The Cultural Dimensions of the Vietnamese Private Entrepreneurship

Abstract

In this essay, we explore cultural impacts on the private entrepreneurship in the post-Doi Moi Vietnam. Some important aspects of the traditional cultural values of the Vietnamese society are explored in conjunction with the socio-economic changes over the past two decades. Traditional cultural values continue to have strong impacts on the Vietnamese society, and to a large extent to adversely affect the entrepreneurial spirit of the community. Typical constraints private entrepreneurs face may have roots in the cultural facet as legacy of the Confucian society, such as relationship-based bank credit. Low quality business education is both victim and culprit of the long-standing tradition that looks down on the role of private entrepreneurship in the country.

Keywords: Culture; Confucian values, Confucianism, Entrepreneurship, Market economy, Rent seeking, Vietnam

JEL Classification: A14, E00, L14, L26, M21, P20, P31, Z10, Z13