Since the doi moi reforms in 1986, Vietnam has experienced a dramatic socioeconomic

transformation. Lim examines the role of the state and its interaction

with market forces in bringing this change about.

Taking the motorcycle and banking industries as case studies, this book explores

the dynamics between the state and transnational corporations in shaping

the manufacturing and service sectors, respectively. Vietnam, as one of Southeast

Asia’s quintessential latecomer economies with little prior experience of

dealing with transnational corporations, has nevertheless been quite successful

in maintaining some control over the impact of foreign direct investment. Yet,

the learning outcomes remain highly uneven. In addition, Lim argues that Vietnamese

advancement in both industries mirrors only partially the more generalized

patterns of state-led development in East Asia’s earlier batch of latecomer

economies. Vietnam’s case thus presents practical lessons on how to succeed

in crafting and utilizing policy instruments to achieve domestic economic and

technological upgrading.

This book will be of great interest to scholars of political economy and industrial

policy in East Asia, as well as to scholars and policy professionals analyzing

approaches to development strategy more broadly.

Guanie Lim is Research Fellow at the Nanyang Centre for Public Administration,

Nanyang Technological University, Singapore. His main research interests

are comparative political economy, value chain analysis, and the Belt and Road

Initiative in Southeast Asia. Guanie is also interested in broader development

issues within Asia, especially those of China, Vietnam, and Malaysia.

In the coming years, he will be conducting comparative research on how and

why China’s capital exports are reshaping development in two key developing

regions – Southeast Asia and the Middle East.