasing. A developing country (having limited resources) also need to focus on mastering existing technologies to be able to hopefully advance (or not to) the technologies further in the future. As you and I mentioned, ICT is the big industry of the future. As for this industry, Vietnam is certainly not being left behind, but have made rapid progress. Fortunately, this industry is readily attainable for success and human talent is the most important resources.
Wow...follow in the footsteps of SK, HK, TW and SP. And what about China? If there is an outstanding economic rise you want to mention or compare to, you can't simply ignore China...(although HK and TW are practically China too). And the successful model of Vietnam explained in the video is practically the same as in China...
Without Chinese culture influence like confucianism, Vietnam would be like Cambodia today. Culture 0lay a big part in a country's development. Japan and South Korea are Confucius country that were culturally inlf8by china
@@timedone8502 bạn nên tìm hiểu về lịch sử Việt Nam. Việt Nam từng bị trung quốc đô hộ 1000 năm, và Việt Nam vẫn giành lại độc lập. 1000 năm sau, Việt Nam với trung quốc vẫn đánh nhau thường xuyên. Mông cổ từng thôn tính cả châu á, châu âu, nhưng thất bại 3 lần ở Việt Nam. Thời hiện đại, Việt Nam đánh nhau với Pháp, Mỹ, trung quốc, Khmer đỏ...... Việt Nam mới hòa bình thực sự 30 năm.
😂😂😂 họ giỏi có thì giàu chứ sao 😂 ở Việt Nam học giỏi có phẩm chất thì vào đảng viên rồi làm lãnh đạo chả nhẽ lãnh đạo đảng viên không được giàu mà 1.500 đô la là ở châu phi chứ Việt Nam công chức nhà nước 500 đô 😂😂 bị mù à
it doesn't matter if Thailand going to face another military coup or not if Thailand doesn't have a smart leader like PM Thaksin then Vietnam will overtake Thailand and become the new, unofficial, Asian Tigers
It seems like western country favor Thailand and Vietnam. But completely overlooked Cambodia who is being favor by China, Japan, French, Russia and Korea. Now this is a major component for economy growth as well, steady but surely Cambodia will suprise the world.
How? By expløiting thousands of VN people with low wages and no labor rights, and with little environmental practice under a commûnist government. That's why many people migrate to other countries to improve their quality of life and it's important to send the manufacturing to mexico,indonesia or other democratic nations.
It doesn't need to be communist. My country is not under communist rule and sustains the same elite advantages and working-class disadvantages you mention.
Vietnam spent 15 years (1975-1990) to centralize its economy before they realized that it didn't work. Vietnam has high growth rate partially because of the low base effect. Once it reaches to the point, it will be trapped at middle income group.
don't worry we're just getting started, there's still a lot of work to be done, but that's the story of the future. Thank you for your comment it will probably help us see the points that need to be fixed 😁
@@TALK-is1qd Why don't you google "Is Sweden a socialist country?" and see what those websites say? Just because you say Sweden is a socialist country doesn't mean it is. What a joke.
Sound weird, but China has applied market-based reform and success to be a upper middle-income country. But Vietnam can't compare to China because our size is relatively a medium province of China. It should be a creative way to make market-based economy tailored for 100 million population like VIetnam.
@@thuankhong India was socialist until 1991 when it had its IMF reforms which did similar things, after that it has lifted hundreds of millions out of poverty, and has consistently grown at 6 to 7% growth rate ever year. If India had embraced capitalism 10 years earlier it would have been wealthy by now.
Vietnam still lacks indispensable parts of capitalism: beggars, homeless, illiterate, lacking social justice that many capitalist countries in world have. In Vietnam, the child of an ordinary worker can win a high prize at the international Olympiads, if he(she) is smart enough.
vietnam govt follows china to the teeth on economy, real estates etc... china at least build its cities first vice vietnam bangs on foreign investments to build its cities, so how vietnam can be better than china. If china collapses then vietnam will be too.
It's not like that, in Vietnam, if you buy land, it will belong to you forever. unless you die without any heirs, your land will belong to the government
Vietnam will remain a socialist-oriented economy, forever because: 1) it enshrines in the constitution. 2) Per WB, UN and ADP Vietnam's poor is at less than 5% besting all ASEAN and also leads growth of middle-class. 3) Even during global economic crises of the 1990's, 2003 and post Covid.... Vietnamese economy remains less impacted and fST RECOVERY BECAUSE STATE-OWNED INTERPRISES RISED UP AND STABILIZED.
How did such a plan turn a nation into one of the world's fastest growing economy? That's the Doi Moi reform of Vietnam. Do you think that this period was the sole driver for Vietnam's economy? Let us know down below!
I wonder if Vietnam is directing its economic model toward a European Union one. I see some similarities there. Could I be wrong?
Before the "Đổi mới" Việt Nam was so poor. People wake up in the morning to go farming, but they always wait to get home, no one really cares abt food ....
Because of limited resources production like oil, and electricity, they have a plan that changes cars from oil to coal which makes cars from 45km/h to 10km/h, when the car runs for like 5 mins u have to go down push it up the cliff, everyone who goes on that car will always have a black face.
When u go to work the government gives a a scroll that u can go and choose a random engine to craft ur bike
Then the problem of food being limited u need a scroll or a book that the government provide then before u buy u have to make a line and wait till ur turn, sometimes u wait from morning to the afternoon when it comes to your turn food already ran out
the 5-year plan in which they decided to produce more wheat from the field also failed despite decreasing a lot and the problem is the land to farm an increase
Everyone has a role that decides how much food they can get, u can only buy milk when u sick and have the pill bill, can only buy some jam, or candy when u having a wedding, and when u die they give u paper to buy some wool for the scarf and a coffin
The food limit + war with Cambodia and China made the country suffer, the government had to sell gold and buy wheat from India, and a rich billionaire from the France communist Party helped us buy wheat from Thailand
With the 700% inflation, the government has to change money old money change to 2000đ of new money. People that save up for their entire life now just lost everything. My grandpa was so shocked his saving was around 60 000 đ of old money now we had just lost everything that was a bad time with my family
Because all of that the government has to change its economic style and that is why there is "Đổi mới" plan
After "Đổi mới" Việt Nam economy was a lot better now we don't have to worry too much like before live here just wonderful:D
@@itz_lucas847 Hard working Vietnamese. Always innovating!
@@youxkio Ty man today is Vietnam Liberation day!!!
@@itz_lucas847 Happy Holiday!
I love Vietnam, I have been visiting and sometimes living there for 18 years, I’ve seen the progress and it is mostly for the better. 🇻🇳
Vietnam love u too ! come more to see the rise of VN in future
we appreciate you mate
What kinda work do you do?
@@tmmnago2722 I used to teach in Vietnam.
Living in Canada now, I can tell that economically speaking, Vietnam is far from being communist. As an individual, you get taxed less (compared to Canada) and you have option to go for either public or private healthcare. You can also open and run your business pretty easily in Vietnam without much redtape from the govt. During the COVID pandemic, while western countries inject tons of cash into the economy to bail out citizens, Vietnam took a more conservative approach, which result in lower inflation compared to other countries. Canada is much more communist than Vietnam.
What does a brake
Viet Nam is a dictatorship.
Các nước phương tây phát triển , (Băc Âu) đang dần chuyển thành nước cộng sản một cách vô thức, thuế cao đễ phân phối lại nguồn lực vô tình làm triệt tiêu động lực sản xuất cũng như khởi nghiệp!
One of the major difficulties of the Vietnamese economy in the 1970s-1980s was the embargo from the United States, China and the West. In 1978, Polpot attacked Vietnamese territory, killing many people. In Cambodia, they also massacred 2 million Cambodians. Vietnam sent troops to overthrow Polpot to save the Cambodian people. But the Polpot regime was supported by China, the United States and the West. In 1979, China sent 600,000 troops to attack the entire northern border of Vietnam to pull Vietnam to the defense to save the Khmer Rough. The war at both south and north, along with the embargoes, and the Soviet Union on the verge of collapse, made Vietnam's economy miserable in the 1980s.
Liên Xô mà k sụp đổ thì VN còn khổ dài :)) may là sụp sớm.
@Akira Yes, the genocidal Polpot regime invaded and killed more than 5000 civilians in the southwestern Vietnam's border area before we counterattacked against them.
@@quocanhluu7807Hơn 30.000 thì phải, chứ ko phải 5000 người đâu
Đến năm 1989 vẫn còn phải đánh nhau với bọn trung quốc ở biên giới phía bắc, năm 1990 mới ko còn tiếng súng. Ở chiến trường Campuchia cũng vậy đó bạn
Love Vietnam🇻🇳 from 🇮🇳 India 🥰. I have a friend from Vietnam .
Love India from Vietnam, wish you the best and peace
🇻🇳❤🇮🇳
I love india
8:10 Vietnam's government still wants to own these 3 key industries because it balances the growth of the economy and helps the poor easier to approach daily life basis.
For example, private companies won't build high-voltage poles to run electricity to poor areas or areas with fewer citizens because it doesn't make profits, while the government does. Or to fuels, oil, specifically, increases due to the world's price. When it rises too high, the government will decrease the profit to sell it cheaper while private companies have to keep the higher price or even increase it
with out the government will, energy and telecom will not growth in poor area and will be abandon by commercial company, if they let commercial company doing business in this industry, the state company cant compete with them when handling those non profit area. Until every single rural area have access to electric and telecom. Vietnam will not leave these business to the public.
Transportation is not really in state's control now. theyre losing competitive years after years. only railroad is now dominance by gov company but it not generate any profit. trailer, air cargo is way better than railroad at the moment and gov need to decide to let the ancient relic railway gone. or at least priority in transport goods then limited passenger transportation, it not profitable now.
SOCIALISM!
I think the main reason is we don't want to lose control of these three key industries to foreign force.
@Battlerite Royale Việt Nam since when was transport in any country isnt supposed to be profitable if that's the criteria you have to base it on end up like America with no public transport except the one and no one talks about not being profitable highways
And I'm a bit dumbfounded on how air cargo is way better than rail like we can talk energy efficiency and obviously air cargo extremely polluting and inefficient energy wise.
the only thing that like air cargo could beat rail is in speed the idea that its better than rail is are tutterly foreign for me maybe you're talking about in profit because you said rail is dominant, despite being Vietnamese you seem to suffer from the profitable=good syndrome
I honestly believe rail should be the backbone of most countries transportation it shouldn't make a profit because it's meant to boost economy
@@reggie69. for some reasons, travelling by airplane is sometimes cheaper than by train in Vietnam. The normal price for plane tickets is higher, but airlines usually sell plane tickets with a huge discount, making it cheaper than train while also being way faster.
For context, my girlfriend used to live in Da Nang which is 800km away from Ha Noi which is where I live. The 2 options I usually takes are sleeper bus which is the cheapest while also a little bit faster than train, or by airplane if there is a ticket discount. I only took the train one time in my life for the novelty of experiencing the "communism train" as we call it jokingly because the interior and experience is still exactly the same as 30 years ago lol.
Solid content. Thank you. I believe the Vietnamese government is looking at Singapore, HK, Japan, S Korea and China's economic strategies and will take the best from each, resulting in measured steps to privatize the core industries step by step. Also trading partnerships with EU, UK, CCCPT show its global vision.
Privatization is important, but I think a lot of our key industries should still be in the governments hand. Since too much privatization can open our country to foreign manipulation and intervention, like what happened to a lot of Central American countries in the 70s, 80s, and 90s. Where foreign mega corporations controlled the governments and can topple the regime at will (check the Banana republics and you'll see what I mean).
Actually, I suggest that 10 years later you look back and you’ll absolutely see everything remains unchanged. It’s a very weird economy, to some extent, it replicates that of Chinese Communist.
This is such a great and compiled video but forgot to address how education can play a significant role in Vietnam's development. Relatively they are always at the top of any Olympiads of Math, Physics or Chemistry, alongside with other much richer countries.
The Vietnam paradox. For a country with relatively poor in term of economy but have done well above developed countries in those aforementioned. This contradicted the correlation between wealth of a nation and its educational ranking.
According to my research, the good people of Vietnam go to all developed countries (because they offer more attractive policies).
@@hoctapdotmu the good people of Vietnam go to all developed countries? your research? lmao Sr where have you left your brain? Such as kid's argument
@@wanderngchopstcksii1078 GDP is a fake number, you have to really live and have experience in vn
@@hoctapdotmu NHỮNG NGƯỜI Ở VN KHÔNG GIỎI THÌ SAO LÀM ĐƯỢC NHỮNG VIỆC MÀ NGƯỜI GIỎI Ở PHÁP,MỸ PHẢI THUA?
IF PEOPLE IN VN NOT TO BE GOOD AT THE THINGS,HOW THAT GOOD PEOPLE IN FRANCE AND AMERICA HAVE TO LOSE TO?
Leaving a huge part that the US sanctioned Vietnam due the Khmer rouge genocide, also the long skirmish with China after the 1979 attacks on the north. Diplomatic tie with China only restored in 1989 with the Chengdu agreement and the US only lift the sanction since 1995. The country has not at peace since 1975, at least not in the Western media views, but only in the 90s that the country could focus on the economy. Not to mentioned all the UXO and mines left in the country, which likes to go boom if you want to build road over them.
Salute to Vietnam 🤝
VN còn chặng đường dài phía trước, quả ngọt chỉ có khi chúng ta làm việc cố gắng. Con cháu sau này của chúng ta có được ngẩng cao đầu hay không phụ thuộc vào thế hệ hiện nay xây nền móng.
Greetings from U.S. Vietnam is a lovely and unique country . So far they are the greatest warriors on earth that always impressed the world. Only a nation that defeated the mongols 3 times in 13 century and humiliated chinese empires 14 times in History when China tried to invade them. They also crushed 3 powers: France, America and China in 20 century. The war in 1979 was a total military disarter for Chinese army as they got a huge casualties by Vietnamese local units and failed to save the genocidal Polpot regime in Cambodia . Only 25 years living in peace but now 2024 as we know Vietnam has become a new Asian economic tiger, one of the fastest growing countries 8,2% in 2022 , a upper middle-income country with PPP 16.000 or GDP per capita - 5000 dollars in 2023. Moreover, now Vietnam is one of the top 20 biggest world's exporters 370 billions dollars in 2023. They are even building a huge EV Factory-Vinfast Cars 4 billions dollars in US and India, Indonesia.
I am, and we are glad that our changes have finally been recognised. I don't know how long it will sustain, but the last decade was undeniably great for the Viets' economy and that I know at least we have been trying to rise up!
Current fact has replicated precisely what happen in 2012, how well we make the same grave mistake again and over again with the freaking operation.
Vietnam still has a lot of problems like corruption and over population but at least we have low inflation, besides crazy house prices, other costs are acceptable and still have room for growth. I'm not rich but live quite content and comfortably in Vietnam: going to get massages, spas, sauna, hair salon, nails service a few times a month, going out to nice restaurants frequently, most things are affordable and abundant
Another problem is leaking gray matter unless u have connection hảd to get gpod paying job
There is no such thing as overpopulation. In fact I'd say Vietnam needs more children.
@@andro7862 there is too much children will add to many people to the work force and it mean labor become to cheap so living standard fall
As a Vietnamese, the fact is the population in Vietnam has tendency to decrease gradually regarding to the birth rate recently. We are really afraid that population will become "old" before our country becomes a developed country.
Have a family and all that privilege will be gone.
A bunch of kids cannot grow to be good members of society without guidance of a teacher or parents. Vietnam needed a powerful central government to grow its young economy and guide the people for the first steps until they are able to walk on their own, creating private enterprises and inviting foreign ones. I believe Vietnam has implemented a decent economic and social system, always balancing growth and ethics.
True
BS they took over one of the best economy in SEA(Saigon) and destroyed it with communist's policies. The only good thing they did was realizing they're idiots and got out of the way of the talented Vietnamese people.
😅😅😅 rampant corruption is one of those features has been hampered everything in this country, those who responsible for that fact have never ever taken their own mistakes as well as responsibilities. Further more, the lack of transparency in any aspects in society. Property bubble is a telling example.
@@hungsonpham6226 corruption happens in every country. It just you are Vietnamese and only see the bad things in our country.
Vietnam does not need a corrupt and thieving communist government. Vietnam needs a democratic government. What the hell do corrupt, thieving, shameless communist liars such as you know about ethics? You only know how to lie, lie, and lie.
Vietnam rising really make some countries nearby feel......unhappy, as i see.
Why can't we be friend to each other?
Who is the unhappy to the rich vietnam?
@@beastmood6635 because of political, religious conflict, people will never be truly nice to each other.
my theory is that probably because "almost all" of East and South East Asia were indirectly and directly involved during the multiple wars in the last century trying to destroy Vietnam, thus they fear that if Vietnam gets stronger they will be targeted, or simply they feel that the rapid development seen before in their own countries should have brought them to the level Vietnam couldn't hope to reach, and the current situation does not meet their expectations and they might feel like being left behind?
As a Vietnamese myself, I can confirm that we prefer to set the past aside, since ancient times, we have faced many hostile powers and they came from everywhere, ganging up on us. We simply think that our geography is both sacred and cursed, so as long as other countries don't try to do unnecessary things that leave the impression of "rubbing on our scars" like talking down on us, we can all move on toward a better future!
Asian hate each other somehow, that is what white can't understand
hahaha, Vietnamese people has been in food starvation in early 1980. Thanks to the collapse of Soviet Union, otherwise nothing change. The change is only for survival of communist regime.
I don't think the state will ever relinquished its ownership on Energy and Transportation sector and personally I don't think it is fitting to have these essential commodity being privatized either. Privatization doesn't always come with efficiency but always come with increase profitability which not always correlate with productivity or improvement. Companies will happily cut cost and corner just to squeeze out a cent of profit like how government agency suffer from all host of issue. However depend on the country you live in, you can have a say in your government by voting. There is no such thing when it came to private company. If your area suffer from bad service and the only provider is a private company ? You are out of luck. What are you gonna do vote them out ?
EVN the state own enterprise which controls the electricity of the entire 100 million people. Pro western Vietnamese think that we should privatize EVN and let private company join the party and take a slice of cake out of EVN. But recently, private own gas stations in the South of Vietnam run out of oil and gasoline and force the government to push the price up to 2$ per liter. But luckily, PVN the state own gas company still do it best to provide the people with almost full tank
I'm from australia and privatized energy sector is bad. Letting a company control your energy resources increases your taxes and bills because they are capitalist in nature and will try to take the most of your financial living.
@@deafea4867 no it is not. Govt fine any companies from hoarding gas and fuel and if companies persist, the govt ban from trading permanently. But then why govt need to raise the price when they can provide sufficiently? Obviously it is for profit
Unfortunately, recently Vietnamese state own coal corporation was under fire with accusation to export high quality coal to China while selling low quality coal to EVN (Vietnamese state own electric company). Occassionally, they demand higher price from EVN which lead to EVN propose to increase electricity price in national assembly.
Not all state own companies work for people
@@Teochewtuahang tư nhân phân phối xăng dầu chứ ai phân phối? Khắp cái SG bao nhiêu trạm xăng dầu nhưng tại sao tụi kia đều than lỗ ko bán? Duy nhất petrolimex chấp nhận lỗ vẫn bán. Lúc có tin xăng sắp lên giá nhà nhà xăng tư nhân để biển nghỉ bán ko bán hay bán giới hạn ghim hàng chờ xăng lên giá. Năng lượng mà quăng cho tư nhân thì cái VN này đi bộ
The miracle happened as soon as the war ended, we did not see America or any international agents as enemy but as friend. Even til today, you can feel welcomed in VietNam As foreigner, much different from the like of Cuba or China
Lol, no it didn’t. It took over 16 years to have any effect.
Many developing countries in our world should learn from the ways developed countries came to be. Look at many Asian countries how it was decades ago and now how it is. Many Asian countries are under development, but rapidly growing. If other developing countries follow in their footsteps, we will live in a very advanced world.
Saying that command economy has always failed to make economies grow is a fallacy - they have been highly efficient when it comes to build up an economy from a very bad point of departure
And Taiwan's reforms of land ownership is hugely complex topic and nowhere near the description put forth here
with bad leader, command economy failed.
actually we learned the system that can build ok leader with ok ethic.
and some big countries see that, so they try to de-stablize Vietnam so the edgy leader with lower skills might appear. That's the war we are facing now
Vietnam economy is" command economy with a socialist orientation" !That's why in Vietnam rapidly reduce poverty from 58%(1990 ) to 4% (2022)
I believe it will lean towards a more South Korean approach where govt will prop up rich businesses to make the global powerhouses
5 years ago it did feel like that was the direction. However, when Nguyen Phu Trong consolidated the power within the government, Vietnamese millionaires and billionaires are being prosecuted up and down.
Vietnamese do study from South Korean. But I think we have to find out suitable path in nowadays world. We should establish large firms in emerging niche industry (software outsourcing, coffee, basa fish, handcraft, AI, robotics) and strategic material manufacturing industries (steel, cement, oil). Otherwise, we can't compete with China, a manufacturing superpower which can produce all quality items at the lowest cost and large quantity.
Yes, but Vietnam will not let private enterprises take power like Korea did. You can see how big companies like samsung manipulate politics and law
The best thing to happen to Vietnam is to put the Đổi Mới Program on full power and TOTALLY ERADICATE socialism/communism from our land. Communism was why Vietnam became so poor and is STILL POOR!
Vietnamese people are so hardworking. We deserve a MUCH BETTER future WITHOUT socialism and communism. Do your part by DESTROYING the communist dictatorship in Vietnam.
@@HaTran-32nhukm không như Hàn Quốc, Nhật Bản,...họ tập trung sản xuất công nghiệp, tiêu dùng, công nghệ,...Việt Nam thì nhiều doanh nghiệp vì tham lợi nhuận của bất động sản mà bán các công ty sản xuất công nghiệp, tiêu dùng,..cho nước ngoài lấy tiền đầu cơ bất động sản. Họ lũng đoạn kinh tế, không làm gia tăng giá trị sản xuất.
I'm so proud of Vietnam. After being ravaged by war, poverty and a dictatorship type government, the people took a hard look at themselves: "Why can't we be rich like the West?". We Vietnamese love money and to make money, we need to grow business.
I hope the people in Middle East countries like Iraq, Afghanistan and North Korea would one day take a leaf out of Vietnam's Book.
学习你们什么经验？？ 嘴炮强者😂😂😂😂
@@Li.Meng. ếch mở miệng ra là chê, tự cao, và nhận vơ. 😂😂😂
@@Li.Meng. 感觉不如支猪的嘴炮能力厉害
@@Li.Meng.thật tội nghiệp cho những chú ếch. Suốt ngày chỉ biết lao vào làm việc 14/24h trong các nhà máy chỉ để nhận lại những đồng lương để trả góp tiền ngân hàng rồi tự cho mình là nước phát triển. Chắc hẳn 1 chú ếch như mày thì sẻ không đủ khả năng kinh tế để bước ra khỏi cái giếng mà ngước nhìn thế giới. 😂😂😂😂
@@Li.Meng.trung quốc những kẻ rác rưỡi của thế giới
Việt Nam sẽ không quan tâm đến các bảng xếp hạng. Vì nó không mang ý nghĩa gì. Điều quan trọng nhất là người dân ấm no hạnh phúc với cuộc sống của họ.
Việt Nam sẽ không quan tâm đến các bảng xếp hạng.
Miễn sao Đảng viên CS bỏ túi thật nhiều tiền rồi tìm đường trốn ra nước ngoài. Ví dụ: cựu giám đốc tờ báo tuổi trẻ đã mua nhà và mang cả gia đình sang định cư ở San Francisco, một thành phố đặc đó nhất nước Mỹ
Well done. If Vietnam steers clear of collectivism and the government continues to encourage its intelligent hard working population to gain a top economic position in the world , the Dragon will fly high. I have lived in this cultured society for over 10 years, I Love Vietnam. Great to live in a country that feels Free. 🙂
If.
Even if Vietnam is not a dragon, but an earthworm, so the fact that you consider it a ''cultured, free and great to live" society is already very good for us... Thank you for saying the truth
Những người ae quận Cam có thể hoàn toàn tin tương vào sự lãnh đạo của đảng hiện tại.Việt Nam chắc chắn sẽ sánh vai được với các cường quốc năm châu
Mong rằng đất nước Vietnam sẽ mãi mãi phát triển và giúp ng dan có thể ngưng đầu lên nhìn thấy mặt trời. Love my birth country, Vietnam!
@@sonnynguyen5917MỞ MẮT RA MÀ XEM NGƯỜI NƯỚC NGOÀI VIẾT VỀ VIETNAM THẾ NÀO Ở TRÊN NÀY:
@jonwebb9022
4 tháng trước
Well done. If Vietnam steers clear of collectivism and the government continues to encourage its intelligent hard working population to gain a top economic position in the world , the Dragon will fly high. I have lived in this cultured society for over 10 years, I Love Vietnam. Great to live in a country that feels Free.
Congrat's to them: good on ya, Vietnam!!
Very interesting and informative 👍
Good for Vietnam.
10 years later you will see how “good” is it man, what a very flop
Wow Great VN , that's amazing 👍👌❤️🇻🇳
Việt Nam cố gắng đi! Chúc mặt đất này càng ngày càng tốt
Vietnam= Dragon of the east.
More like southeast
It is assumed that western style democracy model is the best. All models are wrong there are just good ones. Which means there exists better ones, only undiscovered.
It has not been widely propagated and has been smeared a lot
Wake up Philippines. In Philippines it's big debate if we open up our constitution to foreign direct investments. Seems like oligarchs will just continue to role the country and the income gaps from poor to rich is so high.
Yeah it’s kind of sad , you guys are awesome and deserve more.
110 million Pinoys are a huge cash cow for the rich. All want their wealth remain in their family. For example, the average cost of internet/telecom will be cheaper if FDI firms invest in your country. But Philippines should control some strategic industries to keep down unit cost (water, electricity) like Vietnam.
@@khoadinh9897 just like in vietnam. You have many investors but still lack of infrastructure and transportation. The poor remains poor and the rich remain rich. That's why they migrate in other countries just to have a good life. Your country are just ahead in terms of gdp growth and investors. I'm sure if philippines will open to others their economy will boom, it's just they fucos too much in their infrastructure, and now they slowly fix it's problem just for the sake of its people.
Seems only some rich and powerful gained more in the Philippines... and the Philippines stays a laggard... sorry, seems blurred hope... 💔
Vietnam is not only war.
Vietnam also has a very famous culture and cuisine such as banh mi, ao dai, pho.
Vietnam has the tallest buildings in the region such as Landmark 81
Vietnam is also participating in the export market of VinFast branded electric vehicles, North America and the EU will receive this type of vehicle.
Vinfast is mediocre. Malaysia has the tallest building in SEA. Vietnam is still very much behind in most things.
Do you have a Vinfast? Or just comment for fun
@@thevannmann the future will decide everything, you wait and see . Malaysia vs VietNam
@@thevannmann malesia give away
@@hungsonpham6226 vinfast is a scum. Vinfast doesn't make any parts,they just buy batteries and parts from china and assembly it in Vietnam
The primary reason why Vietnam has grown so much is because of the "State-Guided" economy has prevented expatriation of whatever was the end result of those "Joint Venture" initiatives. China has a really bad reputation around the globe because they will invest money into projects and then swiftly reclaim the costs or outright abandon whatever community allows them in. Cambodia has a lot of chinese investment, locals talked about Chinese casinos which then had a city build around them basically drove a huge amount of infrastructure into that region and then the money evaporated. Vietnam has not allowed the Western mentality of "divide, conquer, and pump/dump" that is prevalent in our modern economy as companies buy up rivals, consolidate, and then ruin the markets. Vietnamese people are hungry for a modern lifestyle and better quality of life, but for the average citizen it is not at the expense of everything else. You could call it "sensible" business policy, Vietnam has had a lot of growing pains in such a short time and during that time it has tackled corruption along side trying to maintain sustainability.
The main hamper for the future of the economy is the limited and single mindedness that a typical Vietnamese businessman has. The average Vietnamese neighborhood has a house on each side with a business. You might have 3 ice cream/yogurt shops within a 2 minute walking distance. ONE of those shops is actually successful, because the product is higher quality. Those other food shops shouldn't exist, they make very little in profits if at all. There are many types of businesses "coffee shops being a major one, there are too many" that are extremely competitive and difficult to make successful, that just keep popping up and they offer nothing besides merely existing. It could be a front for money laundering, it could just be lazy business administration and poor research of the market itself. There is no way that 5 coffee shops on the same street can make money, the average Vietnamese person barely makes 700 to $750 a month and the expendable income for the MAJORITY of the population is just not there. The only thing that is rational about it is that this keeps prices artificially low, so people can afford to go out.
Actually Doi Moi means New Life or New Era .
It means renovation
đổi mới not đời mới. đổi mới means to change things in a new way that they havent done it before
Doi moi mean NEW world order.
không, đổi mới có thể dịch là new reformation
@@deafea4867
Yeah your right I just heard the Vietnamese pronunciation from an actual Vietnamese person,
Lol I got six likes , they probably thought what I thought too .
We as a Timorese we need to learn a lot more about the neighbouring countries rather than hurrying to go into a member of the Asean just because of some people, family or a ethnic group demanding it. After the departure of the Indonesian and the UN the infrastructure and the economy of East Timor was managaged by so many former "guerrilheiros" lef out some people whom very much useful to govern the country such a late Mr. Mario Carascalão..who was a previous governor back to the time East Timor was one of Indonesia province's.. the guerrillas people still in the office..so East Timor will go whenever they want to...even we as people..we doesn't even know what we have to give apart of Oli 😉 of course... by the way the infrastructure and the economy is still managed by the government rather than private sector (mostly own by elite government) or investor..so good luck to the other members to welcoming us... We have been learning for about 20 years and on...but still doesn't have a clue of what is this oils all about.. luck for us as a people we never beg them guerillas for money to life our lives...we work dam hard to survive..to be continuing...HAU MAUBERE OAN..MATE KA MORIS MAUBERE OAN NAFATIN 🇹🇱
Is the Doi Moi model similar to Deng's policy in China in the 1970s? The economic miracle only could have happened after changing their model from the classical Marxist state-run businesses. Why it took until the 80's? Because the country was in bad shape because of wars. It needed to rebuild its infrastructure. I'm watching bloggers from Vietnam and amazed that there is the modern look and the small shops coexist.
Yeah similar to Deng policy in 1978. And the reason is because of General Secretary Le Duan, he was a hardcore communist, the country can only change after he gone
You have provided incorrect information. In the 1970s, although the United States withdrew from Vietnam, the embargo still took place, making the economy very exhausted, forcing the government to issue an order. We call this the subsidy period. government to guide the country through this difficult time.
I think Vietnam is going to keep being socialist.
5:50 Malaysia flag
Capitalistm going with the purpose that makse as much money as they can, it purpose is to increase benefit .In the other hand, communist's command economy is going with the purpose to balance the benefit of everyone. BUT, while profit does not always get along with humanitarian, commandng economy also not mean high quantity and quality, bcause it come along with one of human sins: sloth (lazy). My grandmother was life in the time which we call "bao cap", mean that "work as you can, gain as demand", which the hard worder and lazy worker earn as the same, but the hard one has to carry the lazy's quantity output. The gov realize that and then it come out with Doi Moi (thanks sir Truong Chinh), which will balance the wealth gap but still have condition to develop the economy. That what i understand about the circumstance as a citizen of Hanoi
hoping vietnam inpite of being a socialist country will not follow chinas govt total control of its economy....grab all the opportunities the world is offering you,just make sure the basic agricultural needs of your people is low unlike here in the phil werein basic agri needs is controlled by the trader or middlemen
byebye phillipines bck to dark age economy vietnam new s.korea of asean
"Xã tắc từ nay vững bền
Giang sơn từ nay đổi mới"
Nguyễn Trãi
Glad the country is improving after the years history of horrors. Doi moi = new life
I imagine " Doi moi reform" in Vietnam with Western economy happenning finally.🙏👍
vietnam my beloved country.
Doi moi it's coming back 🎉
Foreign agriculture companies will have land warranties from government. No need land possession.
All I hope to help and grow the world economy with god words…
The Philippines should collaborate with Vietnam and consider now Vietnam should build a Filipino town as a representative and further cooperation with the economy since we have a common enemy country remember.
If you want a Filipino town then come to build it yourself! 😊
vietnam dont care for philipines, yall dont bring anything to the table.
Great idea. Now you should initiate. 😂
The government need to upgrade forward to trending industries (Artificial intelligence, robotics, self-driving system, EV, internet of things). Otherwise, we are going to stuck middle-income trap, can't compete with giant China + already developed countries, also lag behind cheaper manufacturing countries.
Viettel makes its own 5G equipment, researching 6G technology, FPT corporation is going to produce made in Vietnam semiconductor chips , VinFast electric cars like VF8 & VF9 exported and sold in Canada , USA and Europe. BKAV & VinAI a Artificial Intelligence company creating AI technology products and services like camera. Many large tech companies/ Unicorn like VNG and Blockchain technology like Sky Mavis Axie Infinity.
It's a start it will take some time for the country to have a few global tech brands.
Vietnam have made much industrial and technological progress in the past 15 yrs or so. It has many industries including steel, automotive, ship building, electronics, chemical, pharmaceutical, manufacturing, and ICT. The big industry of the future is in ICT (AI, big data, blockchain, 5G, fintech, etc.). It has world-class ICT companies such as Viettel who develops its own 5G technology, FPT/FTP Software which is recognized globally, CMC Corp, and VinAI. Auto manufacturers (Vinfast, THACO) is exporting EVs in North America and Europe. The country also produce ships of many types, large oil rigs, advanced missiles (including VCM-01, Yakhont), weapon systems, robotics, IC chips (FPT Semiconductor), medical devices, vaccines (including COVID and first African Swine Fever vaccine), smart devices/phones (Vinsmart, BKav), 5G (Viettel), super-tall skyscrapers (Landmark 81, Empire City).
@@DanKann86 Good progress. I agree that Vietnam have some world-class firms. However, don't be overproud for these little success, we need to invest more for human capital/Vietnamese companies because our competitors will not stop, and keep pouring money into R&D and new industries. In fact, Vietnam is depended on China and USA too much, also the foreign-owned companies still dominate exports, imports but contribute limited tax to national budget (tax incentives and transfer pricing technique) + buying/importing internal FDI companies. Hope we will have more domestics firms, which spread the money to the whole society.
@@khoadinh9897 It was intended to show things are not as lack-luster as you initially painted and where many notable achievements have been made. And they are certainly not little success. Sure, there are many more steps needed in the long road ahead with many challenges to overcome. No one is questioning that here. Vietnam is a developing country with limited budgets. Even so, many accomplishments through research have been made and that is increasing. A developing country (having limited resources) also need to focus on mastering existing technologies to be able to hopefully advance (or not to) the technologies further in the future. As you and I mentioned, ICT is the big industry of the future. As for this industry, Vietnam is certainly not being left behind, but have made rapid progress. Fortunately, this industry is readily attainable for success and human talent is the most important resources.
Philippines new Tiger is coming...
Wow...follow in the footsteps of SK, HK, TW and SP. And what about China? If there is an outstanding economic rise you want to mention or compare to, you can't simply ignore China...(although HK and TW are practically China too).
And the successful model of Vietnam explained in the video is practically the same as in China...
U forgot to mention the sanctions right after the war
he mentioned "the embargo", and generally, "embargoes" are more intense than "sanctions"
My country rose from the ashes of war. if other countries would definitely disappear from the world map.
You never heard of Japan, Germany and Italy? You think they disappeared after the war??
Without Chinese culture influence like confucianism, Vietnam would be like Cambodia today. Culture 0lay a big part in a country's development.
Japan and South Korea are Confucius country that were culturally inlf8by china
@@timedone8502 bạn nên tìm hiểu về lịch sử Việt Nam. Việt Nam từng bị trung quốc đô hộ 1000 năm, và Việt Nam vẫn giành lại độc lập. 1000 năm sau, Việt Nam với trung quốc vẫn đánh nhau thường xuyên. Mông cổ từng thôn tính cả châu á, châu âu, nhưng thất bại 3 lần ở Việt Nam.
Thời hiện đại, Việt Nam đánh nhau với Pháp, Mỹ, trung quốc, Khmer đỏ...... Việt Nam mới hòa bình thực sự 30 năm.
Full on western style economy? There is no such standard among the many westernised countries.
Just explain how each and every party leader is getting richer and richer whereas their personal income is no more than 1,500 US$/month.
😂😂😂 họ giỏi có thì giàu chứ sao 😂 ở Việt Nam học giỏi có phẩm chất thì vào đảng viên rồi làm lãnh đạo chả nhẽ lãnh đạo đảng viên không được giàu mà 1.500 đô la là ở châu phi chứ Việt Nam công chức nhà nước 500 đô 😂😂 bị mù à
it doesn't matter if Thailand going to face another military coup or not
if Thailand doesn't have a smart leader like PM Thaksin then Vietnam will overtake Thailand and become the new, unofficial, Asian Tigers
It seems like western country favor Thailand and Vietnam.
But completely overlooked Cambodia who is being favor by China, Japan, French, Russia and Korea. Now this is a major component for economy growth as well, steady but surely Cambodia will suprise the world.
How? By expløiting thousands of VN people with low wages and no labor rights, and with little environmental practice under a commûnist government. That's why many people migrate to other countries to improve their quality of life and it's important to send the manufacturing to mexico,indonesia or other democratic nations.
True
Yes
Exactly👍
It doesn't need to be communist. My country is not under communist rule and sustains the same elite advantages and working-class disadvantages you mention.
mate if you are going to say it, why censored yourself? grow some balls and type it out
0:31
Thats the Nordic model adapter to Asia. Pure Capitalism have given US the US we see today with all its problems for the working class
Vietnam spent 15 years (1975-1990) to centralize its economy before they realized that it didn't work. Vietnam has high growth rate partially because of the low base effect. Once it reaches to the point, it will be trapped at middle income group.
Philipines, Thai, indonesia... realized that a long time ago, why they cannot develop as fast as Vietnam and China did. Do you understand?
@@phantrangcdThis video is talking about Viet Nam. I don't care about Phillipines, Thai, Indonesia ...etc. Be focus ok.
@@MyKheBeach so that, what do you mean? How could you do if you was Vietnam's leaders at that period?
don't worry we're just getting started, there's still a lot of work to be done, but that's the story of the future. Thank you for your comment it will probably help us see the points that need to be fixed 😁
@@phantrangcd nó là 3/// đấy
Built on rice & fish sauce
Foundation of Hyundai corp is a rice shop.
How many American workers can afford to buy a house in New York? Don't answer, think about this question
Nah, socialism isn't bad in the first place, it's only bad in the eyes of the US government😂😂😂
You're barking so well, why don't you live in some communist countries?
@@fuhlerofsonasystem486 Socialism isn't communism
Yeah people in Sweden sure glad to live in a "socialist" country
@@TALK-is1qd Why don't you google "Is Sweden a socialist country?" and see what those websites say? Just because you say Sweden is a socialist country doesn't mean it is. What a joke.
Due to manufacturing
Wow
A communist government that supports market based economy! What an oxymoron 😂😂😂
Sound weird, but China has applied market-based reform and success to be a upper middle-income country. But Vietnam can't compare to China because our size is relatively a medium province of China. It should be a creative way to make market-based economy tailored for 100 million population like VIetnam.
Đúng vậy, đất nước chúng tôi kỳ lạ lắm, đa số người dân chúng tôi yêu mến những điều kỳ lạ
No, it is the future in an endangered world.
in short, capitalism.
What in other countries :India,Bangladesh,Philippines...They have not it yet?
@@thuankhong India was socialist until 1991 when it had its IMF reforms which did similar things, after that it has lifted hundreds of millions out of poverty, and has consistently grown at 6 to 7% growth rate ever year. If India had embraced capitalism 10 years earlier it would have been wealthy by now.
This is scraps. You just parode the propaganda. What you say is pie on sky.
Comunist 's corruption in Vietnam is the worst. Human rights watch need in Vietnam
*BASED* Vietnam 🇻🇳
Vietnam economy was buikt upon Chinese material, technology, manufacture know how and even Chinese electric power supply. LoL.
Wrong.....😂
Stupid babble.
Sởe huiqxnm🤔🤔🤔🇻🇳
Vietnam's rise basically shows that Capitalism works
Vietnam still lacks indispensable parts of capitalism: beggars, homeless, illiterate, lacking social justice that many capitalist countries in world have.
In Vietnam, the child of an ordinary worker can win a high prize at the international Olympiads, if he(she) is smart enough.
Ano.masasabi nyo dito mga dutae at beybi em sara supporters😅
Sarado mga utak mga yan mga panatiko mga yn
vietnam govt follows china to the teeth on economy, real estates etc... china at least build its cities first vice vietnam bangs on foreign investments to build its cities, so how vietnam can be better than china. If china collapses then vietnam will be too.
That is just the dream of defeated people who have been exiled in America for 48 years
@@thuankhong I agree with you
WHEN YOU BUY A HOUSE ONLY FOR 99 YEAR THEN TURN TO COMUNIST CONTROL
It's not like that, in Vietnam, if you buy land, it will belong to you forever. unless you die without any heirs, your land will belong to the government
Stupid do as stupid does. Next time get rid of CAPITAL letters.
If you have no knowledge of what you speak, shut up and do research.
@@bruhbruh8770 You get PAY
@@tronghungdao251 3 sticks mentality
เสือตัวที่5แห่งเอเชีย แทนที่ไทย
Really, I dont believe so
Vietnam will remain a socialist-oriented economy, forever because: 1) it enshrines in the constitution. 2) Per WB, UN and ADP Vietnam's poor is at less than 5% besting all ASEAN and also leads growth of middle-class. 3) Even during global economic crises of the 1990's, 2003 and post Covid.... Vietnamese economy remains less impacted and fST RECOVERY BECAUSE STATE-OWNED INTERPRISES RISED UP AND STABILIZED.