Minister of Planning and Investment Nguyen Chi Dung presents a report on economic restructuring plan for the period of 2021-2025. (Photo: baochinhphu.vn)

The plan identifies institutional perfection, digital transformation and innovation as a breakthrough and the key tasks of promoting economic restructuring, urban economy, regional and urban-rural links, and the leading role of key economic regions and big cities in growth model reform.

According to the plan, the overall goal is to create a vivid change in the growth model towards increased productivity, quality, competitiveness, efficiency of resource use, autonomy and adaptability of the economy, moving towards an economy based on science-technology and innovation, ensuring fast, sustainable and harmonious development, forming a rational economic space structure, and improving the internal strength of the Vietnamese economy and enterprises.

The economic restructuring plan for the period 2021-2025 sets out many specific goals and targets, such as narrowing the national competitiveness gap with countries in the ASEAN-4 group, especially in terms of institutions, infrastructure, and human resources. Other goals are at least 5 to 10 of the national products to be branded in the international market, digital economy to account for 20% of GDP, and the proportion of the digital economy in every sector must reach at least 10%.