Prime Minister: Double-digit growth is well-founded, has room for growth, and is feasible.

On the afternoon of December 16, Prime Minister Pham Minh Chinh chaired the high-level plenary session of the Vietnam Economic Forum 2025, Outlook 2026 (VEPF) with the theme "Vietnam's economy develops rapidly, sustainably, and undergoes a green transformation in the digital age".

Prime Minister Pham Minh Chinh - Photo: NHAT BAC

Speaking at the forum, Prime Minister Pham Minh Chinh affirmed the inevitable and irreversible trend of green transformation in the digital age. Vietnam clearly identifies "dual transformation: greening and digitalization" as an objective requirement, a strategic choice, and a priority for investment and development.

Challenges for the economy

This serves as both a foundation and a driving force for the rapid and sustainable development of the country as a whole and the economy in particular. The Party, State, and Government of Vietnam have always paid special attention to and issued many policies and mechanisms to promote rapid and sustainable development based on the foundation of "dual transformation: greening and digitalization".

Assessing the socio-economic landscape of the country in 2025 as predominantly bright, the Prime Minister pointed out that the Vietnamese economy has demonstrated resilience and achieved a growth rate among the highest in the region and the world, i.e., above 8%. Macroeconomic stability has been maintained, inflation has been controlled, major balances have been ensured, and self-reliance has been the primary focus.

Three strategic breakthroughs will be implemented decisively and effectively, with a focus on open institutions, seamless infrastructure, and smart governance. The digital economy's share of GDP is projected to reach approximately 20% by 2025. Vietnam's global innovation index is expected to rank 44th out of 139 countries and territories by 2025.

Simultaneously, decisively and effectively implement the restructuring and streamlining of the local government apparatus at both levels, coupled with promoting decentralization, delegation of power, resource allocation, and strengthening supervision, inspection, and administrative procedure reform.

However, the challenges will be even greater in 2026, with the situation becoming more complex and unpredictable. Weaknesses identified include risks from the global situation, given the economic openness of approximately 1.7-1.8 times compared to the economy as a whole. The quality of growth remains limited, relying on labor-intensive, cheap resources and capital. Investment efficiency is still low (the ICOR index remains high).

Science and technology, and innovation have not yet truly become the driving force of growth; they need time to become more effective. Institutions and policies still have obstacles and need further improvement to address institutional bottlenecks. Meanwhile, Vietnam remains one of the countries most affected by natural disasters and climate change, with economic losses estimated at around 100,000 billion VND.

Therefore, the head of government believes that to become a high-income developed country, it is necessary to rely on science and technology, innovation, digital transformation, and green transformation. The dual transformation of greening and digitalization is an objective requirement, a strategic choice, and a priority investment to achieve the two centenary goals – with 2045 being a developed, high-income country.

Stability must be an impenetrable fortress.

The Prime Minister affirmed the viewpoint: Stability must be an impenetrable fortress. Rapid and sustainable development is an unstoppable, eternal engine. The prosperity, freedom, well-being, and happiness of the people are the highest and ultimate goals. Progress, fairness, and the environment will not be sacrificed in pursuit of mere growth.

The key is the double transformation: greening and digitalization.

Accordingly, the Prime Minister emphasized that the solutions are to promote rapid and sustainable development based on the dual transformation of greening and digitalization, striving for double-digit growth while maintaining macroeconomic stability. He stressed the need to accelerate strategic breakthroughs in institutions (creating a more open and transparent system), human resources, and infrastructure (ensuring smooth operation) to transform institutional bottlenecks into national competitiveness.

Reducing compliance costs, decentralization, and delegation of authority go hand in hand with resource allocation and enhanced enforcement capacity, all built upon the foundation of a proactive state, pioneering enterprises, public-private partnerships, national development, and people's happiness.

Renew traditional growth drivers (investment, exports, consumption) while promoting new growth drivers related to digital transformation, green transformation, knowledge economy, circular economy, and creative economy. Build and operate international financial centers, free trade centers, and cross-border economic zones. Develop nuclear energy, high-speed rail, and make good use of new development spaces.

Diversify forms of resource mobilization, with public and private sectors working together. Prioritize attracting selective FDI to continue restructuring exports in conjunction with restructuring the economy. Focus on valuing intellectual capital, fostering creativity, science and technology, and selecting appropriate priorities.

"Double-digit growth for Vietnam is well-founded, has room for growth, and is feasible. This requires a very high level of political determination, tremendous effort, and decisive action from the Vietnamese nation," the Prime Minister emphasized.

NGOC AN

Source: https://tuoitre.vn/thu-tuong-tang-truong-hai-con-so-la-co-nen-tang-co-du-dia-va-kha-thi-20251216193404179.htm