A Dream Deferred? The ‘Equitization’ of Vietnam’s State-Owned Enterprises


Vietnam’s progress toward a more liberal, market-friendly economy has proceeded in fits and starts.

By James GuildFebruary 11, 2021   

A Dream Deferred? The ‘Equitization’ of Vietnam’s State-Owned Enterprises
In this April 29, 2015, file photo, a snack and fruit vendor waits for customers near the advertisement board of a shopping mall and apartment building in Ho Chi Minh City, Vietnam.Credit: AP Photo/Dita Alangkara, File

Vietnam has weathered the COVID-19 crisis better than most nations. The spread of the virus has been managed well, and despite turmoil in global markets the economy grew by around 3 percent in 2020, while running a $19 billion trade surplus. Investment inflows have likewise remained strong, leaving the country well-positioned for a post-pandemic recovery. How is it that Vietnam has fared so well?

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Learning from Power Sector Reform Experiences: The Case of Vietnam

Policy Research Working Paper
1. State-centric institutions can rapidly and successfully develop a power sector with concerted efforts, notwithstanding the opportunity for well-regulated competition and private sector participation to improve efficiency and financial viability.
2. Gradual reform steps offer the opportunity to build consensus each step of the way and learn by doing. This can lead to different outcomes than expected, as policy drivers evolve.
3. The sequence of reforms matters. Introducing market mechanisms ahead of other vital elements may limit their effectiveness and make subsequent reform steps more difficult