Vietnam's Doi Moi reforms in spotlight ahead of Kim's visit

In this Feb. 21 photo, children in Vietnamese and Korean traditional costumes stick on Vietnamese and Korean maps at Vietnam-Korea Friendship Kindergarten in Hanoi, Vietnam. Children at the kindergarten have been practicing singing and dancing, hoping to show off their talents to North Korean leader Kim Jong-un when he comes to town this week for his second summit meeting with U.S. President Donald Trump. Portraits hang on a wall are the late North Korean leader Kim Il-sung, left, and the late Vietnamese revolutionary leader Ho Chi Minh. AP

As North Korean leader Kim Jong-un makes his way to Vietnam for a nuclear summit with U.S. President Donald Trump, another key focus of his visit is what he will learn from Hanoi's "Doi Moi" reforms, which often cited as an example for the North to follow.

Since the White House's announcement of the summit location earlier this month, whether Kim will look around Vietnam's major manufacturing facilities, including South Korean tech giant Samsung Electronics Co.'s smartphone factory, has been a key point of interest.

Speculation over Kim's economic tour gained traction after the North unveiled a list of officials accompanying Kim for the Hanoi trip, which included O Su-yong, who is known to be in charge of the ruling party's economic affairs.

Kim Chang-son, an official at the North's State Affairs Commission, reportedly looked around the Samsung factory last week, as he worked out logistical details of the leader's trip. Known as the leader's "butler," the official was also in charge of protocol during the first Trump-Kim summit in Singapore last June.

"By visiting the factory, the North can send a message to the world that it wants investment from global companies, like Samsung," said Yang Moo-jin, a professor at the University of North Korean Studies in Seoul.

As of Sunday, no unusual signs were detected at the Samsung factory, with the company saying that no preparatory work has been done to receive the North Korean leader. Still, some observers say the possibility remains open until the last minute.

Observers have said that Kim could also visit major industrial facilities in Vietnam, such as Hoa Lac Hi-Tech Park, Vietnam Academy of Agricultural Sciences and the industrial city of Haiphong.

Such a visit, if realized, will reflect Kim's commitment to follow the Vietnamese Doi Moi reforms.

Under the Doi Moi economic reform policy initiated in 1986, Vietnam opened its economy to capitalism while remaining communist politically. It normalized ties with the United States in 1995 and signed a bilateral trade deal with the world's largest economy in 2000.

In 2007, Vietnam became a member of the World Trade Organization (WTO). According to World Bank data, Vietnam's gross domestic product soared from US$14 billion in 1985 to $224 billion in 2017.

North Korea has been pushing for economic development, unveiling a new policy line to focus on its economy, shifting from the "byongjin" policy of simultaneously seeking nuclear and economic development. Experts say Vietnam offers one of the best examples for Pyongyang to follow.

"Given its restraints in mobilizing domestic resources, North Korea needs resources and an influx of large-scale foreign capital from the international community," Cho Kyung-hwan, a visiting research fellow at the Sejong Institute, said in a recent article.

"Vietnam's example demonstrates that a trade agreement with the U.S. is essential and ultimately leads to accession to the WTO to complete the reform and opening-up procedure," he said.

The Trump administration has also urged leader Kim to follow the path to prosperity taken by Vietnam.

In July, Secretary of State Mike Pompeo said Trump believes North Korea can "replicate" the "once-unimaginable prosperity and partnership" the U.S. has with Vietnam today.

Trump also said Sunday the North could become "one of the great economic powers" without nuclear weapons.

"Because of its location and people (and him), it has more potential for rapid growth than any other nation!" he tweeted, referring to the North's leader. (Yonhap)