5 things to do immediately to build a self-reliant and self-reliant economy

Commenting on the draft document to be submitted to the 14th National Party Congress, National Assembly delegate Pham Trong Nghia expressed his agreement with the important new points of the draft Political Report, which is integrated from 3 documents including: Political Report, Socio-Economic Report, and Party Building Summary Report.

According to him, this approach helps ensure consistency, brevity, conciseness, ease of understanding, ease of remembering, and convenience in organization and implementation.

Establishing a new development model

Going into specific content, delegate Pham Trong Nghia assessed that one of the issues throughout the draft is emphasizing the viewpoints, goals, methods and development motivations of the new growth model.

In particular, the draft Political Report clearly identifies: Science, technology, innovation, and digital transformation are the main driving forces, playing a central role in the development model; the private economy is one of the most important driving forces of the economy; high-quality human resources and effectively exploiting the advantages of deep international integration are key factors promoting development.

National Assembly Delegate Pham Trong Nghia

Mr. Nghia said that, in the context of the new era, building an independent and self-reliant Vietnam is a historical mission to realize the goal: By 2030, becoming a modern industrialized country with high average income; by 2045, becoming a developed, high-income country.

“Self-reliance does not mean being self-sufficient or standing outside the world, but rather building endogenous capacity, mastering technology, enhancing resilience, and at the same time deeply integrating to make the most of global opportunities,” he emphasized.

Building a self-reliant and self-reliant economy

From there, delegates suggested that the draft Political Report needs to more clearly define the goal of building a self-reliant and self-reliant economy in the new development model with 5 things that need to be done immediately.

First, it is necessary to strategically control the openness of the economy.

Delegates analyzed that Vietnam is a small-scale economy but has a very high openness. According to the World Bank (WB), Vietnam is among the group with the fastest and largest increase in openness in the world. In 2025, import-export turnover is estimated to reach 882 billion USD, 1.7 times higher than GDP (about 510 billion USD).

High openness is an advantage, but it also makes the economy sensitive and vulnerable to global fluctuations, easily stuck in a processing position, with low added value and facing the risk of falling into the "middle-income trap".

Therefore, Mr. Nghia noted the need to strategically control the openness of the economy, considering this the key to ensuring sustainable development.

Second, it is necessary to develop domestic supply chains.

According to the delegate, Vietnamese enterprises must be the core force of a self-reliant and self-reliant economy. Therefore, the draft Political Report needs to add content prioritizing domestic enterprises to participate in large public investment projects, especially in transport infrastructure, technology, and energy, to improve capacity and create a foundation for forming a strong domestic supply chain.

Third, it is necessary to optimize the market of more than 100 million people.

The delegate said that the domestic market must be considered a pillar of growth by continuing to promote the movement “Vietnamese people prioritize using Vietnamese goods”. Along with that are policies to help domestic enterprises exploit the market, master technology, master products and increase value.

Fourth, it is necessary to focus on fully utilizing the available labor force to effectively take advantage of the “golden population” period that is gradually coming to an end. This requires a combination of macroeconomic (aggregate demand) and microeconomic (labor supply and quality) policies.

Currently, the whole country has 1.6 million young people aged 15-24 who do not go to school, do not work, do not participate in training (accounting for 11.5% of the total youth population). The unemployment rate of this age group in the third quarter of this year was over 9%, continuing to increase. According to him, this is a huge waste of resources and requires assessment and synchronous solutions.

Fifth, it is necessary to narrow regional disparities in the new development model.

The delegates suggested urgently summarizing specific mechanisms to propose perfecting laws and building new policies suitable for the development space after the province's merger. Thereby, we can promote more reasonable resource allocation, ensuring balanced development.

Vietnamnet.vn

Source: https://vietnamnet.vn/5-viec-can-lam-ngay-de-xay-dung-nen-kinh-te-tu-chu-tu-cuong-2461487.html