In a New Year's interview with Thanh Nien newspaper, leading Vietnamese economic experts affirmed that, at present, we have all the necessary elements to enter a new era, an era of national progress.
Many major foreign brands participated in the first semiconductor exhibition in Vietnam.
PHOTO: MINISTRY OF SCIENCE AND TECHNOLOGY
Katolec Vietnam Co., Ltd. - Quang Minh Industrial Park, Hanoi
PHOTO: PHAM HUNG
Developing the digital economy as a driving force into a new era. Pictured : Microchip and high-rise systems laboratory at Ho Chi Minh City University of Technology.
PHOTO: NGOC DUONG
Dr. Le Dang Doanh , former Director of the Central Institute for Economic Management Research:
The driving force for breakthrough innovation.
PHOTO: TIEU PHONG
It can be said that the country's progress, overcoming the harsh challenges of the early years of reform, stemmed from the Party and State leaders listening to and summarizing the creative ideas of the masses to implement reforms. This was evident in the implementation of contract farming in agriculture , the "breaking the rules" movement in state-owned enterprises, and the bold initiative to vigorously develop the private sector. The first reform was successful because the country's leaders at that time followed the motto "look straight at the truth, clarify the truth, speak the truth," and unleashed the country's potential. This time, too, to lead Vietnam into a new era, General Secretary To Lam has repeatedly emphasized institutional reform, the application of the digital economy, and innovation. Here, I want to clearly analyze two points: the digital economy and institutional reform. Firstly, digital transformation in all industries, sectors, and businesses should be seen as both a driving force and a necessity to increase the efficiency of capital, helping to increase profits for businesses and the economy. E-government, the establishment of digital businesses, and digital citizens require comprehensive transformation and profound innovation. Clear direction will help the economy develop favorably in line with current trends. Secondly, and most importantly, is institutional reform. The recent "anti-corruption campaign" has been very successful, exposing major corruption cases and recovering money for the state. However, petty corruption remains widespread. Harassment by officials and civil servants when handling procedures forces businesses to incur significant "grease money" and "unofficial" costs. These are the biggest wastes eroding the economy. To usher in a new era, the General Secretary announced reforms to the Party and State apparatus, confronting the truth, highlighting existing shortcomings and weaknesses, and seeking solutions. This is an important signal for the people and businesses to trust and have high expectations. On this basis, the efficiency of the apparatus will improve, transparency will increase, and the system of granting favors and privileges to businesses and citizens will no longer exist. I hope that this comprehensive approach will be implemented through practical policies and actions, encouraging the participation of the entire population so that Vietnam can have the momentum to make a new breakthrough and enter a new era.
Professor Augustine Ha Ton Vinh:
Three major bottlenecks need to be addressed.
PHOTO: PROVIDED BY THE SUBJECT
This year, we celebrate the 80th anniversary of the founding of our nation, a historical journey spanning nearly a century—not too long compared to the history of a nation's development, but enough to demonstrate how a country has gradually become stronger. In 1986, Vietnam began its Doi Moi (Renovation) process. At that time, inflation peaked at nearly 775%, and the size of the economy was only $26.88 billion. People's lives were extremely difficult and impoverished. However, the Doi Moi process brought the Vietnamese economy to a new chapter. Most importantly, this was a fundamental transition from the old management mechanism to a new one, initially liberating productive forces and creating new impetus for development. In 2024, the size of Vietnam's economy is projected to reach approximately $469.67 billion. This is a spectacular breakthrough. However, compared to developed countries, the size of Vietnam's economy is still quite modest. Vietnam's GDP per capita lags behind many countries, from Singapore to Malaysia, Thailand, and Indonesia… This illustrates where we stand and why we need to enter a new era. This is the second wave of reform, on a larger scale, with greater determination and decisiveness, requiring people who dare to think new, dare to do new things, and even correct mistakes. With that spirit, I believe we can do it.
There are three major bottlenecks that Vietnam needs to address to enter a new era: institutions, infrastructure, and human resources. Here, I will only talk about the issue of human resources and the utilization of talent. I am a Vietnamese-American. I returned to Vietnam because I love this land; it is my homeland. I am proud to be Vietnamese and want to emphasize that anyone who is Vietnamese, or has Vietnamese ancestry, wants to contribute to making their country prosperous and beautiful. Currently, Vietnam is developing a strategy to build the semiconductor industry, a field in which many talented Vietnamese people abroad are employed. If we talk about removing the bottleneck in utilizing talent, would we dare to entrust a Vietnamese person abroad with the role of chief engineer on a project, for example, building a semiconductor chip industry? Or in the role of advisor to specialized ministries? Historically, President Ho Chi Minh once appointed Professor Nguyen Van Huyen, a non-Party member, as Minister of Education and Training for nearly 30 years. In most cutting-edge fields of modern science, from electronics, biology, new materials, new energy, and information technology to aerospace and oceanography, Vietnamese experts are involved in research and work in developed countries. This is a resource that needs attention in the process of building a new era of national progress.
Mr. Nguyen Hoang Lien , Chairman of the Vietnam Internet Association:
A real opportunity for Vietnam to enter a new era.
PHOTO: PROVIDED BY THE SUBJECT
The digital economy, or simply put, the application of information technology in all fields at a deeper level than before, creates added value and improves people's lives. In addition, the digital economy creates new, groundbreaking products. Vietnam does not yet have a developed economy, but this is precisely the opportunity and driving force to advance more rapidly into the new era. Just as Vietnam came later to the internet era, its growth has been rapid and is now on par with the world. We are determined to develop the digital economy, using it as a new growth engine for Vietnam in the next era – developing an economy based on the pillars of science, technology, innovation, entrepreneurship, and the contribution of the private sector. The drivers of economic growth in the past are no longer suitable for the future. Therefore, based on the directives of General Secretary To Lam and the current realities of the country, we can be confident that this sector will advance even faster in the future. To move faster and further, we must boldly identify opportunities in overseas markets. Development policies and legal frameworks for the digital economy in general, and sectors such as digital content and AI in particular, are also geared towards the global market.
Dr. Nguyen Duc Do , Deputy Director of the Institute of Economics and Finance:
A transformation that holds much promise.
PHOTO: PROVIDED BY THE SUBJECT
It is clear that the directions set forth by General Secretary To Lam and the Government for Vietnam to enter a new era of national progress are all on the right track. From streamlining the administrative apparatus and reducing personnel to digitizing the economy to increase labor productivity, raise people's incomes, reduce recurring costs, and allocate resources for investment, all are very correct approaches. In particular, the initial steps in institutional reform and streamlining the administrative apparatus have been implemented very quickly and strongly, demonstrating high determination and bringing great expectations for a practical transformation. Of course, whether Vietnam's economy can accelerate in 2025 depends on many objective factors such as the global economy and international market demand. However, administrative reform is a mandatory element for us to go far and sustainably. Throughout Vietnam's economic development and renewal process, each step forward has been linked to an institutional revolution. For a long time, the Vietnamese economy has been sluggish. Although it has kept pace with new trends, it has failed to yield clear results, largely due to institutional and administrative shortcomings. Public investment is also hampered; money is available but cannot be spent because no one dares to make decisions, and responsibility is shirked. Therefore, starting the reform process with an institutional revolution is very appropriate. A streamlined and transparent administrative apparatus will create a more open business environment, not only supporting the development of domestic businesses but also attracting FDI, paving the way for large investors to come to Vietnam, and further addressing the capital issue. Simultaneously, promoting the digital economy will improve labor productivity. However, it is necessary to acknowledge that the reform process still faces many difficulties and obstacles. The initial transformation will take about 1-2 years, and the effectiveness and extent to which the Vietnamese economy can accelerate after that will depend on many factors and require time for new policies to take effect.
Associate Professor - PhD Vu Minh Khuong , Lee Kuan Yew School of Public Policy - Singapore:
Breakthrough policies will create internal strength.
PHOTO: PROVIDED BY THE SUBJECT
Often, during difficult periods, Vietnam experiences breakthroughs, a powerful resurgence that drives change and transforms the economy. This resurgence is fueled by two factors: aspiration and internal strength. History has proven that this change stems from the vision of leaders with great aspirations, the unanimous determination of the entire political system, like the Dien Hong Conference of yesteryear, spreading throughout the population, creating a spirit of enthusiasm and strong belief, inevitably leading to success. Vietnam possesses both of these factors. The nation's resources may be limited, but breakthrough policies and mechanisms that align with the people's aspirations and the country's circumstances will create this internal strength.
1986 is considered the first major reform since the reunification of the country, creating a remarkably impressive rise for Vietnam. There were unimaginable difficulties, but we succeeded. It was a renewal of thinking, breaking barriers, a desire to reach further, and bold integration. That transformation is something to be proud of and cherish. In 2024, with the high determination of the entire political system, led by General Secretary To Lam, I see this second wave of reform as significantly different, determined to unleash the shackles of thinking, not in the spirit of breaking barriers, but in building and establishing scientific institutions to create a powerful nation that future generations will be grateful for and proud of. In this context, we are looking towards the future, eager to contribute, and ready for an era of takeoff. I felt this very strongly when interacting with dedicated retired and current leaders, local leaders, senior officials, businesses, and foreign investors… Therefore, this is a priceless opportunity; don't let it slip away. This time it will be much more difficult than the first, but we will succeed.
Dr. Nguyen Quoc Viet , Deputy Director of the Institute for Economic and Policy Research, School of Economics, Vietnam National University, Hanoi:
The digital economy helps to enhance the value of economic sectors.
PHOTO: PROVIDED BY THE SUBJECT
We are hearing a lot about the digital economy, and this is the main driving force for Vietnam to enter a new era. The digital economy is very broad; it includes digital government, digital transformation, and the digitalization of business sectors. For example, the development of applications to connect car and motorbike drivers led to the formation of ride-hailing technology or a part of the sharing economy. Similarly, e-commerce, if it's simply online sales, is not enough; it must incorporate artificial intelligence (AI), automated sales, virtual marketplaces, and consumer behavior analysis based on big data.
The world is rapidly developing with new technologies in all aspects related to AI, semiconductor chips, and Big Data, and this is truly an opportunity for Vietnam to advance faster. To seize this opportunity, we need to identify priorities. For example, developing the Platform Economy – a part of the digital economy where economic and social activities take place on digital platforms. This is an opportunity for leading and connecting innovations that spread across many different sectors, especially in the service industry. For instance, why hasn't Vietnam developed applications for public bus and train travel combined with payment at public places, or vending machines? The next step is to have groundbreaking pilot policies (Sandbox) that create a stronger impetus for economic sectors to truly transform into a digital economy, not just simply applying technology as before.
Thanhnien.vn
Source: https://thanhnien.vn/but-pha-vao-ky-nguyen-moi-18525010319323892.htm
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