Vietnam Country Report: To Be Rich is a Patriotic Duty!
From Rice Fields to Reaganomics — Vietnam’s Quiet Capitalist Revolution
A Quiet Revolution, Now Roaring
Once upon a time in Vietnam, eating a chicken dinner with the lights on could get you reported to the authorities.
Today, building a company that feeds thousands —or a tech startup that scales across ASEAN — gets you hailed as a national hero.
This isn’t just economic reform. It’s a seismic cultural reset.
With the May 4, 2025 passage of Resolution 68, the Communist Party of Vietnam is no longer whispering its pro-market intentions. It’s shouting them:
Entrepreneurs are now “soldiers on the economic front.”
Building wealth is no longer suspicious — it’s patriotic.
Just like China’s historic pivot in 1978 — “To get rich is glorious” — Vietnam is unleashing capitalism within a socialist skin. But what makes this moment even more thrilling? It carries the unmistakable flavor of Reaganomics.
A Reaganesque Pivot in Southeast Asia?
Reaganomics was more than just policy. It was a philosophy:
Lower taxes to free enterprise.
Deregulation to unshackle innovation.
Entrepreneurship as a national ideal.
Wealth creation as a moral good.
Vietnam is now channeling these same ideas — but with a socialist twist:
Vietnam’s version is Reaganomics in red. And it’s working.
Resolution 68: Vietnam’s Economic Declaration of Intent
This groundbreaking policy is Vietnam’s clearest endorsement of wealth creation to date, structured around five key pillars:
1. Entrepreneurs = Economic Patriots
For the first time in official Party language, the private sector is recognized as a “primary engine of national growth.”
2. Deregulation & Bureaucratic Overhaul
Vietnam pledges to eliminate at least 30% of business-related red tape, simplifying licensing, land access, and compliance.
3. SMEs and Startups = Growth Engines
SMEs (Small and Medium Enterprises) currently account for 96% of registered enterprises. Resolution 68 promises preferential credit access, infrastructure support, and digital transformation aid.
4. Infrastructure Investment = National Mission
Vietnam is doubling down on connectivity:
North-South high-speed rail
Clean energy corridors
Ports, logistics, and (SEZ) Special Economic Zone upgrades
5. Cultural Rebranding of Wealth
From the top levels of government: “Citizens should pursue prosperity — not just for themselves, but for Vietnam.”
A Nation on the Move: Growth, Forecasts & Firepower
Vietnam is already one of the most dynamic economies in Asia. Now it’s supercharging its momentum:
Government Target (2025): 8%+ GDP Growth
World Bank (2025 forecast): 5.8%
HSBC, Standard Chartered: 6.5%–6.8%
FDI inflows are surging — up nearly 8% in Q1 2025 — thanks to Vietnam’s appeal as a manufacturing hub, China+1 play, and logistics gateway.
The Vietnamese middle class is on track to double by 2030, opening the floodgates to domestic consumption and service-led growth.
Why This Feels Like a Second Đổi Mới
(With American Swagger and Chinese Lessons)
Like Đổi Mới (Renovation) in 1986, this is ideological judo: using capitalist tools to strengthen socialism.
Like Deng’s China, Vietnam is saying: Wealth is no longer shameful. It is strategic.
Like Reagan’s America, Vietnam is declaring: The private citizen — unshackled — is the greatest engine of national strength.
Opportunities: For Investors, Builders, and Returnees
Vietnam is rolling out the welcome mat — for capital, talent, and ambition.
For Investors:
A new class of world-ready Vietnamese companies is emerging.
Public-private partnerships in infrastructure
Strategic investments in logistics, green energy, digital health, edtech
Vietnam’s listed companies and ETFs are primed for inflows
For Entrepreneurs:
The next Southeast Asian unicorn might be born in Ho Chi Minh City.
Government-backed accelerators and grants
Untapped B2B SaaS, fintech, and AI/ML sectors
Regional launchpad to ASEAN
For Overseas Vietnamese (Việt Kiều):
Home has never been more ready — or more receptive — to your return.
Favorable repatriation policies
A cultural and economic environment more welcoming than ever
A patriotic purpose: bring back knowledge, capital, and community
Watchouts & Headwinds
No pivot is risk-free. Key concerns include:
Governance gaps: Corruption and legal inconsistency persist
Inequality risk: Rising wealth gaps could stoke rural discontent
Control vs. creativity: How far will the Party let entrepreneurial freedom roam?
But the direction is unmistakable, and the momentum is real.
Conclusion: Capitalism with Vietnamese Characteristics
Vietnam is crafting a unique playbook:
China’s pragmatism.
America’s entrepreneurial zeal.
Its own fierce national spirit.
The new motto isn’t just a slogan — it’s a challenge:
“To be rich is a patriotic duty.”
Vietnam is betting that in the 21st century, capitalism — when guided, inclusive, and ambitious — can serve the collective good. It’s a bet that investors, entrepreneurs, and reformers around the world should be watching very, very closely.