Institute of Economic Studies was a unit belonged to the State Sciences Committee (predecessor agency of Vietnam Academy of Social Sciences). It was established in February 6th, 1960 according to the Decision 037-TTg issued by Prime Minister of the Democratic Republic of Vietnam; In January 15th 2004, the Institute of Economic Studies was changed to Vietnam Institute of Economics of Vietnam Academy of Social Sciences based on the Decree no.26/2004/NĐ - CP in January 15th 2004 of Government.
The fundamental functions of the Institute are to do research on theoretical issues and the practice of Vietnam economy’s changes in the relationship with the globalization, regionalization and international economic integration; to provide scientific evidences which have been using for Communist Party and State to make policies, strategies related to economic and social development; to organize and have training courses on economy for post – graduate level; and, to participate and develop the human resources on economic and sciences studies of the country.
Over the past 50 years, Vietnam Institute of Economics’ staff always work hard to overcome all challenges and difficulties in the progress of doing research on fundamental issues of theory and practice of Vietnamese and global economy. It is the foundation of providing evidences for making plans, strategies and policies of Communist Party and State. Also, Institute has made big contribution to the development of Vietnam’s sciences and economy through training and educating many prestigious scientists as well as spread the basic knowledge of this faculty through publishing the research works in journal and other media products.
Major achievements in scientific research
1. Period of 1960 - 1975
In this period, the research works were new and young but they had significantly contributed to the delivery of knowledge on economy and society as well as scientific evidences. These helped to make plans, strategies and policies for the economic development of Communist Party and State. Some particular examples could be listed as following:
+ On the theories and practice of the transition period of Vietnam, Mr. Bui Cong Trung – Institute director edited and published a book named North Vietnam on the way transiting to socialism, The Truth Publishing House, Hanoi, 1961. The book was one of the first works which completely described the transition progress of North Vietnam to socialism in Vietnam.
+ Pro. Tran Phuong analyzed the objective economic conditions and clarified the characteristics of Vietnam’s economy and society before the transition through his articles on Steps of industrialization on Economic Studies journal. They are also the foundation of verifying steps of this progress. There are many opinions and ideas reflected in this research work, for example, the industrialization started from agriculture was clearly shown through the developing pathways of the economy and Vietnamese Communist Party’s industrialization strategies in 1970s.
Institutes’ research works effectively clarified theories and practice of the solution to the socialism building and the socialism – oriented economy in North Vietnam.
These articles also provided correct information of South Vietnam’s economy under the period of America - Nguy for Governmental and State offices. Besides, it was information about the US economy’s tolerance limitation in the America War in Vietnam.
2. Period of 1976 - 1985
In this period, many research works had contributed to the formation of market economy and good economy as well as clarified new thought in the 6th National Congress of Communist Party.
Vietnam Institute of Economics released a book named 35 years of Vietnam economy in the period of 1945 to 1980 was considered as a summary of the developing history of Vietnamese economy. This is a work of Institute which basically gave an overview of a historical period from August Revolution and the socialism building of North Vietnam. The book wrote about the experiences in the socio – economic building in North Vietnam as well as some economic issues of South Vietnam. They are theoretical foundation and important practical evidences for Communist party and State to make policies and strategies.
3. Period of 1986 - 2005
The Institute focused on solving some main duties as below:
Firstly, to provide and add in new knowledge of modern market economy for Institute’s staff as well as for whole society.
Secondly, to do research on the regularity issues in the progress of changing from centralized economy to socialism oriented market economy. One of the major duties is to analyze and clarify issues related to the characteristics and structure of the goods economy which includes many components and is under the management of State; and the features of a market economy which also includes many components and types of socialism oriented ownership.
Thirdly, to do research on issues of an open economy and to be positively integrate to the global economy. Institute has expanded its research scope to economic globalization and its impacts on Vietnam, as well as changes of super powers and the developing trend of cross – national companies so on.
Fourth, to research industrialization and modernization of Vietnam in new circumstance, for example, open market economy, globalization and transition to knowledge economy).
Fifth, to study on the development of economics of Vietnam (Human development, growth, poverty and social equality so on).
In the period of 1986 - 2005, Institute were in charge of organizing two research projects at State level. They were about the socialism – oriented industrialization and modernization. Total topics at State level of the Institutes were 12 and focused on two major poles: Renovation of economy mechanism and the model of industrialization and modernization of Vietnam.
Besides above topics and projects, Institute also organized and participated in many other research projects at various level. The target was to solve urgent practice issues and new theories for Vietnam’s case.
The period of 1986 - 2005 was also the time when State, Government and Communist Party assigned many special tasks related to the development pathway and strategy for Vietnam Institute of Economics. The reason was the changes of global and Vietnam’s developing cases, for example, the East Asia financial crisis and its impacts on Vietnam economy (1997 – 1998), researches on globalization of international economy, the idea of stimulating the demand of economy and the economic integration with area so on.
4. Period of 2006 - 2013
In this period, Institute continued researching on globalization of international economy, anti – inflation, deep, wide, bilateral, multilateral integration with global economy after becoming the official member of World Trade Organization (WTO) v.v... At the same time, Institute’s staff were assigned to join in groups who were in charge of editing policies and strategies about social and economic growth and used for the National Congress of the Communist Party.
Due to the proper organization, all above projects and topics have become the summary of many theories applied in the developing progress of Vietnam’s economy. They are also valuable suggestions and recommendation which were used by key leaders and received high evaluation from society. Some recommendation are even implemented through Party and State strategies or institutionalized into Government’s policies.
Institute has published their research works on journal, reviews and books. Most of these works are considered as high quality and now Institute is implementing 6 research projects at State level, including:
1) Restructuration of Vietnam economy in the period 2011-2020 and moving toward the sustainable growth by Associate Pro. Dr. Tran Dinh Thien.
2) The green growth model in the framework of restructuring Vietnam’s manufacturing industry by Dr. Vu Tuan Anh.
3) Inflating the targets and meanings toward the monetary policies of Vietnam by Dr. To Anh Duong.
4) The land management and usage in Tay Nguyen by Dr. Vu Tuan Anh.
5) Restructuration of Tay Nguyen’s economy in a sustainable growth by Associate Pro. Dr. Bui Quang Thuan.
6) The development of enterprises in Tay Nguyen by Associate Pro, Dr. Nguyen Trong Xuan.
Vietnam Institute of Economics have obtained many significant achievements over the years. It is the results of the hardworking of all staff in many years. Institute were awarded the 1st class Labor Order (2001) and the 3rd class Labor Order (2005) by State.
