As the Socialist Republic of Vietnam gears up for massive celebrations marking the 80th anniversary of the August Revolution and the September 2nd proclamation of the then Democratic Republic of Vietnam by President Ho Chi Minh, a Chinese Marxist scholar has said that the country exemplifies the successful fusion of socialism and a market economy.
Speaking to Vietnam News Agency (VNA) correspondents in Beijing, Professor Dr. Pan Jin’e from the Research Institute of Marxism under the Chinese Academy of Social Sciences, noted that since embarking on reforms in 1986, Vietnam has gradually built a “socialist-oriented market economy,” shifting from a planned to an open economy. As a result:
- In 2024, GDP reached 476.3 billion USD and per capita GDP exceeded 4,700 USD.
- The World Bank recognises Vietnam as a “model for poverty reduction among developing countries.”
- With renewable energy accounting for 8% of the energy mix by 2024, the country’s target of reaching carbon neutrality by 2050 is drawing global attention.
The country has established the theory of a socialist rule-of-law state “of the people, by the people, and for the people,” blending Marxism with local realities to balance political stability and social vitality, a breakthrough in Marxist theory on proletarian state power.
Additionally, Vietnam pursues “development for the people,” making strides in education, healthcare, employment, and social security. Education is free from preschool to public high school; primary school enrolment reached 99.7% in 2024, with a target of 35% university enrolment by 2030. Healthcare insurance coverage reached 93.35% in 2024, nearing universal health coverage, with life expectancy rising from 40 years in 1945 to 75.8 years today.
The interview notes: “These successes stem from decades of struggle against colonialism and invasion. Vietnam’s history is a heroic example for developing countries overcoming backwardness through socialist leadership, the regime’s strengths, and the unity and resilience of its people, supported by international solidarity and proletarian internationalism.”
Regarding Vietnam’s development of and contributions to global socialism, the Chinese scholar described the country’s accomplishments as offering a “Vietnamese solution” to the world socialist movement. Vietnam presents a new theoretical model and developmental path for socialism globally, serving as a reference for developing countries.
Pan concluded that Vietnam’s achievements in building socialism confirm Marx’s view on diverse development paths. She emphasised that Vietnam’s experience revitalises the global socialist movement and opens “another possibility” for developing countries to explore the path of modernisation. “Socialism is not an abstract doctrine, but a creative practice rooted in the country and responsive to the era’s needs,” making this Vietnam’s most valuable contribution to the global socialist movement.
The following article was originally published by Nhân Dân.
Viet Nam, a country that has steadfastly pursued socialism, has gained remarkable achievements in a wide scope of sectors that includes the economy, politics, society, and culture, according to a Chinese expert on Vietnamese affairs.
Economically, Viet Nam exemplifies the successful fusion of socialism and a market economy, Prof., Dr. Pan Jin’e from the Research Institute of Marxism under the Chinese Academy of Social Sciences, said in an interview with Viet Nam News Agency correspondents in Beijing.
Continue reading Chinese scholar says Vietnamese socialism is a new theoretical model for global socialism and a reference for developing countries