What are the economic and political systems like in Vietnam?

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Vietnam has been described as a socialist-oriented market economy, integrating the principles of market economics while maintaining the political structures of a communist state. The economy has undergone significant reforms since the 1980s, moving from a centrally planned model to one based on market principles. However, the government retains strong control over the economy and key industries. The political system is a one-party communist state, with significant power concentrated in the hands of the Communist Party of Vietnam.

What Are the Economic and Political Systems Like in Vietnam