This study investigates and identifies some of the primary determinants of Vietnam’s growth during the Doi Moi era and provides an assessment of their relevance and application to contemporary challenges. The Socialist Republic of Vietnam has an impressive record of economic growth and poverty reduction over the past two decades. Capitalizing on the advantages of its cultural and economic features, the strategy of incremental Doi Moi reforms has demonstrated the strength and commitment of Vietnam’s political leadership. The country has achieved middle-income economy status in 2009 and is aiming to become an industrialized nation by 2020. However, on the background of mounting domestic challenges and less favorable international economic conditions, the achievement of this ambitious goal seems uncertain. Growing economic affluence may have hampered some of the positive features, which had previously been instrumental in catalyzing growth and development, and the current reform processes appear to be stalling.
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