Three decades of growth have lifted Vietnam from a centrally planned economy into the ranks of middle-income countries, with a much larger economic scale and an enhanced international standing. These are widely acknowledged achievements. Yet behind the impressive numbers are a series of pressing questions: Why is the environment still deteriorating? Why does corruption remain deeply entrenched at multiple levels? And why are citizens increasingly demanding greater transparency, accountability, and higher-quality governance? These are not isolated questions or phenomena. They arise from a deeper cause: Vietnam, like many other developing countries, is caught in multiple development dilemmas during its economic transition. These dilemmas are not the result of individual shortcomings, but the outcome of a growth model heavily reliant on speed, the exploitation of tangible resources, and inefficient public investment; of a governance approach that prioritizes stability over long-term sustainability; and of the absence of a sufficiently clear value system to guide decision-making. A nation can move fast, but to move steadily and go far, it needs a consistent guiding axis. Vietnam has reached the point where it should ask: which values are non-negotiable? Development dilemmas: rapid growth and hidden costs To create jobs, upgrade infrastructure, and maintain stability, Vietnam […]
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