The digital economy will be the new pillar of the economy.

To avoid falling behind in the digital age, Vietnam needs to innovate its development model by making science, technology, and innovation its central driving force.

This was a notable point raised at the Vietnam Economic Forum 2026, themed "Development Model Based on Science and Technology, Innovation and Digital Transformation," held on March 25th in Hanoi.

The forum focuses on clarifying the concept and content of Vietnam's new development model within the context of international and domestic factors impacting Vietnam's development model reform process; analyzing and evaluating practical lessons learned from other countries in reforming and restructuring their development models, emphasizing the role of the Government in creating policies for the digital economy, data economy, artificial intelligence, green transformation, and restructuring global value chains, thereby providing lessons for Vietnam in establishing its new development model.

At the same time, the Forum assessed the current state of Vietnam's development model, pointing out achievements, limitations, bottlenecks, and reform requirements for the future.

Overview of the Forum. (Photo: Thai Van)

The need to establish a new development model.

According to experts, Vietnam is facing a "golden opportunity" to develop its data economy, as its digital infrastructure is increasingly完善, the rate of internet users and smart device users is rising, along with strong impetus from national policies on digital transformation.

Today, data is not only a new resource but also a core element in enhancing productivity, optimizing production and business operations, and creating entirely new business models. If effectively harnessed, the data economy will become a crucial growth driver, contributing to Vietnam's breakthrough in the coming period.

Vietnam's new development model needs to be based on pillars including modern institutions, advanced science and technology, an innovation ecosystem, high-quality human resources, and a synchronized, shared digital data infrastructure that ensures data is "accurate, sufficient, clean, and viable."

At the same time, it is necessary to quickly establish a data market and have a strategy for selecting and investing strategically in key technologies associated with priority industries and sectors, in order to serve the goal of double-digit growth and ensure technological self-reliance.

Speaking at the Forum, Mr. Nguyen Duc Hien, Deputy Head of the Central Policy and Strategy Committee, said that according to the Politburo's 2026 work program, the Central Policy and Strategy Committee has been assigned to lead the development of a project to innovate the national development model based on science and technology, innovation, and digital transformation. This is a particularly important task, requiring the broad participation of experts to clarify both the theoretical and practical basis for the new development model.

After nearly 40 years of Doi Moi (Renovation), Vietnam's growth model is facing the need for a radical transformation to adapt to the new context. Building a new development model aims not only to summarize past experiences but also to shape a long-term strategy for the economy.

AI - A strategic national manufacturing infrastructure.

According to Mr. Nguyen Trung Chinh, Chairman of CMC Group, the new growth driver is the digital economy, more specifically the data economy and the artificial intelligence (AI) economy. “Currently, data is no longer simply a technological element, but has become a new type of production infrastructure. Data is a digital workforce, the foundation for innovation, and the core driving force for improving labor productivity,” the CMC leader stated.

"Meanwhile, AI is no longer viewed merely as a technology, but has become a strategic national production infrastructure. AI will drive the development of the data economy, support industry, and spread its impact throughout the entire economy."

Mr. Nguyen Trung Chinh, Chairman of CMC Group, shared his views at the Forum. (Photo: Viet Dung)

Mr. Nguyen Trung Chinh argued that the traditional growth model has reached its limits, and relying solely on capital or traditional indicators will make it very difficult to ensure double-digit growth and sustainable high growth rates.

"If the data economy and AI economy develop well, the contribution of this sector could reach approximately 30% of GDP. The economic value could reach tens of billions of USD, or even around 80 billion USD by 2030," said Mr. Nguyen Trung Chinh.

“The data and AI ecosystem, as we see it, is a ‘value-generating machine’ that exponentially increases labor productivity. Thanks to this, some industries can achieve growth rates of 20%, 30%, or even 50%. Only with such growth drivers can we achieve double-digit growth targets.”

Sharing lessons learned from international experience, Associate Professor Dr. Tran Dinh Thien, a member of the Prime Minister's Policy Advisory Council, cited examples of "miracle" economies like Japan, South Korea, and China, all sharing a common characteristic: breakthroughs achieved by "breaking through the technological ceiling" of the era. Japan succeeded in transitioning to a new industrial phase with corporations like Sony and Panasonic. South Korea and China followed different paths but both relied on strong international competitiveness and significant technological efforts.

Emphasizing the role of the data economy and the AI ​​economy, experts affirmed the importance of infrastructure. National data infrastructure plays a similar role to land or transportation in the traditional economy. Therefore, digital infrastructure is an essential foundation and needs strong investment. At the same time, the issue of national data sovereignty must be prioritized, because data today has strategic significance.

Based on that, experts have put forward several key policy pillars. Firstly, perfecting institutions and the legal framework with breakthroughs to suit the development of the digital economy.

Secondly, invest in strategic digital infrastructure, including large-scale data centers, AI factories, and national data infrastructure.

Tuesday, For data to truly create value, a strategy of opening and unlocking data is needed, transforming data into a marketable commodity.

Fourth, develop high-quality digital and AI human resources. Vietnam not only needs to meet domestic needs but also has the potential to become a hub for human resource supply for the region and the world.

Source: https://baoquocte.vn/kinh-te-so-se-la-tru-cot-moi-cua-nen-kinh-te-374441.html