The political-economic model of Vietnam: Suitability of a Communist Party-led system in a socialist-oriented market economy

Vietnam’s political system, led by the Communist Party of Vietnam, combined with a multi-sectoral, competitive market economy represents a unique and unprecedented development model. This study examines the compatibility of this model through the lens of Karl Marx’s theory on the relationship between the economic base (infrastructure) and the superstructure. It also draws on Vietnam’s socio-economic achievements under the leadership of the Communist Party of Vietnam to support this assessment. The findings affirm the continued relevance of Marxism-Leninism as the ideological foundation and strategic vision of the Party, highlighting its crucial role in policy formulation. The study argues that this foundation not only guides national development but also strengthens Vietnam’s case for international recognition as a market economy.