Transformation
•mid-1980s, it became painfully clear that Vietnam’s system of collective agriculture was not working.
•In 1987, after several years of slow growth, food production actually declined by 4.4 percent and famine struck parts of the country. Making matters worse, inflation had risen from 92 percent in 1985 to 775 percent in 1986, making food more and more expensive for the country’s population of 60 million.
•At the Sixth National Party Congress in December 1986, the Vietnamese Communist Party enacted a series of reforms that would ultimately transform Vietnam from a centrally planned economy to a market-oriented one
•The reform process, known as Doi Moi, did not really take hold until 1988, but once the collectives were dismantled, land-use rights were assigned to farmers, agricultural markets were liberalized, and wider economic reforms were implemented.
•The country’s gross domestic product (GDP) grew at an annual rate of 7.6 percent, rapid increase in agricultural growth, which grew 4.9 percent annually between 1996 and 2000, when the growth rate reached an all-time high
The reforms unleashed a new entrepreneurial spirit in Vietnam, both in agriculture and in other sectors.
•Farmers intensified rice production, diversified into new crops such as coffee and cashews, and improved the quality of the food they produced.
•By stimulating agricultural and overall economic growth, the reforms helped reduce rural poverty, hunger, and malnutrition.
•In just five years—from 1993 to 1998—the share of people living in poverty fell by 21 percent.
•Among children younger than five, the rate of stunting—meaning a low height for age, a symptom of poor nutrition— declined from 53 to 33 percent during the same period.
Transformation
•mid-1980s, it became painfully clear that Vietnam’s system of collective agriculture was not working.
•In 1987, after several years of slow growth, food production actually declined by 4.4 percent and famine struck parts of the country. Making matters worse, inflation had risen from 92 percent in 1985 to 775 percent in 1986, making food more and more expensive for the country’s population of 60 million.
•At the Sixth National Party Congress in December 1986, the Vietnamese Communist Party enacted a series of reforms that would ultimately transform Vietnam from a centrally planned economy to a market-oriented one
•The reform process, known as Doi Moi, did not really take hold until 1988, but once the collectives were dismantled, land-use rights were assigned to farmers, agricultural markets were liberalized, and wider economic reforms were implemented.
•The country’s gross domestic product (GDP) grew at an annual rate of 7.6 percent, rapid increase in agricultural growth, which grew 4.9 percent annually between 1996 and 2000, when the growth rate reached an all-time high
The reforms unleashed a new entrepreneurial spirit in Vietnam, both in agriculture and in other sectors.
•Farmers intensified rice production, diversified into new crops such as coffee and cashews, and improved the quality of the food they produced.
•By stimulating agricultural and overall economic growth, the reforms helped reduce rural poverty, hunger, and malnutrition.
•In just five years—from 1993 to 1998—the share of people living in poverty fell by 21 percent.
•Among children younger than five, the rate of stunting—meaning a low height for age, a symptom of poor nutrition— declined from 53 to 33 percent during the same period.
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