Wednesday, 29/1/2020
“The nature of the socialist-oriented market economy in the Draft amendments to the 1992 Constitution of Viet Nam”
27/5/2013 21:48' Send Print

Perception on the socialist-oriented market economy has been gradually supplemented and improved through Party Congresses. The Party’s orientations and guidelines on building and developing the socialist-oriented market economy in the 1992 Constitution is “The State develops the socialist-oriented multi-sector consumer economy with market mechanism under the State management. Economic structure consists of different sectors with diversified forms of production and businesses based on people’s ownership, collective ownership and private ownership of which the people’s ownership and collective ownership are the cornerstone.”

The draft amendments to the 1992 Constitution continues to confirm the essential path to build Viet Nam’s socialist-oriented market economy is “economic sectors are important components of the national economy which together develop, cooperate equally and compete according to laws.” (Article 54). In order to manifest consistency and persistency to the path to socialism in all orientations and guidelines of the Party, the draft amendments to the 1992 Constitution should continue to confirm the leading roles of the state economic sector in the socialist-oriented market economy, such as the roles of organization, management and regulation to create an equal business environment for economic sectors; and the objectives of socialist-oriented market of “prosperous people, strong country, democracy, equity and civilization”./.

Le Vu NamMA, Dean of Law Department, University of Economic Law, Viet Nam National University-Ho Chi Minh city