Balancing policy, consumer desire and corporate interests

Abstract

The direction and pace of Vietnam's renovation is increasingly dictated by an emergent consumer culture rather than by government policy. This power shift from party authorities to consumers and corporations has far reaching implications for the country and foreign investors. While many government authorities and business persons contend fundamental changes are necessary, several companies have already begun profitable operations in Vietnam despite obstacles. Shultz presents a synopsis of the consumer revolution in Vietnam; articulates trends that local business people believe will ensure a smooth renovation of the economy; and describes elements of successful strategies currently being employed by foreign companies.