Socialist Republic of Vietnam

The Socialist Republic of Vietnam is a country in Southeast Asia, officially a socialist republic led by a communist government. It was reunified in 1976 after the Vietnam War, with the Communist Party controlling political and economic policies. While maintaining its socialist identity, Vietnam has introduced market-oriented reforms since the 1980s, boosting economic growth and integration into the global economy. The government emphasizes collective goals, social equality, and state-led development, but also encourages private enterprise within the framework of socialism. Overall, Vietnam balances socialist principles with pragmatic economic reforms to promote stability and growth.