'Positioning' Vietnam's economy in the 2026-2030 economic strategy

(Chinhphu.vn) - From post-pandemic recovery to the need for sustainable growth, the Vietnam Economic - Financial Forum 2025 opens a series of strategic discussions on positioning Vietnam in the new context and creating a development foundation for the coming period.

Forum with the theme "Positioning Vietnam in the new context and strategic economic and financial vision for the 2026 - 2030 period" - Photo: VGP

Positioning new growth models in the context of global competition

On December 5 in Hanoi, the Ministry of Finance organized the Vietnam Economic - Financial Forum 2025 with the theme "Positioning Vietnam in the new context and strategic economic - financial vision for the period 2026-2030". This is an important annual event, bringing together representatives of management agencies, economic experts, international organizations and the business community to discuss key economic issues as Vietnam enters a new stage of development.

2025 is considered a pivotal time when the economy continues to recover from the pandemic, while the world still faces many uncertainties. Major trends such as strategic competition between key economies, the need for green transformation - digital transformation, and the shift and restructuring of global supply chains are creating more complex challenges for macroeconomic management and policy making.

In his opening remarks, Deputy Minister of Finance Do Thanh Trung emphasized that Vietnam is facing strategic choices for the 2026-2030 period. According to the Deputy Minister, the requirement is to reposition the economy in the new context, while creating a breakthrough in mobilizing and effectively using resources to serve growth. He said that the growth model needs to be innovated in the direction of relying more on productivity, science - technology and innovation, while traditional driving forces continue to be exploited sustainably.

Deputy Minister Do Thanh Trung also emphasized that establishing a new growth model requires close coordination between economic sectors. The State plays a role in creating strategic infrastructure, improving institutions and expanding economic space. The private sector is identified as an important driving force for innovation and market development. Meanwhile, foreign investment needs to be selectively attracted, linked to technology transfer, green standards and sustainable development requirements.

He also said that Vietnam needs to promote the effective exploitation of dynamic regions and growth poles, forming economic centers with spillover effects, thereby contributing to realizing the development goals until 2030 and the vision to 2045.

Deputy Minister of Finance Do Thanh Trung speaks at the forum - Photo: VGP

Labor productivity and institutional reform: Determinants of medium-term growth

This year's forum includes two thematic discussion sessions. In the first session, Mr. Nguyen Nhu Quynh, Director of the Institute of Economic and Financial Strategy and Policy, presented a paper on "Adaptation - Transformation - Acceleration: Foundation for the 2026-2030 development strategy". Mr. Quynh said that in the 2024-2025 period, Vietnam's economy will maintain a positive recovery momentum, with a number of important driving forces such as high political determination, stability in the agricultural sector, recovery of industry associated with exports and impressive growth in the service sector.

The macro environment continues to be stable, inflation is under control, interest rates are at reasonable levels, domestic consumption has recovered and development investment has been strengthened. However, Director Nguyen Nhu Quynh also pointed out structural limitations: low labor productivity, rapid population aging, and bottlenecks in institutions, infrastructure and human resource quality. According to him, to achieve the growth target of the coming period, Vietnam needs to synchronously shift all three areas: from small-scale production to modern industry and services.

Experts and representatives of management agencies exchanged at the Vietnam Economic - Financial Forum 2025 - Photo: VGP

From an international perspective, Dr. Jochen M. Schmittmann, Resident Representative of the International Monetary Fund (IMF) in Vietnam, highly appreciated the resilience of the Vietnamese economy to global fluctuations. He said that economic growth remained high, consumption and investment continued to recover, and exports increased sharply compared to the same period.

However, the IMF representative also warned of two long-term challenges: the slowing growth trend as average incomes increase and the narrowing of the golden population advantage. Dr. Jochen M. Schmittmann particularly assessed the role of labor productivity, considering it a decisive factor for sustainable growth: "Productivity is not everything, but in the long run it is almost everything."

According to the IMF, Vietnam needs to continue to maintain a prudent medium-term fiscal framework, flexibly using policy space to support investment and social security when necessary. At the same time, it is necessary to modernize monetary policy and develop capital markets according to international standards, in order to improve the ability to mobilize resources for development.

Dr. Schmittmann emphasized: "Vietnam's medium-term growth depends largely on reform progress and the ability to seize opportunities from global economic restructuring."

Vietnam Economic - Financial Forum 2025 includes 2 sessions:

The first session with the theme "Strategic orientation for economic and financial development: Perfecting the foundation for sustainable development" focused on analyzing the current state of Vietnam's macroeconomic foundations in 2025, identifying the world context and positioning the Vietnamese economy in the new context, and proposing strategic economic and financial orientations for the period 2026 - 2030.

The second session with the theme "Creating new driving forces for growth" will discuss and seek new driving forces for Vietnam's economy in the new context, focusing on pillars such as science and technology, innovation, private economic development and green transformation.

Mr. Minh

Source: https://baochinhphu.vn/dinh-vi-kinh-te-viet-nam-trong-chien-luoc-kinh-te-2026-2030-102251205121640141.htm