PUBLIC POLICY FOR THE DEVELOPMENT OF PRIVATE SECTOR AND SMES.pdfVIP

JOURNAL OF ACADEMIC RESEARCH IN ECONOMICS JUNE 2009 PUBLIC POLICY FOR THE DEVELOPMENT OF PRIVATE SECTOR AND SMES IN A SOCIALIST MARKET ECONOMY DR. THANH HAI NGUYEN1 Monash Asia Institute, Faculty of Arts, Monash University, Victoria 3800, Australia Phone: +61 3Fax: +61 990 55370 Email:jerryhaiduong@yahoo.co.uk DR. QUAMRUL ALAM Department of Management, Faculty of Business and Economics Monash University, Victoria 3145, Australia. Phone: +61 3 990 31030 Fax: +61 3 Email: Quamrul.alam@.au DR DANIEL PRAJOGO Department of Management, Faculty of Business and Economics Monash University, Victoria 3145, Australia. Phone: +61 3 990 32030 Fax: +61 3 Daniel.Prajogo@.au M. NAZMUL AMIN MAJUMDAR Department of Management, Faculty of Business and Economics Monash University, Victoria 3145, Australia. Phone: +61 3Fax: +61 3 Email: Nazmul.majumdar@.au 1 Corresponding Author 80 JOURNAL OF ACADEMIC RESEARCH IN ECONOMICS JUNE 2009 Abstract The Vietnamese government has been conducting economic and administrative reforms to create a sustain market conditions for the growth of small to medium enterprises (SMEs) in Vietnam since 1986. In fact, the inconsistency in the government policy, slow pace of market reform, insufficient resource distribution, and poor initiatives to attract external support have postponed the g