The miracle of the Renovation process over the past 40 years

Vietnam has proven in practice the elements of a socialist-oriented economy. That is, developing a multi-sector economy with multiple ownership regimes regulated by a rule-of-law state of the people, by the people, and for the people.

It can be seen that at the Central level, everyone is rushing to prepare for the 14th Party Congress, in which the most prominent is the summary of the country's Doi Moi process initiated in 1986. On June 12, 2024, President To Lam chaired the Steering Committee meeting to summarize 40 years of Doi Moi. The President said that this summary is a very important task for the Doi Moi process, building and developing the country along the socialist path.

Landscape of Cau Giay district, Hanoi. Photo: Hoang Ha

The President pointed out the need to inherit the results of the summaries of 20 years, 30 years of Renovation and, importantly, the last 10 years. Also on this day, General Secretary Nguyen Phu Trong chaired a meeting of key leaders to evaluate the past 2 months, speed up the progress of trial of negative corruption cases, and focus on reviewing and supplementing the planning at all levels to prepare for the personnel plan for Party Congresses at all levels. It can be seen that at the Central level, everyone is rushing to prepare for the 14th Party Congress, in which the most prominent is the Summary of the country's Renovation process initiated in 1986. This summary has been conducted once a year (approximately 40 times), once every 5 years (through 8 Party Congresses, and soon 9, in 2026) and once every 10 years (with milestones of 10 years, 20 years, 30 years, and soon 40 years). These continuous, methodical, and elaborate summaries, both in theory and in practice, have demonstrated the historical depth, responsiveness, and erudition of the Vietnamese revolution in contributing to the common development of countries and peoples in the world, especially the contributions to implementing the transition period from Capitalism to Socialism on a global scale. First of all, Vietnam has creatively implemented Marxism-Leninism with Ho Chi Minh's thought in establishing the Communist Party of Vietnam since the 1930s of the last century, successfully carried out the August Revolution in 1945 to seize power for the people, successfully conducted 10 years of resistance against French colonialism, and decisively defeated American imperialism in 20 years to liberate the South and unify the country. In the world, many countries have established Communist Parties, many nations have seized power for the people, many nations/peoples have entered into building socialism but failed halfway, some nations have transformed themselves, abandoned "the proletariat in all four directions are brothers". Vietnam alone has entered the first stage of the transitional period towards socialism for nearly 40 years by creatively applying Marxism-Leninism to the specific historical circumstances of Vietnam to solve the fundamental problems of the Vietnamese revolution, bringing about great results in practical activities on Party building, on building a rule-of-law State of the people, by the people, for the people, towards the goal of a rich people, a strong country, equality, democracy and civilization. With all its modesty, Vietnam can still affirm that the country has never had such a foundation, potential, position and international prestige as it does today, as General Secretary Nguyen Phu Trong has declared. One of the achievements, and at the same time a unique contribution of Vietnam in both theory and practice throughout 40 years of Doi Moi, is the first appearance in Vietnam of a new model of the market economy. That is the socialist-oriented market economy. This proposal has been implemented, overcoming many challenges and achieving achievements that are admired by the whole world. That is the admiration for Vietnam's creativity in 40 years of implementing the Renovation process, transforming the "classical planned economy" into a modern economy. Without this transformation, Vietnam would either be stuck in the lowland of the command economy, non-market, unable to integrate into the global economy; or would venture into the "classical market economy" whose profit goals are always associated with war, division, siege, embargo, confrontation... In order to avoid falling into these two scenarios, Vietnam has created a third scenario, which is the socialist-oriented market economy. This model has been attacked from many sides since its inception. Those attacks only recognized the capitalist market economy and the socialist market economy, not the socialist-oriented market economy. Vietnam has proven that this type of oriented economy already exists in the theoretical treasury of Marxism-Leninism, specifically Lenin's proposals on state capitalist economy, on the new economic policy of Soviet Russia. Not only that, Vietnam has proven by establishing in practice the elements of a socialist-oriented economy in Vietnam. That is to build and develop a multi-sector economy, with many ownership regimes, many appropriate policies, coordinated and harmonized by a rule-of-law state of the people, by the people, for the people, leaving no one behind.

Vietnam has opened up and embraced positive global trends to the maximum extent possible. Photo: Nam Khanh

Vietnam implements the guidelines, policies and guidelines of being friends with all countries and peoples in the world. In practice, Vietnam has established diplomatic relations with 193 out of 200 member states of the United Nations; signed 16 free trade agreements with 60 countries (separately and in the EU); established strategic partnerships, and at a higher level, comprehensive strategic partnerships with many countries previously in the socialist community, and with countries that have confronted each other on the battlefield. With a socialist-oriented market economy, Vietnam has opened up and tolerated to the maximum extent possible positive global trends (such as green economy, digital economy, transitional economy, circular economy, etc.), breakthroughs (such as semiconductor technology, nanometer generation electronic chips, electric cars, etc.). The socialist-oriented market economy invented by Vietnam has achieved outstanding achievements as voted and ranked by national and international organizations. From a country with a trade deficit from rice grains, sugar pounds, to liters of gasoline, screws, etc., Vietnam has turned the situation around, moving to a trade surplus not only in agricultural products, but also in light industrial products/heavy industrial products/electronics, semiconductors, etc. In 2026, the Communist Party of Vietnam will hold its 14th National Congress. There will be a resolution on guidelines, policies, and strategies for Vietnam to firmly enter a new stage of development. People expect that in the 2026-2030 term, the entire Party and people will fully implement the task of filtering the bad from the good for the socialist-oriented market economy of Vietnam so that this market can fully promote its pioneering attributes.

Vietnamnet.vn

Source: https://vietnamnet.vn/ky-tich-cua-cong-cuoc-doi-moi-trong-gan-40-nam-qua-2294924.html