Vietnam transforms dramatically after 40 years of Doi Moi reforms

The conference under the theme “Vietnam - 40th Anniversary of 'Doi Moi' and the Era of National Rise”, brought together Vietnam studies scholars from Australia, Japan, and Vietnam, along with representatives from the Australian Department of Foreign Affairs and Trade and the Vietnamese Embassy in Australia.

Participants included researchers from the National Economics University, Fulbright University Vietnam, VinUni, Waseda University, the Australian National University, and Griffith University.

Discussions centered on Vietnam’s nationwide transformation over the past four decades, spanning tourism, urban expansion and its impact on agricultural land conversion, foreign policy, export growth, higher education development, the role of foreign direct investment, and the expanding footprint of the private economy.

Reflecting on Vietnam's economic achievements, Dr. Raghuvir Kelkar from Griffith University noted that the reform policy successfully opened up the economy and attracted foreign direct investment.

Dr. Kelkar noted that foreign direct investment has played a crucial role in driving technological change, technology transfer, and manufacturing capabilities, while boosting productivity, creating jobs, and generating broad opportunities for the private economic sector, including joint ventures with foreign investors.

Higher education has emerged as another vital pillar supporting Vietnam's transformation. Professor Martin Hayden, a higher education specialist at Southern Cross University, emphasized that the rapid expansion of the tertiary education sector has laid a solid foundation for past and future development.

Dr. Kelkar said that foreign direct investment has played a crucial role in driving technological change, technology transfer, and manufacturing capabilities, while boosting productivity, creating jobs, and generating broad opportunities for the private sector, including joint ventures with foreign investors.

Professor Martin Hayden of Southern Cross University stressed that the rapid expansion of higher education has supplied Vietnam with a wealth of engineers, physicians, economists, and educators, exerting a profound impact on the country's overall progress. He added that universities have made great contributions over the past 40 years, and that this momentum must continue as Vietnam requires an increasingly skilled workforce to fuel its economic expansion.

The conference also discussed structural challenges facing Vietnam, including renewable energy policies, the role of technology, credit growth, and escaping the middle-income trap.

Presentations by Professor Tran Van Tho from Waseda University (Japan)  from Waseda University and Dr. Do Thanh Hai from the Diplomatic Academy of Vietnam drew particular attention.

Professor Tho highlighted Vietnam’s monumental structural shift from a predominantly agrarian economy toward industrialization and services, alongside a successful transition from exporting raw materials to manufacturing processed goods. He also outlined key policy lessons for sustained future growth. Meanwhile, Dr. Hai’s presentation examined administrative reforms implemented in Vietnam between 2024 and 2026.

Speaking at the event, Deputy Vietnamese Ambassador to Australia Nghiem Xuan Hoa noted that Australia has consistently stood alongside Vietnam throughout its reform era.

He added that bilateral relations have grown broader and deeper following their elevation to a Comprehensive Strategic Partnership, further reinforced by the recent official visit to Australia by Party General Secretary and State President To Lam.

Hoa also praised the ongoing academic cooperation between research institutions in both nations, pointing out that forums like the Vietnam Update conference strengthen mutual understanding and generate innovative policy ideas to advance bilateral ties and national development.

He noted that bilateral relations have deepened following their elevation to a Comprehensive Strategic Partnership, further reinforced by the recent official visit to Australia by General Secretary and State President To Lam.

Hoa hailed the ongoing academic cooperatin between research institutions in both nations, noting that forums like the Vietnam Update conference foster mutual understanding and generate innovative policy ideas to boost bilateral ties and national development.

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