Expert: Institutional breakthroughs needed to realize three pillars of growth

(Dan Tri) - Experts say that the draft document submitted to the 14th National Congress demonstrates a new development mindset with three pillars: Green growth, circular economy and digital transformation, but institutional breakthroughs are needed to realize it.

On October 15, the 13th Party Central Committee announced the full text of the Draft Documents to be submitted to the 14th Congress to widely collect public comments, lasting until November 15.

These drafts demonstrate the spirit of looking straight at the truth, objectively assessing the situation, and at the same time identifying viewpoints, goals and breakthrough solutions for rapid and sustainable development, demonstrating the nation's strong aspiration to rise up in the new era.

The three key development pillars of green growth, circular economy and digital transformation are considered key pillars to realize the country's development aspirations. This is not only a strategic orientation to adapt to the volatile global context, but also a testament to the Party's innovative thinking, long-term vision and comprehensive leadership role in sustainable development.

The draft document demonstrates a spirit of frankness and openness.

Evaluating the draft document submitted to the 14th National Party Congress, economic expert Le Dang Doanh, former Director of the Central Institute for Economic Management (CIEM), said that the draft demonstrated many innovations, strategic vision and strong development aspirations.

According to him, setting an average GDP growth target of 10% per year for the 2026-2030 period demonstrates unprecedented determination and aspiration for development. The draft also demonstrates a frank and open-minded spirit, clearly recognizing the shortcomings and limitations, while at the same time proposing breakthrough solutions for the coming period.

“The analysis of subjective causes should be more in-depth, especially clearly identifying bottlenecks in institutions and power control. Then, the solutions proposed will be more targeted and feasible,” he suggested.

A corner of Ho Chi Minh City (Photo: Hai Long).

The document not only identifies high growth and development goals, but also specifies specific directions, tasks, measures and action programs to realize those goals. He is particularly impressed with orientations such as "Building a number of large-scale economic groups and state-owned enterprises with international competitiveness", "Continuing to build and perfect synchronous institutions"...

According to him, when these contents are passed, they will create real breakthroughs, meet the expectations of the people and business community, and open up new development opportunities for the country and each locality.

Expert Le Dang Doanh emphasized that the draft has set out a series of specific tasks for agencies, emphasizing the improvement of laws on planning, land, construction, taxes... areas where many shortcomings still exist.

“Resolving these backlogs will remove bottlenecks, reduce time and costs for businesses in the investment process, thereby creating strong development momentum,” he emphasized.

According to him, this document is short, concise, and goes straight to the point, while demonstrating high political determination in realizing the Congress resolution. Once approved, this will be a "clear runway" to help Vietnamese businesses take off.

Green growth - circular economy - digital transformation are 3 new growth drivers

In the draft document submitted to the 14th Congress, Dr. Bui Thanh Minh, Deputy Director of the Office of the Private Economic Development Research Board (Board IV) assessed that the identification of the three pillars of green growth - circular economy - digital transformation in the draft document submitted to the 14th Congress shows a strong shift in development thinking, focusing on the efficiency of resource use, promoting productivity and innovation.

According to the expert, these are key factors for Vietnam to escape the middle-income trap and move towards a knowledge-based economy.

These three pillars are consistent with the spirit of Resolution 57 on science , technology and innovation development; Resolution 66 on continuing to promote the improvement of national development institutions; Resolution 68 on private economic sector development and Resolution 70 on ensuring national energy security and sustainable energy development.

"In other words, these are not just "three technical pillars", but three new growth drivers, constituting Vietnam's new growth model. Specifically, green growth is a value orientation - aiming for harmonious development between the economy and the environment," said Mr. Minh.

Circular economy is a way of operating - reusing resources, reducing costs and creating added value; digital transformation is a breakthrough tool - helping to improve productivity, efficiency and governance.

According to the expert, this combination demonstrates a consistent vision: Finding new growth drivers based on innovation and improving economic efficiency along with the harmony between economic development and environmental protection towards sustainable development.

Solar and wind power fields in Khanh Hoa (Photo: Nam Anh).

Similarly, Ms. Tran Thi Thu Trang, Chairwoman of the Board of Directors of Hanel PT New Generation Technology Joint Stock Company, also assessed that the Party had a very correct and timely view when identifying green growth and sustainable development as one of the key strategic orientations of the country in the coming period and this is being specifically institutionalized in the draft document submitted to the 14th Congress.

"This is a step that demonstrates the State's long-term vision and strong creative thinking in leading the Vietnamese economy into an era of growth based on knowledge, technology and innovation," she shared.

According to Ms. Trang, circular economy is a great development strategy and suitable for the characteristics of Vietnam's economy, especially in the context of the country's strong shift to a green growth model and sustainable development.

"This is not only a global trend but also a golden opportunity for Vietnamese enterprises to restructure their production model, reduce dependence on raw resources, and create new added value from what was previously considered waste," she shared.

From practical operations, Ms. Trang said that Hanel PT sees that the circular economy has huge room for development, especially in the agricultural, aquatic and forestry processing industries - areas where Vietnam has natural competitive advantages...

Business leaders believe that there needs to be a unified and consistent approach between the three strategic focuses: Green growth - circular economy - digital transformation, because these are not three separate directions, but three pillars that complement each other to form a green, modern and sustainable economy.

"In particular, the private economic sector must be identified as the center of innovation and the key driving force of this process. Enterprises are the place to turn policies into concrete actions, concrete products, and concrete values," she emphasized.

Ms. Tran Thi Thu Trang, Chairwoman of Hanel PT Board of Directors (Photo: Hai Long).

According to Dr. Bui Thanh Minh, Vietnam needs to prioritize a smart roadmap, not choosing one and discarding the other, but identifying the foundational pillar - the dynamic pillar - the target pillar. In the short term (2026-2030), digital transformation should be considered the foundational pillar, because data, digital technology and smart governance are prerequisites for effectively implementing both green growth and the circular economy.

"That is the spirit of Resolution 57, emphasizing that science - technology - innovation and digital transformation are "new strategic breakthroughs" to improve national productivity and competitiveness," he said.

In the 2031-2035 period, when digital capacity and institutions are more complete, it is necessary to shift the focus to green growth and circular economy, in order to concretize Resolution 70 on green energy development, emission reduction and industrial restructuring towards greening.

According to the expert, this prioritization is also consistent with the spirit of Resolution 66, which considers "institutions as the most important breakthrough" - that is, there must be a synchronous mechanism to connect these three pillars, avoiding dispersion and formality.

"It is necessary to link green growth and circular economy with digital transformation. Digital transformation is both a means and a goal, helping to overcome inherent weaknesses in governance and policy implementation, while paving the way for green growth and circular economy, aiming to become a high-income country by 2045 and achieve Net-Zero by 2050," he said.

"Institutional breakthroughs are needed to strongly attract private capital"

Sharing about the barriers that prevent the private economic sector from boldly investing in green production, Ms. Tran Thi Thu Trang said that production and service costs increase in the short term, making it difficult for green businesses to compete on price compared to those that have not yet converted.

"The initial investment cost for green technology is high, the capital recovery efficiency is slow, leading to a fear of investment. There are limitations in capital sources and financial costs, especially for small and medium enterprises. In addition, people's awareness and green consumption behavior are not yet widespread, making the green product market not large enough to create momentum for businesses," she said.

Regarding policies to connect key points: Green growth, circular economy, digital transformation - with the central role of the private economic sector, Hanel PT leaders believe that it is necessary to propose a comprehensive policy that "links 3 pillars" - green growth, circular economy and digital transformation programs should not be implemented separately, but need to be integrated in the same action framework, with a unified set of criteria on green finance, green credit and sustainable digital transformation.

VinFast factory (Photo: VF).

"Establish a fund to support green transformation and technological innovation for the private sector, especially small and medium enterprises - those with the will but limited resources. The State can support 50% of the cost of investment in technology, research and development (R&D), or allow participation in preferential green credit programs," she proposed.

Building a “policy sandbox” mechanism for pioneering businesses to deploy green - circular - digital models, giving them space to test, evaluate and replicate successful models, instead of being bound by traditional administrative regulations.

"Promote training and development of digital - green - creative human resources, considering this as a foundation for Vietnamese enterprises to not only catch up but also create new competitive advantages in the global value chain. Strengthen communication, education and create a green consumer culture, so that people and society can accompany businesses in the process of sustainable development," she proposed.

Meanwhile, Mr. Bui Thanh Minh said that an ecosystem of policies, from industrial policy, fiscal policy, carbon credit market... must be unified in a systemic policy mindset.

"The transformation of the private sector will require clear and consistent support from state policies; clear pressures or motivations from the market and within businesses, from management capacity to capital and technological capacity issues," he said.

According to Mr. Minh, it is necessary to create a market mechanism and a consistent support policy system so that green transformation not only enters the DNA of enterprises but also appears on their balance sheets. Without “profitability”, enterprises will lack motivation.

Dr. Bui Thanh Minh, Deputy Director of the Office of Private Economic Development Research (Department IV) (Photo: Manh Quan).

"Currently, the cost of investing in green technology is still high, while short-term profits are not enough to compensate; green credit, tax and incentive mechanisms are still scattered; and especially, the market for carbon credits, renewable energy and recycled materials has not fully formed," the expert said.

In the spirit of Resolution 68, the private sector is “the most important driving force of the economy”, but for them to truly lead, the State needs to shift from “encouraging” to “creating real economic momentum”.

For example, building a national green finance mechanism: Guarantee fund, preferential credit, and tax exemption for businesses investing in green technology innovation. Forming a domestic carbon market connected internationally, so that businesses can commercialize the benefits of emission reduction.

Prioritize green public procurement and incorporate ESG criteria into bidding policies, creating “guaranteed output” for green businesses. Simplify institutions and procedures for accessing green capital, and provide technical advice to small and medium-sized enterprises.

"This is the spirit of connection between Resolution 68 (private economy), Resolution 66 (institutional breakthrough) and Resolution 57 (innovation) - the State creates policies, businesses lead innovation, together promoting the shift to a green and sustainable growth model," Mr. Minh emphasized.

The expert affirmed that the private sector is the nation's internal strength and competitiveness. They do not need priority, they need to be treated fairly in a system of policies and behaviors consistent with long-term thinking.

Expert Le Dang Doanh also worried that in order to achieve the goals set by the Party, enterprises need to proactively restructure, improve management efficiency and international competitiveness. He emphasized that state-owned enterprises need to concretize the spirit of the document into practical operations such as cutting costs, increasing labor productivity, ensuring energy security and strategic supply sources...

The draft also provides a list of key national projects and works of historical significance such as high-speed railways, nuclear power, international financial centers, etc. According to Mr. Doanh, to improve feasibility, it is necessary to supplement strategic orientations on mobilizing financial resources for these projects.

“In addition to budget resources, it is necessary to make institutional breakthroughs to strongly attract private capital, develop the capital market into a key mobilization channel, and at the same time build a strategy to attract preferential international capital associated with the goal of green and sustainable development,” the expert pointed out.

In addition, according to him, Vietnam needs to continue to adhere to the United Nations' sustainable development goals, focusing on green economy, circular economy, innovation and science and technology. He believes that the State should include in the law preferential tax policies for innovative and green transformation enterprises... to be in line with global development trends.

Source: https://dantri.com.vn/kinh-doanh/chuyen-gia-can-dot-pha-the-che-de-hien-thuc-hoa-3-tru-cot-tang-truong-20251027071910985.htm