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The 1992 Constitution and development of multi-sector economy
9/5/2012 15:52' Send Print

The 1992 Constitution (revised and supplemented in 2001) confirmed that the economic model of Viet Nam was the socialist-oriented market economy and provided clarification in several aspects. The constitution identified three fundamental forms of ownership: people, collective and private ownership in different production and business organizations. The term “state-owned economy” was replaced by “the economy with the state playing the leading role, together with the collective economy formed a firm foundation for the national economy. Differences in relations with the state organizations and private-owned businesses should be reduced to limit state control in keeping with state laws.

However, the 1992 Constitution also demonstrated constraints in development of multi-sector economy. Evidences in economic development in recent years showed that state-owned businesses have fallen short of people’s expectation in transparency and effectiveness. Thus, according to the author, consideration should be given to include stipulations on rights of citizens and their organizations to supervise the use of public asset, on expansion of rights of the National Assembly to access to information and accountability of state businesses. The State should invest in areas of public services and commodities that ensure human fundamental rights.

For private economy, it is necessary to emphasize that if all forms of ownership, businesses and production organisations are for the interest of laborers and the country, they do not run counter to socialism.

Special characteristics of economic sectors, particularly relations between economic sectors in the Platform on national construction during the period of transition to socialism (supplemented and developed in 2011) should be concretely clarified in the new constitution./.


Associated Professor Tran Thi Minh Chau. PhD.Vice Director, Economic Institute, Ho Chi Minh National Academy of Politics and Public Administration