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Vietnam at a Crossroads

Author

Listed:
  • Claire H. Hollweg
  • Tanya Smith
  • Daria Taglioni

Abstract

Vietnam is at a crossroads. It can grow as an export platform for GVCs, specializing in low value-added assembly functions with industrialization occurring in enclaves with little connection to the broader economy or society; or it can leverage the current wave of growth, enabled and accelerated by its successful participation in GVCs, to diversify and move up the chain into higher value-added functions. Success will require Vietnam’s policymakers to view the processes of development differently, and to take new realities of the global economy more fully into account. The purpose of this volume is to support Vietnam’s path to economic prosperity by identifying policies and targeted interventions that will drive development through leveraging GVC participation that take major shifts in trade policy and rapid technological advances in ICT into account. The volume is based on a compilation of studies completed by World Bank staff and external consultants in 2015 supporting the “Enabling Economic Modernization and Private Sector Development” chapter of the Vietnam 2035 report. The objective of these studies was to diagnose Vietnam’s current participation in GVCs, visualize where Vietnam could be by 2035 in the context of a changing global environment, and identify the policy actions needed to get there. The studies also supported topics related more broadly to export competitiveness, including firm-level productivity, services, and connectivity. It then identifies targeted strategies and policy interventions that will help overcome challenges, minimize risks, and maximize opportunities. Readers will gain a strong understanding of Vietnam’s current and potential engagement with GVCs—and will learn about strategic GVC policy tools that can help developing countries achieve economic prosperity in the context of compressed development.

Suggested Citation

  • Claire H. Hollweg & Tanya Smith & Daria Taglioni, 2017. "Vietnam at a Crossroads," World Bank Publications - Books, The World Bank Group, number 26215, December.
    • Handle: RePEc:wbk:wbpubs:26215
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    References listed on IDEAS

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    Cited by:

    1. Nam Hoang Vu & Tuan Anh Bui & Tram Bao Hoang & Hanh My Pham, 2022. "Information technology adoption and integration into global value chains: Evidence from small‐ and medium‐sized enterprises in Vietnam," Journal of International Development, John Wiley & Sons, Ltd., vol. 34(2), pages 259-286, March.
    2. Edmund J. Malesky & Helen V. Milner, 2021. "Fostering global value chains through international agreements: Evidence from Vietnam," Economics and Politics, Wiley Blackwell, vol. 33(3), pages 443-482, November.
    3. Dang, Quyen Thao & Jasovska, Pavlina & Rammal, Hussain Gulzar, 2020. "International business-government relations: The risk management strategies of MNEs in emerging economies," Journal of World Business, Elsevier, vol. 55(1).
    4. Edmund J. Malesky & Layna Mosley, 2021. "Labor upgrading and export market opportunities: Evidence from Vietnam," Economics and Politics, Wiley Blackwell, vol. 33(3), pages 483-513, November.

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