Vietnam’s Hidden Development Lesson: Markets Came Before Reform
Trang Jane Pham|Farah Ajlouni
Vietnam’s current success has a deeper explanation most might miss.

Trang Jane Pham|Farah Ajlouni
Vietnam’s current success has a deeper explanation most might miss.
Ho Quoc Tuan
Vietnam sees double-digit growth in 2026 and beyond as a political imperative. To achieve this, the government needs to adopt an economic model that aggressively leverages domestic stimulus while managing inflation and asset prices.
Hoang Thi Ha|Pham Thi Phuong Thao
Despite a history of distrust, Vietnam is increasingly drawing lessons from China’s experience of a strong state driving economic transformation.
Tuan Ho
Vietnam’s new prime minister needs to disburse idle public funds. His previous role helming the Communist Party’s personnel system should help him galvanise officials who prioritise an overly cautious approach over rapid progress.
Le Hong Hiep
Vietnam has revived Build-Transfer projects five years after banishing them for corruption risks. The efficiency and development reasons are clear — as are the perils that demand stronger institutions.
Le Hong Hiep
To Lam has become Vietnam’s supreme dominant leader. This has both positive and negative implications.
Nicholas Chapman
Vietnam’s foreign policy is evolving from a position based on integration and multilateralism to one based on strategic autonomy.
Dien Nguyen An Luong
Vietnam’s digital citizen scoring proposal though based on incentives rather than punishment is a form of social engineering that paves the way for control by the security apparatus.
Tuan Ho
Vietnam wants to stabilise the exchange rate amid devaluation pressure, while keeping interest rates low for economic growth. The country should be clear and prudent in balancing growth and macro stability.
Hoang Thi Ha|Pham Thi Phuong Thao
Since assuming power in August 2024, General Secretary of the Communist Party of Vietnam To Lam has pursued bold reforms with urgency. Economic diplomacy has been a central focus, aimed at mobilising international resources for economic restructuring and technological upgrading. He has also engaged Washington, traditional partners China and Russia, and other major powers with equal vigour, pursuing pragmatic multi-alignment to advance national interests.