The Doi Moi Plan

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• published: 28 Nov 2014
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The long war in Vietnam completely ravaged the country; the physical as well as the economic infrastructure, was in ruins. And there was no respite for the nation, even after the war. Sanction after sanction were slapped on Vietnam, which greatly hindered the rebuilding efforts. And the country also had to face many natural disasters, so basically poor Vietnam couldn’t catch a break. That was until 1986, when the Vietnamese government took control and launched their “Doi Moi” plan. The Plan Doi Moi literally means renovation. The government of Vietnam launched this plan to renovate their country and bring it to a better standing in the international market. The main goal of this plan was to create a ‘social oriented market economy’ for Vietnam. The Doi Moi plan outlined everything that had to do with the economical and physical infrastructure of the country. The trade targets, domestic inflation, rebuilding efforts and everything else needed to bring the country back from the economic black hole, was included in the plan. The Plan’s Effectiveness We all hear about government plans to achieve this and that in their countries all the time; most of the time, the results aren’t ideal. But, the Vietnamese government was completely dedicated to the Doi Moi plan, and within a few years, they started seeing results. The trade sanctions were gradually removed, mainly because of the efforts outlined in the Doi Moi plan, and foreign investors started seeing Vietnam’s potential. By 1990, many new businesses were opened as a direct result of foreign investments. The lack of sanctions allowed for increased trade; as a result Vietnam became one of the largest rice exporters in the world. The Impact The goal of the Doi Moi plan was to stabilize Vietnam’s economy, security, sovereignty and currency, and it accomplished all of these things. The most amazing part about the Doi Moi plan was that, all the subsequent governments adhered to this plan with the same passion and brought it to succession. Now, Vietnam has the fastest growing economy in Asia and the Vietnamese Dong has stabilized in the foreign market. The next step would be revaluing the Dong; and the NDB and BRICS will play instrumental roles in this particular venture. So, right now is an excellent time to make an investment in the Dong, and you can purchase all denominations of the Dong from Buy VND.