The Cultural Dimensions of the Vietnamese Private Entrepreneurship

Vuong, Quan Hoang; Tran, Tri Dung

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The Cultural Dimensions of the Vietnamese Private Entrepreneurship

ICFAI Journal of Entrepreneurship Development, Vol. VI, Nos. 3 & 4, pp. 54-78, September & December, 2009

Posted: 29 Nov 2010 Last revised: 29 Jul 2019

See all articles by Quan Hoang Vuong

Quan Hoang Vuong

Université Libre de Bruxelles (ULB) - Solvay Brussels School of Economics and Management; Phenikaa University

Tri Dung Tran

Dan Houtte, Vuong & Partners

There are 3 versions of this paper

Date Written: September 22, 2009

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

Suggested Citation: Suggested Citation

Vuong, Quan Hoang and Tran, Tri Dung, The Cultural Dimensions of the Vietnamese Private Entrepreneurship (September 22, 2009). ICFAI Journal of Entrepreneurship Development, Vol. VI, Nos. 3 & 4, pp. 54-78, September & December, 2009, Available at SSRN: https://ssrn.com/abstract=1496262