Speaking at the Vietnam Economic Growth Forum 2025, Deputy Prime Minister Nguyen Chi Dung analyzed major trends of the current world and regional economy, and proposed seven key solutions to resolve difficulties and challenges, and renew growth drivers - Photo: VGP/Thu Sa
Also participating in the program were Secretary of the Party Central Committee, Head of the Central Strategy and Policy Commission Tran Luu Quang; leaders of central and local departments, ministries, branches; domestic and international business communities, experts and scientists .
The Vietnam Economic Growth Forum 2025 is of special significance, a place to gather the intelligence, aspirations and determination of leaders, experts, scientists, business communities, domestic and international investors to share, exchange, discuss to analyze and evaluate the situation and development trends.
Thereby, finding directions, tasks and solutions to resolve difficulties and challenges, taking advantages of opportunities, adapting to new trends, promoting strategic breakthroughs, maintaining the goal of high and sustainable economic growth for the country in the coming time.
Fundamental change in economic structure
Emphasizing that the regional and global situation continues to evolve very rapidly, very complicatedly and unpredictably, Deputy Prime Minister Nguyen Chi Dung analyzed a number of major trends. These are: Challenges from uncertainty as geopolitical and geo-economic shocks and fluctuations become more frequent and multi-dimensional; Science and technology are fundamentally changing the structure of the economy and reshaping global value chains and supply chains; the impact of economic separation and fragmentation; declining trust stemming from strategic competition is limiting the role of multilateral cooperation mechanisms; the rise of nationalism; the emergence of many factors that hinder the trend of sustainable and inclusive development; non-traditional security challenges.
In Vietnam, after nearly 40 years of implementing the Doi Moi process, from a backward and underdeveloped economy, our country has now risen to become the 32nd largest economy in the world, among the top 20 countries in terms of trade scale and FDI attraction. GDP per capita in 2024 will reach more than 4,700 USD, approaching the upper middle-income threshold.
Vietnam has become a model of healing and rising up after the war with open, comprehensive foreign relations and deep, substantive, and effective international integration, and is an active and responsible member of the international community.
However, the Deputy Prime Minister also pointed out that, with a highly open economy, Vietnam is being strongly affected by the increasingly complex international context, intertwined with internal challenges of the domestic economy.
"Vietnam has determined that if it wants to grow quickly and sustainably, it must have a new mindset, a new vision, a new attitude, and at the same time must act decisively, carry out strong reforms, with the highest political determination, the strongest solidarity of the entire nation, and must have the companionship and support of international friends," the Deputy Prime Minister affirmed.
The Deputy Prime Minister emphasized: If Vietnam wants to grow quickly and sustainably, it must have a new mindset, a new vision, a new mindset; must act decisively, carry out strong reforms, with the highest political determination, the strongest solidarity of the entire nation and the support of international friends - Photo: VGP/Thu Sa
'Unlocking' development resources
To resolve difficulties and challenges and renew growth drivers in the new development stage, Deputy Prime Minister Nguyen Chi Dung proposed a number of key tasks and solutions.
First, we must continue to improve institutions, innovate the work of building and enforcing laws towards transparency, stability and approaching international standards. In recent times, our country has focused on resolving a number of institutional "bottlenecks", enhancing decentralization, decentralization, reforming administrative procedures, and clearly defining the authority between authorities at all levels in many areas in line with the revolution in organizational apparatus.
The Deputy Prime Minister said that it is necessary to continue reviewing and perfecting the legal system in key areas such as land, minerals, planning, etc. At the same time, priority should be given to immediately remove difficulties and obstacles of more than 2,887 projects with a capital scale of more than 235 billion USD and a land area of about 347,000 hectares to unlock resources for development.
In addition, mobilize all social resources for development investment, using public investment as "lead" and "seed capital" to mobilize investment from the non-state economic sector. In particular, focus on developing a synchronous and modern infrastructure system; strive to soon complete key national infrastructure projects; synchronize and diversify types of power sources with a reasonable structure, ensure system safety and reasonable prices; develop renewable energy sources, new energy, clean energy suitable to the conditions and level of economic development in each period.
Along with that, it is necessary to take advantage of and promote the advantages of new development space from the results of merging and consolidating localities and the 2-level local government model; Exploiting the maximum potential from new growth drivers, creating breakthroughs in developing fields such as science and technology, innovation and digital transformation, semiconductors, AI, quantum... along with new economic models such as free trade zones, financial centers... associated with the development of high-quality human resources and talent networks at home and abroad.
"Identifying these as the main driving forces to restructure the economy, establish a new growth model, promote rapid and sustainable development based on science and technology, innovation and digital transformation, creating qualitative changes in the new development stage", the Deputy Prime Minister directed and noted the need to support the development and connection of economic sectors, including: private economy, state economy and FDI sector to create "combined strength" for the country's economic development.
Along with focusing on attracting key investment projects in strategic sectors with large capital scale, capable of creating breakthroughs and economic spillover effects, the Deputy Prime Minister also proposed promoting international integration in the new situation. In which, internal resources must be placed in a decision position; external resources are additional resources, supporting the development process, ensuring comprehensive and deep integration while maintaining independence and autonomy, enhancing self-reliance and adaptability to all global fluctuations.
To soon realize the aspiration of a prosperous and powerful Vietnam, the Deputy Prime Minister on investors and localities to call and join hands with the Government, ministries and branches to successfully implement the country's socio-economic development goals, and together build the country into a safe and attractive destination, a center of production, services and innovation in the region and the world.
"With the spirit of solidarity, self-reliance, and aspiration of the entire nation; with the correct leadership of the Party, the flexible and effective management of the Government; the synchronous participation of the entire political system, the joint efforts and consensus of the business community, localities and people nationally, we will successfully achieve the country's development goals, bring Vietnam to make a strong breakthrough, rise up in the new era, affirm the country's position and prestige in the international arena," Deputy Prime Minister Nguyen Chi Dung said.
Thu Sa
Source: https://baochinhphu.vn/pho-thu-tuong-nguyen-chi-dung-luan-ban-ve-giai-phap-thuc-day-tang-truong- Kinh-te-cao-va-ben-vung-102250708153217027.htm
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