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  4. 40 Years of Đổi Mới: Reflecting on Viet Nam's Economic Transformation

40 Years of Đổi Mới: Reflecting on Viet Nam's Economic Transformation

On 14 May 2026, the Hanns Seidel Foundation (HSF) Vietnam celebrated its 15th anniversary by bringing together policymakers, academics, diplomats and long-standing partners for the international conference "40 Years of Đổi Mới – The Rule of Law and the Economy in Vietnam", co-organised with the University of Social Sciences and Humanities (USSH), Vietnam National University Hanoi. The conference served as the centrepiece of the anniversary celebrations and provided a platform to reflect on Vietnam's remarkable reform journey and its future development.

 

Over the past four decades, Đổi Mới has transformed Vietnam from a centrally planned economy into one of Southeast Asia's most dynamic emerging economies. As the country enters a new phase of development with the ambition of becoming a high-income economy by 2045, questions surrounding economic governance, institutional reform and the rule of law are becoming increasingly important. Against this background, the conference provided a timely platform to reflect on Vietnam's reform journey, exchange international perspectives and discuss future policy priorities.

Throughout the conference, Vietnamese and German experts examined the relationship between economic development, legal institutions and sustainable growth. Discussions focused on the evolution of Vietnam's socialist-oriented market economy, the role of the rule of law in supporting economic transformation, and the importance of international cooperation in addressing future economic and social challenges.

A highlight of the conference was the keynote address by Dr. Axel Neubert, Resident Representative of HSF Vietnam, who compared Vietnam's socialist-oriented market economy with Germany's social market economy. Drawing on both countries' different historical experiences, the presentation explored how economic efficiency, social inclusion and effective institutions can contribute to sustainable development.

 

 

The conference reflected HSF Vietnam's long-standing commitment to promote policy dialogue, academic exchange and international cooperation. By bringing together decision-makers, researchers and practitioners, the Foundation continues to support evidence-based discussions on governance, economic reform and sustainable development, while contributing to the further strengthening of the partnership between Germany and Vietnam.