Vietnam - Delivering on Its Promise : Development Report 2003

The focus of the report, combined with Vietnam's remarkable long-term growth potential, presents a favorable outlook, suggesting the effects of the East Asian crisis are over. The country is committed to socially inclusive development, and, tr...

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Bibliographic Details
Main Author: World Bank
Language:English
en_US
Published: Washington, DC 2013
Subjects:
ADB
AIR
OIL
Online Access:http://documents.worldbank.org/curated/en/2002/11/2072625/viet-nam-delivering-promise-development-report-2003
http://hdl.handle.net/10986/15331
Description
Summary:The focus of the report, combined with Vietnam's remarkable long-term growth potential, presents a favorable outlook, suggesting the effects of the East Asian crisis are over. The country is committed to socially inclusive development, and, translates a vision of transition towards a market economy, with socialist orientation into concrete public actions, emphasizing the transition should be pro-poor, noting this will require investments in the rural, and lagging regions, and a more gradual reform implementation, than often recommended. However, challenges identified include, first, further progress in economic reform - fast progress in liberalizing foreign trade, and integrating with world economy is increasingly at odds with the slowdown of state-owned enterprise reform. Second, poverty alleviation may be endangered - for in the absence of vigorous action, inequality is likely to increase. And, third, improving the quality of governance faces an economic inefficient mismatch, reflected by its legal framework, budgetary system, and administrative structures, resulting from the inherited centrally-planned economy. The report reviews the increasing inequalities, and the need to redress imbalances, indicating that - although needed - economic reforms, trade liberalization, and the transformation of state-owned enterprises, may create losers, while many of the gains of the last decade remain fragile. The Comprehensive Poverty Reduction and Growth Strategy (CPRGS) identified key decisions that need to be made, supported by strong inter-ministerial coordination for its implementation, namely rolling out to provincial, district, and commune levels in order to better align priorities, and expenditures to the national development goals, supported by external assistance.