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At the Sixth Congress of the Communist Party of Vietnam in December 1986, reformers, upset by the lack of economic progress after the Vietnam War, replaced the "old guard" with new leadership. The reformers were led by 71 year old Nguyen Van Linh, who became the party's new general secretary. Linh was a native of northern Vietnam who had served in the south both during and after the war. In a historic shift, the reformers implemented free-market reforms known as Đổi Mới (renovation), which carefully managed the transition from a command economy to a socialist-oriented market economy.
With the authority of the state remaining unchallenged, private ownership of farms and companies engaged in commodity production, deregulation and foreign investment were encouraged while the state maintained control over strategic industry. The economy of Vietnam subsequently achieved rapid growth in agricultural and industrial production, construction and housing, exports and foreign investment.
