The main factors that hinder the renewal process in Vietnam

The article analyses three main factors that restrained process of the renovation in Vietnam over the past 30 years. First of them is the remnants of the past in the governance of the country. The rise of the country was carried out extensively, relying on the exploitation of natural resources, intensification of use of labour force, overwhelming of foreign direct investment (FDI) while basing on weak productivity and low efficiency of investment. Secondly, it is extraordinary dependence on China both in theory and ideology, and especially in the economy. Third, the implementation of all projects of socio-economic development was constrained by the need to protect sovereignty, security of whole country and especially of islands in the South China sea.

renovation process, main obstacles, governance of the country, security of the islands, Vietnam, China