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The socialist-oriented market economy is a cornerstone of democracy
The socialist-oriented market economy is a cornerstone of democracy
8/4/17
Up to now, there are 66 countries which recognized
Vietnam as a market economy status. Among these countries are big economies
such as Germany, Japan, China, Australia, South Korea, India, Israel,
Singapore, etc and upcoming recognitions of the U.S. and European countries.
This proves that international community has admitted Vietnam’s achievements
not only on economy but also on democracy and social developments. That affirms
the important role of the socialist-oriented market economy in protecting and
promoting global values of human rights and democracy.
The Vietnamese Party, State
and people have persistently built and developed the socialist-oriented market
economy over the past years. However, in reality, especially in the difficult
periods of the national economy, there has been concern about the chosen path.
Thus, continue to reach consensus and clarify awareness on the
socialist-oriented market economy are necessary.
The socialist-oriented market economy is a product of
the Đổi mới economic
reforms (Renewal), which led to the replacement of the centrally-planned economy with a market-based mixed economy based on state-owned industry. These
reforms were undertaken to allow Vietnam to integrate with the global market
economy.
Let start with 30 years ago. At that point in time, we
launched what is called “Comprehensive Renewal,” with a focus on economic
renewal. Before the launch of renewal in 1986, the country was in really bad
shape. Vietnam just came out of a succession of wars. The country was totally
devastated, not just economically, but also socially, the whole social
infrastructure. Internationally, we were isolated. Domestically, we were
destroyed. At that time, the country’s leadership – the party leadership of the
Sixth National Congress – decided to launch a renewal of the whole country.
First of all is a economic renewal. When launching renewal economically, the
country allowed gradually for the private sector – first domestic, and
increasingly afterwards the foreign private sector – to get involved in the
economic restoration and development of the country. Granting permission for
the private sector to take part in the economic development of the country was
a very important decision.
That is part of what you call market economy – private
sector participation in the economy. The market economy is the product of the
history of human social development and the achievement of human civilization.
Karl Max affirmed that market economy was an essential stage of historical
development which any economy has to pass through to reach the stage of higher
development and socialism and communism are the stages of development higher
than capitalism in the process of human development. Socialism and communism
will only arrive when production forces highly develop. To reach this level the
market economy must maximally grow and become popular in socio-economic life;
only by developing the market economy can premise and conditions for achieving
socialism be created.
Noticeably, there are several market economy models in
the world, namely ‘the social market economy” in the Federal Republic of
Germany, the “allied market economy” in Japan, the “welfare state market
economy” in the Northern European countries and “the socialist market economy”
in China. Reality shows that the market economy can be built in countries of
different socio-economic institutions with specific module relevant to
conditions and concrete objectives of each country. Nevertheless, these models
have been built and operated according to fundamental rules of modern market
economy and international integration with typical characteristics of the
market economy (recognition of private ownership, freedom of business and competitiveness,
promotion of effectiveness of the market and market mechanism and the State
regulates macro-economy).
The socialist orientation refers to the Communist
Party’s leadership. So, the state sector has remained the leading sector of the
economy to avoid any deviation economically, ideologically, or politically from
the socialist orientation. That’s why it called socialist orientation. But by
socialist orientation, the country is not yet a socialist country. It’s only
the future. It’s only the orientation of the economy. So that’s why now it’s
just called socialist-oriented economy.
The socialist-oriented market economy in Vietnam is a
type of organization of the economy based on not only the principles and rules
of a market economy but also the principles and charateristics of socialism
shown in three aspects: ownership, organization of management and distribution.
It is an organized market economy led by the Party and administered by the
socialist state, which is socially oriented to minimize defects of the market
in order to best serve the interests of the majority of people and the
sustainable development of the country.
Obviously, in Vietnam’s development policy, the
socialist orientation concept can be realistic only when it “contains” sustainable
development for social progress, free and comprehensive development of each
individual. Thus, the market economy and socialist orientation do not
contradict but are unified. The approach to the modern market economy and
international integration of Vietnam’s modern market economy model should
embrace standards and contents of the modern market economy and ensure
distinctive and unique socialist-oriented elements of Vietnam.
New awareness on the socialist-oriented market
economy is identified in the documents of the 12th Party Congress. It is “the
economy operates fully and synchronously following the law of the market
economy while ensuring socialist orientation appropriate to each stage of
national development. It is the modern market economy in international
integration under the management of the rule of law socialist State led by the
Communist Party of Vietnam to achieve the objectives of “rich people, strong
country, democracy, equity and civilization”./.
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All comments [ 10 ]
The economic reforms aimed to restructure the Vietnamese economy away from Soviet-type central planning and towards a mixed economy intended to be a transitional phase in the development of a socialist economy.
The socialist-oriented market economy is a multi-sectoral commodity economy regulated by the market, consisting of a mixture of private, collective and state ownership of the means of production. However, the state sector and collectively-owned enterprises form the backbone of the economy.
It's a kind of Vietnam-style market economy!
Building on the understanding of development rule of the time and generalization, the Vietnamese Party learnt lessons of developing the market economy of the world.
This line demonstrates the Party thought and perception on conformity of production relations with the level of production force in the transitional period to socialism in Vietnam.
Socialist Party, soicalist economy and towards socialist democracy! Viva Vietnam!
It is possible to say that the most important content in market economy socialist orientation in Vietnam is sustainable development.
The EU has granted Vietnam the "Ad hoc Market Economy Regime" for 2005 in recognition of the country's major progress in economic development and global integration, soon EU will recognize Vietnam's market economy status.
Vietnam can now completely understand and apply objective rules to the economy in order to build lasting institutions and ensure fast and sustainable development in the interests of the people and the nation as a whole.
Each independent nation has its rights to choose its political system, economic mechanism and democracy.
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