Prime Minister Nguyen Xuan Phuc discusses with scientists and economists Vietnam's 10-year socio-economic development strategy until 2030

Wholehearted opinions

The socio-economic subcommittee set up to prepare for the congress that will convene in 2021 has been tasked with devising a socio-economic development strategy for 2021-2030 and plan for 2021-2025. In the next ten years, Vietnam will continue to boost international economic integration during the rapid development of the 4^th Industrial Revolution and fiercely competitive global trade. Despite having many advantages for growth, Vietnam faces a risk of being lagged behind, middle-income trap, and ineffective public governance. Experts say Vietnam should define spearheads and pillars to that will realize its strategy, increase the application of science and technology and take advantage of the 4^th Industrial Revolution to create momentum for national growth. Vietnam must achieve a growth rate of 7.5% during the next ten years to double its per capita income. Experts say the goal is achievable if Vietnam focuses on the right pillars. It will be important to develop high-tech agriculture in close connection with processing, establish agricultural-industrial clusters, and promote Vietnam’s coastal economy, tourism, and urban economy.

The experts stress the need to reform institutions to avoid overlaps in state management and strengthen the private sector.

Opinions appreciated

The Prime Minister said a feasible strategy will help Vietnam grow but Vietnam must narrow development gaps, a task which must be approached scientifically. He said more open, frank, and sincere dialogues with scientists and economists will be held to finalize the 10-year strategy which will inherit Vietnam’s achievements during the renewal process.

Mr. Phuc called for stronger efforts to make fundamental improvements by 2045 when Vietnam hopes to achieve a GDP of 2.5 trillion USD and a per capita income  of 18,000 USD.