Economic Development of the Socialist Republic of Vietnam in the Context of its Integration into the World Economy
Year: 2025
Type: article
Abstract: The relevance of researching Vietnam’s economic development in the context of its integration into the global economy is particularly significant given the rapid changes in the global economic environment and Vietnam’s active participation in international economic processes. The object of this study is the economy of the Socialist Republic of Vietnam from 1990 to the present. The aim of the research is to identify the role of external economic ties and international integration in ensuring Vietnam’s economic growth. The study addresses the following tasks: characterizing the country’s economy; identifying features of Vietnam’s economic growth; influence of Vietnam’s foreign economic activity on its economic growth. Special attention is paid to the role of foreign direct investment, official development assistance, and international trade in shaping Vietnam’s open economy, as well as the internal and external challenges the country faces. The methodology and methods of research include systematic and logical analysis of economic events, comparative analysis, and methods of generalization and comparison of information. The empirical base of the work includes statistical data from international and national organizations, including Vietnam’s General Statistics Office, the World Bank, the IMF, and the International Labour Organization. It has been found that Vietnam is actively promoting the process of international economic integration and implementing reforms in the institutions of the socialist market economy to enhance competitiveness. Over the last 30 years, innovations have been made in key sectors of the economy. Conclusion: Vietnam’s policy today is aimed at continuing to implement three strategic breakthroughs in economic development: institutional breakthrough, infrastructure breakthrough, and human resources breakthrough. Vietnam is striving to restructure its economy to enhance national competitiveness, achieve sustainable development, and implement the United Nations Agenda for Sustainable Development by 2030
Authors: Anna Glebova, Duc Phuc Nguyen
Institution: Financial University
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4409070710