APPLICATION OF ECONOMIC REFORM EXPERIENCE OF VIETNAM IN MODERNIZATION OF KAZAKHSTAN ECONOMY

Purpose – studying positive experience of the Vietnamese national economy reformation in order to determine the directions in the effective reforming Kazakhstan economy
Methodology – methods of empirical research (observation, description, comparison, and generalization) and methods of theoretical survey (abstracting, analysis, synthesis, induction and deduction) were employed. The research is based on the information data of the World Bank, Trade office of the Russian Federation in the Socialist Republic of Vietnam, scientific works of domestic and foreign researches, and periodical press.
Originality/value – the paper studies recent trends in world economy, evaluates the implementation of socialist reforms in the Socialist Republic of Vietnam, analyzes the causes and factors that have provided the rapid economic national growth. It draws conclusions about adopting the practices of the Vietnam’s economic reforms in the Republic of Kazakhstan. The recommendations that can be used by public authorities for improving national economy competitiveness are of great practical value.
Findings – the paper defines the Vietnam economy, analyzes the major recent economic reforms. As a result, it identified competitive advantages contributing to the observed economic success: the use of software tools to manage the social and economic development of the regions, stimulating their innovations and efficient human resource involvement, the state program to support international business and investment, and maintaining a high level of state education expenditures. In conclusion, the main directions of a new model of the Vietnamese economy, which can be borrowed by Kazakhstan for reforming national economy are stated.

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