Abstract
Vietnam, with a transitional economy, has been emerging as a theoretically rich context for researchers over the last few decades. Painful reforms have been undertaken in the country to transform the rigid central planning apparatus into a market economy, breaking the long standing barriers to the private sector and SME development. In this context, entrepreneurship has become an essential driving force of economic development. Shifting from a de-entrepreneurship to pro-entrepreneurship stance, a more supportive policy setting has cultivated the quest for prosperity among businesses, grounding on a more levelled playing field for all, old and new, economic sectors.
This chapter aims at portraying entrepreneurship development in Vietnam embarking on a policy perspective. First, it examines the impact of doi moi, or economic reform process, which was triggered in 1986, and more generally the transition process of the Vietnamese economy which has subsequently changed the overall entrepreneurial setting in Vietnam. Next, it presents a closer look at the characteristics of the Vietnamese entrepreneurs as well as entrepreneurship in the country. Following is the discussion on the impact of policy on entrepreneurship development, detailing how policy changes have underpinned entrepreneurial growth in Vietnam since the country’s reunification in 1975. Finally, the chapter concludes with a view on the future of entrepreneurship in Vietnam.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Similar content being viewed by others
References
Abrami, R. (2003). Entrepreneurship in Vietnam: Transformation and dynamics. The Journal of Asian Studies, 62(2), 713.
Agency for SME Development. (2008). Annual report: Small and medium sized enterprises in Vietnam 2008. Hanoi: Ministry of Planning and Investment.
Ardeshir, S., & Akram-Lodhi, A. H. (2002). A crouching tiger? A hidden dragon? Transition, savings and growth in Vietnam, 1975–2006 (Working paper series No. 359). Netherland: Institute of Social Studies, The Hague.
Arkadie, B. V., & Mallon, R. (2004). Viet Nam: A transition tiger? Canberra: Asia Pacific Press.
Bekefi, T. (2006). Vietnam: Lessons in building linkages for competitive and responsible entrepreneurship. Cambridge, MA: Harvard University.
Beresford, M. (2008). Doi Moi in review: The challenges of building market socialism in Vietnam. Journal of Contemporary Asia, 38(2), 221–243.
Chu, H. M., & Katsioloudes, M. I. (2005). The pattern of business decisions among Vietnamese entrepreneurs in the socialist republic of Vietnam. Journal of Transnational Management, 10(2), 73–84. doi:10.1300/J482v10n02_06.
Dana, L. P. (1994). A Marxist mini-dragon? Entrepreneurship in today’s Vietnam. Journal of Small Business Management, 32(2), 95–102.
Dang, P. (2004). Stages on the road to renovation of the Vietnamese economy. In M. Beresford & N. A. Tran (Eds.), Reaching for the dream: Challenges of sustainable development in Vietnam (pp. 19–50). Copenhagen: NIAS Press.
Danna, L.-P. (2007). Asian models of entrepreneurship: From the Indian Union and the Kingdom of Nepal to the Japanese archipelago: Context, policy and practice. Hackensack, NJ: World Scientific.
Dinh, A. V. (2006). Vietnam economy 2001–2005 and socio-economic development plan 2006–2010. Paper presented at the International Forum on Economic Transition 2006.
Fforde, A. (1991). The successful commercialization of a neo-stalinist economic system—Vietnam 1979–89: With a postcript. In D. K. Forbes, T. H. Hull, D. G. Marr, & B. Brogan (Eds.), Doi Moi: Vietnam renovation policy and performance (Political and Social Change Monograph No 14). Canberra: Department of Political and Social Change, Australian National University.
Fforde, A. (Ed.). (1997). Doi Moi: Ten years after the 1986 Party Congress (Vol. Political and Social Change Monograph 24). Canberra: Department of Political and Social change, Research School of Pacific and Asian Studies, The Australian National University.
Fforde, A., & de Vylder, S. (1996). From plan to market: The economic transition in Vietnam (Transitions: Asia and Asian America). Boulder, CO: WestviewPress.
Gainsborough, M. (2010). Vietnam: Rethinking the state. London: Zed Books.
Hakkala, K., & Kokko, A. (2007). The state and the private sector in Vietnam. EIJS Working Paper Series, The European Institute of Japanese Studies.
Hansen, H., Rand, J., & Tarp, F. (2004). SME growth and survival in Vietnam: Did direct government support matter? Institute of Economics, University of Copenhagen.
Harvard Vietnam Program. (2008). Choosing success—The lessons of East and Southeast Asia and Vietnam’s future (A. Programs, Trans.). Cambridge, MA: Harvard University.
Harvie, C. (1996). Economic reform and future prospects of the Vietnamese economy (Working paper series WP 96-8). University of Wollongong.
Harvie, C. (2004). The contribution of SMEs in the economic transition of Vietnam. Journal for International Business and Entrepreneurship Development, 2(2), 1–16.
Harvie, C., & Tran, H. V. (1997). Vietnam’s reforms and economic growth. London: Macmillan.
Irvin, G. (1995). Vietnam: Assessing the achievements of Doi Moi. Journal of Development Studies, 31(5), 725–750. doi:10.1080/00220389508422387.
Kokko, A. (1998). Vietnam: Ready for Doi Moi II? ASEAN Economic Bulletin, 15(3), 319–327.
Kokko, A., & Sjoholm, F. (2006). The internationalization of Vietnamese small and medium enterprises. Asian Economic Papers, 4(1), 152–177.
Le, D. D. (1991). Economic renovation in Vietnam: Achievements and prospects. In D. K. Forbes, T. H. Hull, D. G. Marr, & B. Brogan (Eds.), Doi Moi: Vietnam renovation policy and performance (Political and Social Change Monograph No 14). Canberra: Department of Political and Social Change, Australian National University.
Le, D. D. (1996). Legal consequences of state-owned enterprises reform. In Y. C. Ng, N. J. Freeman, & F. H. Huynh (Eds.), State-owned enterprise reform in Vietnam—Lessons from Asia (pp. 63–76). Singapore: Institute of Southeast Asian Studies.
Le, S. V. (2006). The overview of SME development situation in ten cities/provinces and some initial findings. Department of Enterprise Reform and Development Research—Central Institute for Economic Management (CIEM).
Mac Lam. (2011). Dat nuoc can co doi moi lan nua (The country needs another doi moi). RFA.
Mallon, R. (1997). Doi Moi and economic development in Vietnam: A rapid overview of a decade of reform. In A. Fforde (Ed.), Doi Moi: Ten years after the 1986 Party Congress (Vol. Political and Social Change Monograph 24, pp. 9–24). Canberra: Department of Political and Social change, Research School of Pacific and Asian Studies, The Australian National University.
Marr, D. G. (1991). Where is Vietnam coming from? In D. K. Forbes, T. H. Hull, D. G. Marr, & B. Brogan (Eds.), Doi Moi: Vietnam renovation policy and performance (Political and Social Change Monograph No 14). Canberra: Department of Political and Social Change, Australian National University.
Masina, P. P. (2006). Vietnam’s development strategies. London: Routledge.
McMillan, J., & Woodruff, C. (2002). The central role of entrepreneurs in transition economies. Journal of Economic Perspectives, 16(3), 153–170.
Murray, G. (1997). Vietnam: Dawn of a new market. St Leonards: Allen & Unwin.
Nguyen, T. D. (2006). Promoting private sector development in Vietnam from the effectiveness of supporting policies. Paper presented at the International Forum on Economic Transition 2006, Hanoi, 11–12 April.
Nguyen, T. H., Alam, Q., Perry, M., & Prajogo, D. (2009). The entrepreneurial role of the state and SME growth in Vietnam. Journal of Administration and Governance, 4(1), 60–71.
Nguyen, T. H., Alam, Q., & Prajogo, D. (2008). State and market relationships: Public financial policy support for SMEs growth in Vietnam. International Review of Business Research Papers, 4(2), 203–216.
Nguyen, Ha. (2011). Ca phe cuoi tuan: “Can co doi moi lan hai” (Weekend cafe: “There should be doi moi 2”). VnEconomy.
Nguyen, C. M., & Le, Q. V. (2005). Institutional constraints and private sector development. ASEAN Economic Bulletin, 22(3), 297–313.
Nguyen, T. V., & Rose, J. (2009). Building trust—Evidence from Vietnamese entrepreneurs. Journal of Business Venturing, 24(2), 165–182. doi:10.1016/j.jbusvent.2008.03.004.
Ralston, D. A., Thang, N. V., & Napier, N. K. (1999). A comparative study of the work values of north and South Vietnamese managers. Journal of International Business Studies, 30(4), 655–672.
Riedel, J., & Tran, C. S. (1997). The emerging private sector and the industrialization of Vietnam (Private Sector Discussions No. 1). Hanoi: Mekong Project Development Facility (MPDF).
Ronnas, P. (2001). Introduction. In P. Ronnas & B. Ramamurthy (Eds.), Entrepreneurship in Vietnam (pp. 1–28). Copenhagen: Nordic Institute of Asian Studies, Institute of Southeast Asian Studies.
Ronnas, P., & Ramamurthy, B. (2001). Summary and conclusions. In P. Ronnas & B. Ramamurthy (Eds.), Entrepreneurship in Vietnam (pp. 326–344). Copenhagen: Nordic Institute of Asian Studies, Institute of Southeast Asian Studies.
SarDesai, D. R. (2005). Vietnam—Past and present (4th ed.). Boulder, CO: Westview Press.
Smallbone, D., & Welter, F. (2001). The role of government in SME development in transition economies. International Small Business Journal, 19(4), 63–77. doi:10.1177/0266242601194004.
Swierczek, F. W., & Thai, T. H. (2003a). Entrepreneurial orientation, uncertainty avoidance and firm performance: An analysis of Thai and Vietnamese SMEs. The International Journal of Entrepreneurship and Innovation, 4(1), 46–58.
Swierczek, F. W., & Thai, T. H. (2003b). Motivation, entrepreneurship and the performance of SMEs in Vietnam. Journal of Enterprising Culture, 11(1), 47–68. doi:10.1142/S0218495803000044.
Thai, M. T. T. (2008). The internationalization of Vietnamese small and medium-sized enterprises. University of St. Gallen, Schaan, Gutenberg AG.
Thayer, C. A. (2006). Doi moi 2? Vietnam after the Asian financial crisis. Accessed February 24, 2011, from http://asiaquarterly.com/2006/01/28/ii-22/
Turner, S., & Nguyen, P. A. (2005). Young entrepreneurs, social capital and doi moi in Hanoi, Vietnam. Urban Studies, 42(10), 1693–1710. doi:10.1080/00420980500231563.
Vo, T. N. (1990). Vietnam’s economic policy since 1975. Singapore: Institute of Southeast Asian Studies.
Vu, A. T. (1995). Economic policy reforms: An introductory review. In I. Norlund, C. L. Gates, & D. C. Vu (Eds.), Vietnam in a changing world. Richmond/Copenhagen: Curzon Press/Nordic Institute of Asian Studies.
Vuong, Q. H., & Tran, T. D. (2009). The cultural dimensions of the Vietnamese private entrepreneurship. IUP Journal of Entrepreneurship Development, 6(3/4), 54–78.
Webster, L. (1999). SMEs in Vietnam: On the road to prosperity (Private Sector Discussions No. 10). Hanoi: Mekong Project Development Facility (MPDF).
Wolff, P. (1999). Vietnam—The incomplete transformation. London: Frank Cass. In association with the German Development Institute.
World Bank. (2009). Vietnam development report 2010: Modern institutions. Joint Donor Report to the Vietnam Consultative Group Meeting, World Bank.
World Bank. (2010). Vietnam development report 2011: Natural resources management. Joint Donor Report to the Vietnam Consultative Group Meeting, World Bank.
World Bank. (2011). Vietnam development report 2012: Market economy for a middle-income Vietnam. Joint Donor Report to the Vietnam Consultative Group Meeting, World Bank.
Young, S. (2009). Entrepreneurship in Vietnam. In R. J. Pech (Ed.), Entrepreneurial courage audacity and genius (pp. 156–166). Sydney: Pearson Education.
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2016 Springer International Publishing Switzerland
About this chapter
Cite this chapter
Nguyen, Q.A., Mort, G.S. (2016). Economic Reform and Entrepreneurship in Vietnam: A Policy Perspective. In: Ateljević, J., Trivić, J. (eds) Economic Development and Entrepreneurship in Transition Economies . Springer, Cham. https://doi.org/10.1007/978-3-319-28856-7_7
Download citation
DOI: https://doi.org/10.1007/978-3-319-28856-7_7
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-319-28855-0
Online ISBN: 978-3-319-28856-7
eBook Packages: Business and ManagementBusiness and Management (R0)