Vietnamese for 'renovation': the policy adopted by the Sixth Congress of the Communist Party of Vietnam in December 1986 to build a 'socialist-oriented market economy' while preserving one-party rule.
In more detail
Đổi Mới followed a decade of economic crisis after reunification and drew on earlier local experiments with household farming and enterprise autonomy. It dismantled collective farms, liberalised prices, opened the country to foreign investment and trade and gradually equitised state enterprises, without changing the Communist Party's leading role, which Article 4 of the 2013 Constitution reaffirms. Scholars describe the result as market-Leninism. GDP per capita rose from under US$500 in 1986 to about US$5,000 in 2025, while political rights remained tightly restricted.