Doi Moi

Doi Moi is Vietnam’s economic reform policy introduced in 1986 to transition from a centralized, planned economy to a more market-oriented one. It aimed to promote private enterprise, attract foreign investment, and improve productivity. This shift encouraged independence for local businesses, reduced government control, and integrated Vietnam into the global economy. As a result, the country experienced rapid economic growth, increased standards of living, and poverty reduction. Doi Moi represents Vietnam’s efforts to modernize its economy and develop sustainably while maintaining social stability.