40 underpinned with technological developments in large electricity generation capacities since 1986 (Đổi Mới – Reform) firmly established the grounds for centralized electricity supply This would eve[.]
40 underpinned with technological developments in large electricity generation capacities since 1986 (Đổi Mới – Reform) firmly established the grounds for centralized electricity supply This would eventually increase the water and electricity consumption for energy generation Food production and agriculture: Vietnam’s system of collective agriculture was first reformed in 1988 Accordingly, the focus of rural development, from collectives was shifted to household production, land-use rights were assigned to farmers, agricultural markets were liberalized, and wider economic reforms were implemented Farmers intensified rice production, diversified into new crops such as coffee and cashews, and also improved the quality of the food By stimulating agricultural and overall economic growth, the reforms helped lower poverty in rural areas, hunger, and malnutrition In five years-from 1993 to 1998, the share of people living in poverty reduced by 21% (Minot et al., 2006) Entrepreneurship and productivity in agriculture, typically in food production, was unleashed, which made the agricultural growth sharply increase, reaching 3.8% per year from 1989 to 1992 As the government retreated from controlling markets and prices, farm households had new incentives to produce more and sell their surpluses Vietnam, which had imported more than 460,000 tons of food in 1987 and again in 1988 to meet shortfalls in national production, became the world’s third-largest exporter of rice in 1992, eliminating the national food shortages and generating large amounts of foreign exchange for the country (Dang, et al 2005; Nguyen, 2006) For about a decade starting in the early 1990s, the economy took off, the country’s GDP grew at an annual rate of 7.6%, which was thanks primarily to the rapid increase in agricultural growth, which was 4.9% annually between 1996 and 2000 (Minot et al., 2006; Sephri and Akram-Lodhi, 2002)