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'So Much To Do'; Hanoi failed in its first attempt at market reform. Now, a younger leadership is succeeding.(Brief Article)(Cover Story)
Byline: Joe Cochrane
Vietnam flunked its first effort at economic modernization, in the early 1990s. Foreign firms rushed in to sell goods to the country's large, young population, but were stymied by the poor infrastructure and bureaucratic corruption, as well as the communist government's failure to fully embrace free-market reforms. Many companies were left broke and jaded.
But a new generation of communist leaders--led by pro-reform Prime Minister Phan Van Khai, Deputy Prime Minister Vu Khoan and Truong Tan Sang, the youthful 51-year-old chairman of the party's economic commission--is steadily injecting free-market principles into the economy. They've also been improving the country's legal and ...
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Source: HighBeam Research, 'So Much To Do'; Hanoi failed in its first attempt at market reform....