Handbook of Research on Asian Entrepreneurship

Handbook of Research on Asian Entrepreneurship

Research Handbooks in Business and Management series

Edited by Léo-Paul Dana, Mary Han, Vanessa Ratten and Isabell M. Welpe

Asia is highly regarded as one of the fastest growing regions in the world, and this unique Handbook focuses on the internationalization process and entrepreneurial dynamics of small business within the continent. Using a clear and consistent style, the Handbook examines more than 40 countries in Asia and allows researchers to compare the environment for entrepreneurship, the internationalization of entrepreneurs and the state of small business in different Asian countries. The chapters are authored by well-known scholars who provide insight into how government policies have affected the internationalization of small firms in Asia.

Chapter 44: Vietnam

Mai Thi Thanh Thai and Narendra M. Agrawal

Subjects: asian studies, asian business, business and management, asia business, entrepreneurship, international business


Mai Thi Thanh Thai and Narendra M. Agrawal 1 Introduction to Vietnam The entire national economy of Vietnam had a long period of inertia when it implemented a centrally planned economic system modeled after that of the Communist bloc. Its annual growth rate stopped at 0.4 percent while the population grew more than 2.3 percent per year, causing severe shortages in essential consumer goods and a trade deficit, with imports being four to five times greater than exports and hyperinflation which peaked at 774.7 percent in 1986 (CGVSF, 2006). This compelled Vietnam to start doi moi – literally means renovation – in 1986. Without overthrowing the socialist establishment, the doi moi involved ushering in entrepreneurship as a complement to state enterprises, rather than as a replacement of Marxist ideals (Dana, 1994). By the early 1990s, remarkable policy improvements had been made and it was only then that a considerable amount of financial assistance began to flow into Vietnam in a sustained way, although Vietnam no longer enjoyed economic aid from the Soviet bloc, which collapsed in 1991. Since then Vietnam has achieved striking economic growth. Its gross domestic product (GDP) real growth rate peaked at 9.5 percent in 1995 and has consistently been among the highest in the world over recent years (Table 44.1). Vietnam has also taken active steps to integrate into the world economy by normalizing its diplomatic relationship with the United States in 1994, which led to a bilateral trade agreement, joining the Association of Southeast Asian Nations in...

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information