Growth with equity
The Vietnamese economy is experiencing a period of profound change. Two decades of rapid economic growth since the adoption of the doi moi, or renovation policy, have transformed production and trade. Economic growth has contributed to an impressive reduction in recorded poverty and steady progress towards achievement of the Millennium Development Goals (MDGs). The transition to the market is complete and Viet Nam has joined the ranks of the high performing East Asian economies.
UNDP shares the optimism of the people and Government of Viet Nam about future prospects and the country’s tremendous economic potential. But maintaining the current rate of economic growth and improvements in living standards will not be easy. Viet Nam is now engaged in intensive and simultaneous processes of economic, social and political change. Managing these changes will require new approaches and revitalized institutions. Viet Nam must negotiate this vital period in its development in an increasingly integrated and economically competitive world. Policymakers will not be able to rely on existing models, but will have to devise new solutions to the problems of 21st century development.
While economic growth and integration will create new opportunities for wealth and job creation, there will be losers as well. The greatest challenge of the coming years will be to find ways to take advantage of these opportunities while protecting the poorest and most vulnerable people in society against risks to their living standards and their access to basic social services. Conditions faced by domestic and international migrants are of particular concern as economic and social change is increasingly associated with spatial mobility. Ensuring that women and girls have equal access to educational, economic and political opportunities is indispensable to the creation of a just society and is also vital to household welfare and efficient use of the country's human resources. Minimizing the negative impacts of industrialization, urbanization and agricultural intensification on the natural environment will require sound policies, improved governance and greater public involvement in decision-making.
Supporting socio-economic development
The Country Economist Unit (CEU) was established in 2004 as a focal point for economic issues at UNDP Viet Nam. The main function of CEU is to produce applied policy research on major issues relating to Viet Nam's economic development. CEU supports the Viet Nam Academy of Social Sciences (VASS) in the production of the National Human Development Report (NDHR) and the 20 Year Review of Doi Moi; assists the Ministry of Finance in their efforts to improve the quality of internal policy analysis; and, the Ministry of Planning and Investment with reporting and analysis of ODA related information through support to the Development Assistance Database. CEU also produces policy discussion papers with international and national partners; organizes policy workshops on selected economic issues; and supports other UN agencies and UNDP Programme Units with economic analysis and policy advice relating to projects and programmes.