Mobilizing financial resources for double-digit growth targets.

VTV.vn - Vietnam has significant potential to mobilize financial resources for double-digit growth targets, but the key requirement is to improve the efficiency of capital utilization and enhance productivity.

Vietnam has significant potential and advantages in mobilizing financial resources to achieve double-digit economic growth, with a savings rate exceeding 37.3% of GDP, higher than some regional countries such as Thailand, India, and the Philippines. Many other sources of investment capital are also increasing. However, improving the efficiency of capital utilization is crucial to enhancing investment effectiveness.

This was an important topic discussed at the Vietnam Economic Forum 2025, Outlook 2026, held on the morning of December 16th in Hanoi , with the theme "Mobilizing and effectively utilizing financial resources for economic growth targets in the period 2026 - 2030".

The forum presented an important indicator: the ICOR (Incremental Capital Output Ratio), which measures the efficiency of capital utilization. Vietnam's ICOR has fluctuated between 5.8 and 6.4 over the past 10 years, meaning that approximately 6 units of investment capital are needed to achieve 1 unit of GDP growth. In contrast, this ratio during periods of rapid growth in some countries was only around 3-4 units.

The reasons stem from obstacles in the operational process, leading to waste in investment and project implementation. Experts emphasize that efficient use of investment capital plays a crucial role in promoting growth and enhancing the capacity and competitiveness of the economy.

The report also shows that economic growth is dependent on capital for almost half of its costs, while factors such as new labor account for about 9.6% and improvements in total factor productivity (TFP) account for 45.5%. To achieve double-digit growth targets, it is necessary to improve productivity, focus on science and technology, innovation, and concentrate on inclusive and sustainable growth, instead of a growth model heavily reliant on capital.

Experts also recommend accelerating institutional reforms, developing a balanced financial market, and focusing on developing the capital market and derivatives market to reduce dependence on bank capital. At the same time, macroeconomic stability and reforms to the investment and business environment are necessary to attract more investment resources, both domestic and international.

Source: https://vtv.vn/huy-dong-cac-nguon-luc-tai-chinh-cho-muc-tieu-tang-truong-2-con-so-100251216152057066.htm