The Institute was formerly known as the Institute for Economic Management, established by the Party Central Committee under Decision No. 209 NQ-NS/TW dated 14/07/1977 that issued by the Politburo, with mandate to assist the Party Central Committee and the Government in economic management research in accordance with the Resolution of the Fourth National Party Congress. On 17/04/1978, the Standing Committee of the National Assembly issued Resolution No. 215-NQ/QHK6, approving the establishment of the Institute for Economic Management as a Ministerial-level agency of the Council of Government. On that basis, the Council of Government issued Decree No. 111 - dated 18/05/1978 prescribing tasks, authorities and organizational structure of the Institute for Economic Management.

In 1992, the Government issued Decree No. 07-CP dated 27/10/1992 assigning the State Planning Committee (now the Ministry of Planning and Investment) to be in charge of the Institute. According to Decision No. 117/2009/QD-TTg, the Central Institute for Economic Management is a national-level research institute, equivalent to a Type-I General Departments and directly under the Ministry of Planning and Investment.

Since its establishment, the Institute has witnessed changes in the managing bodies though, the overall functions and roles of the Institute remain the same. The Central Institute for Economic Management always takes a leading role in researching and advising various agencies of the Party, ministries and the Government on policy-making; pioneering in institutional reform initiatives to renovate the Vietnamese economy; drafting legal documents on institutional reform and improvement of business environment, which partly contributing to unchain and encourage businesses to invest and grow.

The Central Institute for Economic Management always strives to overcome all difficulties and challenges to fulfill the responsibilities entrusted by the Party and the State; the Institute has always been a go-to think tank in terms of researching, building and developing of economic management science in Vietnam, proposing policies of renovating economic management mechanism that are suitable to the reality requirements of the country’s socio-economic situation in each development stage; the Institute serves as an important and reliable economic advisory body of the Party, the State, and the Government; at the same time the Institute is also highly appreciated domestically and internationally in scientific research.

In terms of research, the Institute has actively studied new issues to advise the Party and the State on guidelines and policies of economic reform; the Institute has contributed directly and indirectly to the cause of administrative reform and accelerated the process of comprehensive economic renovation and reform. Besides, the Institute has been training and fostering middle and senior cadres for the Party and the State on economic management.

During the 35 years of establishment and growth, the Institute has brought forth numerous innovative and enterprising ideas, and has always pioneered in sustainable economic reform initiatives. The Institute focuses on strategic and practical issues for the reform and development of the Vietnam economy. In 2012, the Institute was ranked among the top 80 policy-research institutes globally in terms of national economic policies (according to The Global "Go-To-Think-Tanks" in 2013).

With its ambition, determination, and a ‘pioneering’ tradition, the Central Institute for Economic Management is aiming to become the leading policy research institute in Vietnam and be of regional influence.

With the internal values accumulated in the past 35 years, the Central Institute for Economic Management has become a reputable brand which continues to be fostered and shone.

Over 35 years of establishment and growth, from only 22 staff at the beginning, the Institute has to date had nearly 100 personnel, 89% of whom received university education and above (01 Associate Professor, 17 PhDs, 36 Masters, 35 Bachelors); research staff receive basic training and regularly attend capacity building courses domestically and internationally.

The Central Institute for Economic Management has inherited, developed and strengthened the glorious tradition of the Institute for Economic Management. In 35 years, the Central Institute for Economic Management has gone through a process of comprehensive renovation and been on the track of sustainable development. Those assets would help the Institute today firmly and confidently step into a new stage of development - becoming an economic research powerhouse domestically and regionally.

With high acknowledgement of the Institute’s 35 years of achievements, the Party and the State have awarded the Institute with prestigious honors such as: