Doi Moi: Vietnam's economic miracle

Apr 28, 2025

Discover how Vietnam transformed from one of the world's poorest nations into a booming economy through the Doi Moi reforms. Listen to personal accounts revealing the trauma of the Vietnam War and the remarkable shift from strict socialism to market-oriented success. Explore astonishing changes as farmers went from struggling to thriving, turning Vietnam from a food importer into a leading rice exporter. Witness the resilience of the Vietnamese people as they embrace new opportunities and build a brighter future after years of hardship.

Ask episode

AI Snips

Chapters

Transcript

Episode notes

ANECDOTE

Phạm Chi Lan's War Childhood

Phạm Chi Lan lived through constant bombing during the Vietnam War, even giving birth in an underground center in Hanoi.
Her early life was deeply marked by war and its hardships on her family and country.

INSIGHT

Economic Collapse Before Reform

Vietnam's economy collapsed due to war damage, sanctions, and strict central planning.
The planned economy's harsh restrictions made survival unimaginable for the population.

ANECDOTE

Farmers' Resourcefulness Amid Restrictions

Farmers were only allowed to keep 5% of their produce, yet many survived by being resourceful.
This 5% land was crucial and described by farmers as "wonderful" for sustaining their lives.

Get the Snipd Podcast app to discover more snips from this episode

Get the app

In the late 1970s, Vietnam was one of the poorest countries in the world. Its economy had been destroyed by war with the USA, a trade embargo, and the communist government's restriction of private enterprise. So, at the Vietnam Communist Party’s 6th National Congress in December 1986, radical economic reforms were introduced, known as Doi Moi, meaning ‘renovation’. The reforms transformed the country from a centrally planned economy to a market-oriented one, unleashing huge economic growth and improving living standards. Ben Henderson speaks to Phạm Chi Lan, an economist who worked at Vietnam’s Chamber of Commerce and Industry through the period of reform.

Eye-witness accounts brought to life by archive. Witness History is for those fascinated by the past. We take you to the events that have shaped our world through the eyes of the people who were there. For nine minutes every day, we take you back in time and all over the world, to examine wars, coups, scientific discoveries, cultural moments and much more.

Recent episodes explore everything from football in Brazil, the history of the ‘Indian Titanic’ and the invention of air fryers, to Public Enemy’s Fight The Power, subway art and the political crisis in Georgia. We look at the lives of some of the most famous leaders, artists, scientists and personalities in history, including: visionary architect Antoni Gaudi and the design of the Sagrada Familia; Michael Jordan and his bespoke Nike trainers; Princess Diana at the Taj Mahal; and Görel Hanser, manager of legendary Swedish pop band Abba on the influence they’ve had on the music industry. You can learn all about fascinating and surprising stories, such as the time an Iraqi journalist hurled his shoes at the President of the United States in protest of America’s occupation of Iraq; the creation of the Hollywood commercial that changed advertising forever; and the ascent of the first Aboriginal MP.

(Photo: Street vendor in Hanoi, 1993. Credit: Steve Raymer/Corbis via Getty Images)