WB: High-tech human resources will determine Vietnam's goals

(Chinhphu.vn) - Vietnam maintains strong growth momentum in 2025, expected to reach 6.6%. The World Bank warns of challenges from global trade and emphasizes the importance of developing high-tech talent, considering it the key to maintaining long-term and sustainable growth.

Experts discuss at the announcement ceremony of the latest Vietnam Economic Update Report of the WB - Photo: VGP/HT

Economy accelerates, faces global trade challenges

On September 8, the latest Vietnam Economic Update Report released by the World Bank (WB) affirmed that Vietnam's economy continues to be resilient with a forecast growth rate of 6.6% in 2025. This figure was achieved after the first half of the year accelerated strongly to 7.5%, outperforming many economies in the region.

According to the World Bank, the growth momentum mainly came from the early recovery of exports, boosting industrial production and related services. The manufacturing sector, along with transport and logistics, contributed significantly to GDP growth. Improved labor market conditions contributed to increased income and increased domestic purchasing power.

However, the World Bank warned that growth will slow in the second half of the year as exports return to normal levels. As an export-oriented economy, Vietnam is directly affected by the decline in global demand and the uncertain international trade outlook. Policy tensions and international trade fluctuations can affect consumer and business confidence.

The World Bank forecasts that in the medium term, growth will reach 6.1% in 2026 due to weakening global trade, before recovering to 6.5% in 2027 as international markets pick up. Vietnam continues to maintain its advantage as a competitive manufacturing destination in the global value chain.

Ms. Mariam J. Sherman, World Bank Country Director for Vietnam, Cambodia and Laos, shared information at the announcement ceremony - Photo: VGP/HT

Public investment and structural reform: medium-term drivers

The World Bank report stressed that Vietnam needs to increase public investment and accelerate reforms to minimize external risks. With a low public debt ratio, Vietnam has ample fiscal space to implement large-scale infrastructure projects while creating more jobs.

Mariam J. Sherman, World Bank Country Director for Vietnam, Cambodia and Laos, said: If implemented effectively, public investment will address infrastructure gaps and create jobs. At the same time, it is necessary to strengthen essential services, build a green economy, develop human capital and diversify trade. These are key factors to help Vietnam maintain long-term growth.

Fiscal policy from the beginning of 2025 towards flexible expansion through public investment has been implemented at both central and local levels. Large infrastructure projects on transport and energy have been initiated, although their effectiveness for growth will take time to materialize.

In parallel, loose monetary policy, with real interest rates close to zero, has helped contain exchange rate pressure and support credit. The State Bank has maintained intervention to stabilize the foreign exchange market, while promoting credit towards production, business and people's lives.

However, the World Bank warned that challenges from the global economy could affect the outlook. Therefore, it is necessary to strengthen resilience through structural reforms, strengthening financial supervision and improving the business environment.

At the regular Government meeting in August 2025, the Government leaders requested to implement a proactive and flexible monetary policy, closely coordinated with a reasonable expansionary fiscal policy. The focus is on controlling exchange rates, stabilizing interest rates, and reducing borrowing costs for people and businesses. At the same time, strictly manage gold and USD, promptly report for handling when necessary. Credit growth is oriented towards production - business and improving people's lives, avoiding speculation. Along with that, the Government requested to strengthen inspection and control of banking activities to ensure that capital flows are used for the right purposes.

A particular focus of the report is titled "Accelerating the development of Vietnam's high-tech talent" is to affirm the decisive role of high-quality human resources in supporting the innovation ecosystem.

According to the World Bank, to realize its ambition of becoming a high-income country by 2045, Vietnam not only needs an increasingly large number of STEM graduates but also a core group of experts capable of researching, leading and commercializing products.

The report emphasizes the need to increase spending on research and development (R&D). Currently, Vietnam’s R&D spending is still low compared to many countries in the region. Expanding the team of doctoral lecturers, increasing the number of people with postgraduate qualifications, combined with close links between universities, businesses and the state will be the foundation to promote innovation.

At the same time, promoting technology transfer, enhancing the integration of private enterprises into global value chains and encouraging technology application will contribute to improving productivity and creating long-term competitive advantages.

Mr. Minh

Source: https://baochinhphu.vn/wb-nhan-luc-cong-nghe-cao-se-quyet-dinh-muc-tieu-cua-viet-nam-102250908190527381.htm