Capital for double-digit growth: Resource mobilization and allocation must be truly effective.

Deputy Governor Pham Thanh Ha

Speaking at the Vietnam Economic Forum 2025, Outlook 2026, themed “Mobilizing and effectively utilizing financial resources for economic growth targets in the 2026-2030 period,” held on the morning of December 16th, Deputy Governor of the State Bank of Vietnam Pham Thanh Ha emphasized that the Party and State have set a growth target of 8% or more in 2025 and double-digit growth in the 2026-2030 period, aiming towards becoming an upper-middle-income country by 2030 and a high-income country by 2045. These are strategic goals, reflecting the determination, will, and aspirations for development of the Vietnamese nation in the new era.

To realize that aspiration, according to Deputy Governor Pham Thanh Ha, the urgent requirement is for Vietnam to achieve consistently high, stable, and sustainable economic growth in the coming development period. In particular, the goal of double-digit growth is extremely important, creating a solid foundation for rapidly narrowing the gap with more developed countries; combined with enhancing self-reliance and the effectiveness of economic integration, thereby affirming Vietnam's position on the international stage.

In 2025, several important resolutions were issued, laying the foundation for promoting new growth drivers, especially the "Four Pillars": Resolution 57 on breakthroughs in science and technology, innovation, and digital transformation; Resolution 59 on international integration; Resolution 66 on reforming the drafting and implementation of laws; and Resolution 68 on the development of the private economy. These are the "policy pillars" focusing on strategic breakthroughs, creating strong momentum to propel our country forward in the new era. Based on this, it has mobilized the synchronized and creative participation of the entire political system, along with the substantive involvement of businesses, citizens, and intellectuals.

Despite the unstable and complex global economic landscape, economic and political shocks, and climate change, which have had an unfavorable impact on the country's economy, according to the Deputy Governor, with a thorough understanding of the Party and State's guiding principles and development orientations, many new mechanisms and policies have been implemented, key national projects have been launched, and resources in terms of capital and human capital have been prioritized.

In this context, mobilizing sufficient capital resources to meet practical requirements and promote the economy's operation according to a new growth model based on science, technology, and innovation is one of the crucial tasks that has a decisive impact on achieving the set "double-digit" growth target.

Therefore, a sufficiently strong policy framework, along with solutions to improve the efficiency of capital allocation based on market signals, will be the foundation for the economy to transition to a new growth model based on productivity, technology, and innovation. The thematic discussion on finance and banking focused on clarifying three major groups of issues.

Firstly, forecast the capital requirements and the ability to mobilize resources to support high growth during the period 2026-2030.

Secondly, the policy direction for bank credit and capital market development should create space for growth drivers such as the private sector, the digital economy, and the circular economy.

Thirdly, consult on policy proposals and recommendations aimed at enhancing the role of the financial and banking system in effectively mobilizing and allocating domestic and foreign resources.

The Deputy Governor expects that the contributions at the Forum will be an important addition to the policy-making process and practical solutions, especially in better promoting the role of the financial and banking system - the lifeblood of capital transmission in the economy - to accompany and contribute to helping our economy achieve the great development goals set out in the era of the nation's aspiration for strength and prosperity.

Source: https://baodautu.vn/von-cho-tang-truong-2-con-so-huy-dong-va-phan-bo-nguon-luc-phai-that-hieu-qua-d461000.html