Breakthrough solutions for double-digit economic growth in the new era

The workshop attracted more than 200 delegates representing leaders of several central ministries and branches, local leaders, scientists, managers, and the participation of many economic experts.

At the workshop, speakers presented in-depth papers revolving around the main pillars to create growth breakthroughs, and discussed roundtable issues including: economic institutions, with recommendations on strong reform of the legal framework, shifting from "pre-control" to "post-control", building free trade zones, free innovation zones with superior institutions; human resources and talents - proposals for educational reform, building a new civil service regime, applying digital technology and artificial intelligence to training and human resource management.

Conference scene.

Speakers also discussed science, technology, innovation and digital transformation - promoting the implementation of issued national policies, building a unified development strategy for the period 2026-2045; private enterprises - identifying the private sector as the central driving force for growth, requiring separate policies, a favorable legal environment, access to finance and international market connectivity; mobilizing financial resources - proposing mechanisms for effective capital mobilization and allocation, improving public financial regulation capacity, consolidating macroeconomic stability; restructuring the economy and enhancing institutional capacity - affirming the central role of the enabling state and inclusive institutions to lead comprehensive reforms, ensuring quality growth.

Speaking at the conference, Dr. Dang Xuan Thanh, Vice President of the Vietnam Academy of Social Sciences, emphasized that our country is entering a development phase that determines the country's destiny. The 13th National Party Congress has set a very clear goal: to turn Vietnam into a developing country with modern industry and high average income by 2030; and to become a developed country with high income following a socialist orientation by 2045.

To realize that aspiration, the urgent requirement is: Vietnam must achieve a high, stable and sustainable economic growth rate in the coming decades.

The target of double-digit economic growth in the coming period is not only an ambition, but also a practical requirement, aiming to quickly narrow the development gap with leading countries, resolve the risk of falling behind; enhance endogenous capacity, resilience, build an independent and self-reliant economy; and create a worthy position for Vietnam in the international arena.

Dr. Dang Xuan Thanh, Vice President of Vietnam Academy of Social Sciences, spoke at the workshop.

Vietnam's economy is facing unprecedented opportunities and huge challenges in the context of slow global economic growth, increasing fragmentation of trade, finance and technology, and increasingly fierce strategic competition among major countries. The fourth industrial revolution, digital economy, green economy, circular economy... are fundamentally changing the way of global production and consumption.

Domestically, the room for growth from traditional drivers such as resource exploitation, land, low-skilled labor, or even public investment is gradually narrowing. If we do not promptly innovate the growth model and deeply restructure the economy, Vietnam will find it difficult to avoid the risk of falling into the middle-income trap. Therefore, the requirement is that we must create real breakthroughs and drastic changes in development thinking and action.

The workshop not only raises purely scientific issues but also serves as a forum for debate and practical connection, so that ideas can be transformed into policies with 6 basic focuses:

First, Vietnam’s current growth model no longer meets expectations of a dynamic, innovative and globally competitive economy. To achieve double-digit growth in the new era, Vietnam needs to establish a new growth model that focuses on quality, efficiency in the use of resources and labor productivity. This model must be centered on science and technology, innovation and high added value.

Second, institutional issues need to be raised as a prerequisite. Vietnam needs a modern, transparent, accountable institutional framework that promotes fair competition, supports innovative businesses, and effectively attracts social resources.

Third, seek and identify new growth spaces, fields and locations where Vietnam has not effectively exploited its potential.

Fourth, the issue of human resources in general, especially training and using talents, is decisive in the era of growth based on science, technology and innovation.

Fifth, the key role of the private economic sector in creating new growth drivers. Developing a team of national enterprises and strong Vietnamese brands with regional and global competitiveness is a vital condition if we want to maintain high growth rates in the long term.

Sixth, the solution to diversify financial instruments, solving the difficulties and challenges between huge investment needs while the ability to mobilize domestic resources is limited.

Experts discussed enthusiastically at the workshop.

Through the discussion sessions, the speakers agreed that to achieve double-digit growth, Vietnam cannot continue to depend on traditional drivers but needs to strongly transform to a growth model based on innovation, creativity and high productivity. Institutional reform, promoting private enterprises, taking advantage of opportunities from the fourth industrial revolution, and improving state management and governance capacity are key factors. Based on the presentations and discussions at the workshop, the Organizing Committee will synthesize and refine to develop a policy recommendation report to send to the Government and relevant agencies to realize the double-digit growth target.

Source: https://nhandan.vn/giai-phap-dot-pha-tang-truong-kinh-te-hai-con-so-trong-ky-nguyen-moi-post877944.html