Vietnam is aiming for double-digit growth. In the photo: Production activities at the Western Food Processing Export Joint Stock Company (Westfood). Photo: MY THANH
The seminar was attended by delegates from a number of central ministries, departments, branches, research institutes, training institutions, economic experts, etc. to create a forum for discussion, contributing to clarifying current growth bottlenecks, identifying necessary conditions, as well as proposing breakthrough solutions to achieve the goal of rapid and sustainable growth in the coming time.
Vietnam has set a growth target of 8% or more by 2025 and “double-digit” growth in the 2026-2030 period, aiming for upper-middle-income status by 2030 and high-income status by 2045. Pursuing double-digit economic growth is not only a strategic aspiration, but also a measure reflecting the country’s vision, determination and macroeconomic management capacity.
However, according to economic experts, the path to realizing the double-digit growth target poses many challenges in terms of institutions, resources, growth quality, labor productivity, science and technology, and internal capacity of enterprises. At the same time, the global context is experiencing many fluctuations with factors such as geopolitical tensions, changes in policies of major countries, digital transformation, supply chain shifts, and green and sustainable development requirements, etc., which also require Vietnam to have flexible, effective, and breakthrough development strategies.
Associate Professor - Dr. Pham The Anh, Faculty of Economics, National Economics University shared: Although Vietnam has made efforts to shift to a growth model based on science, technology and innovation, due to low quality of human resources, limited investment resources and an unfavorable macro environment, breakthroughs in this field still face many difficulties. Therefore, without policy breakthroughs, Vietnam's economic growth may continue to depend mainly on exports and foreign investment, the growth rate will only be moderate and it will be difficult to make a breakthrough to escape the middle-income trap. Innovating the growth model to strengthen internal strength and minimize external risks is urgent in the current context.
According to Associate Professor - Dr. Pham The Anh, Vietnam can learn from the development experience of Asian countries, especially Japan, South Korea and Singapore, in planning and implementing strategies to achieve high economic growth. The first important lesson is the strong guiding role of the State in identifying key economic sectors, building long-term development plans, creating specific support policies on taxes, credit and a favorable business environment. The State proactively leads the industrialization process, focusing resources on areas with competitive advantages and high export potential with high added value. Although Vietnam's export activities are spread across many industries, although it can bring impressive total export revenue, it has many potential limitations and risks. Therefore, a policy of prioritizing the development and support of high value-added export industries is a strategic direction for Vietnam to improve economic efficiency, minimize risks and ensure sustainable development in the long term.
In addition, Vietnam needs to effectively increase public investment in key infrastructure projects, while improving the education and training system to improve workers' skills, meet the needs of developing economic sectors and attract high-quality foreign investment. Learning from experience in attracting FDI, transferring technology, and encouraging research and development are also key factors to improve the productivity and competitiveness of the Vietnamese economy.
Proposing strategic solutions to promote growth quality, Dr. Dang Thi Thu Hoai, Institute for Policy and Strategy Studies, said: The implementation of resolutions on the "strategic quartet": Science and technology, innovation, national digital transformation (Resolution 57), international integration (Resolution 59), law making and enforcement (Resolution 66), private economic development (Resolution 68); along with the reform of the apparatus, rearrangement of provinces, central and local governments towards streamlining, efficiency, effectiveness, and efficiency, creating favorable conditions for implementing solutions to improve growth quality, creating breakthroughs in productivity growth.
Dr. Dang Thi Thu Hoai emphasized: Vietnam needs to focus on effectively operating the endogenous mechanism of innovation, forming a culture of innovation, thereby creating a strong and sustainable driving force in productivity growth to create qualitative changes in the growth model. Specifically, it is necessary to focus on reforming the legal system, creating a healthy competitive business environment; creating favorable conditions, enhancing the capacity to absorb technology, focusing on key industries and advantageous regions, along with developing an innovation ecosystem and digital transformation.
Viet Ha (Vietnam News Agency)
Source: https://baocantho.com.vn/-e-xuat-cac-giai-phap-dot-pha-de-viet-nam-dat-muc-tieu-tang-truong-kinh-te-hai-con-so-a187133.html
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