Reforming Economic Institutions to Build a Foundation for Sustainable Development in Contemporary Vietnam

Abstract

In the contemporary development context, sustainable development is no longer viewed merely as a policy goal of a guiding nature; rather, it has become an intrinsic requirement of the organization and functioning of the national economy. In Vietnam, alongside the significant achievements of the renovation process, development practice has also generated an imperative to further reform economic institutions in order to address bottlenecks in resource allocation, improve the quality of growth, ensure social progress, and strengthen adaptive capacity in the face of environmental, technological, and international integration challenges. Against this backdrop, the article focuses on clarifying the role of economic institutions in sustainable development, while also analyzing the historical context that has given rise to the need for economic institutional reform in contemporary Vietnam. On that basis, it assesses the current state of economic institutional reform within Vietnam’s sustainable development strategy and proposes several solutions for further improving economic institutions in a coherent, modern, and effective manner, consistent with the country’s objective of achieving rapid and sustainable development.