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Official Gazette

Tuesday, January 31, 2023

Industrialization and modernization is the way forward for Vietnam: official

Updated: 21:00’ - 08/12/2022
In an interview with Vietnam News Agency on the sidelines of a national conference discussing the resolutions adopted at the sixth plenum of the 13th Party Central Committee, Politburo member and head of the Party Central Committee's Economic Commission Tran Tuan Anh talks about the Party’s policies and directions to accelerate the country’s industrialization and modernization.
 
On November 17, 2022, the Central Committee of the Communist Party of Vietnam issued the Resolution 29-NQ/TW on the acceleration of the national industrialization and modernization to 2030 with a vision to 2045. This is the first thematic resolution of the Party on this task. What is the meaning and importance of the resolution?
 
The promulgation of the resolution is essential and of great significance.
 
Firstly, industrialization and modernization is one of the central and cross-cutting tasks of the whole political system. They are also the means and motivation to achieve the goal of rapid and sustainable development of the country.
 
It can be seen that most countries in the world that strive to become a developed, high-income country, would carry out the process of industrialization and modernization.
 
Secondly, industrialization and modernization have been raised in many terms of the Party Congress. There have been about 20 resolutions promulgating a number of important guidelines related to industrialization and modernization. Resolution 29-NQ/TW is the first thematic resolution on this issue. The current regional and international context with rapid, unpredictable and complex developments along with the impacts of the Fourth Industrial Revolution also require us to have a new resolution that is more comprehensive to accelerate the industrialization and modernization.
 
There is room to improve and limitations that need to be addressed. They include slowed economic growth, middle-income trap risks, weak internal strength of the economy, slowly improved labor productivity. In addition, the key service industry accounts for a modest proportion of the economy, the linkages between manufacturing sectors are weak and urbanization is not on par with industrialization and modernization. There are also shortcomings in cultural, human, environmental issues.
 
The resolution will be a guiding principle to specify the policies of the Party in socio-economic development. It is also an important political foundation in orienting new thoughts, policies, tasks and solutions to create a driving force for industrialization and modernization of the country.
 
 
Politburo member and head of the Party Central Committee's Economic Commission Tran Tuan Anh speaks at a national conference on the resolutions adopted at the sixth plenum of the 13th Party Central Committee__Photo: VNA

 
How are the Party’s points of view about the acceleration of industrialization and modernization reflected in the resolution?
 
There are five main points that reflect clear points of view and directions to accelerate national industrialization and modernization.
 
Firstly, industrialization and modernization is viewed as a foundational and comprehensive transformation of the economy and social life based mainly on the development of industry and services on the basis of science, technology, innovation and creativity.
 
Here, the role and significance of industrialization and modernization in the country’s socio-economic development are also reflected. It is viewed as the “central task of the nation’s socio-economic development strategy; its building of an independent, self-reliant and proactive economy that actively integrates into the world, develops rapidly and sustainably; and its goal to become a developed, high-income country”.
 
The second notable point is the Party’s consistent view of the acceleration of industrialization and modernization as the task of the whole people and the whole political system. And this task also takes into account the need to ensure harmony between economic development and social progress and justice, and environmental protection. Industrialization and modernization must also go with urbanization, new styled rural development, growth model reform, and economic and labor restructuring.
 
The third notable content is the task to exploit and bring into full play all the potentials and advantages of the country, each region and locality as well as the advantages of the economy during and post-golden population. It also mentioned the task to rapidly shift from outsourcing and assembly to producing, processing, designing and manufacturing in Vietnam while focusing on developing some specific services that are more knowledge and technology-intensive.
 
It also views digital transformation as a breakthrough method to shorten the process of industrialization and modernization. In addition, industrialization and modernization in agriculture and rural areas is one of the top priority tasks.
 
Ford Vietnam factory in the northern Hai Duong Province. FDI enterprises are considered the “driving force” for industrialization and modernization in Vietnam__Photo: VNA

The fourth point of view emphasized that it is important to identify areas of focus, and key fields and industries for priority in the roadmap.
 
It also supplements and solidifies the Party's theoretical thinking on the subjects and resources for implementing industrialization and modernization. Accordingly, the domestic resources are considered the basic, strategic, long-term and driving factor. External resources are an important and breakthrough element, and domestic enterprises (including State-owned and private enterprises) are the key while FDI enterprises are the driving force for industrialization and modernization.
 
Lastly, it highlights the task to ensure macro-economic stability; actively integrate into the international economy; to nourish development aspirations, national entrepreneurship and innovation; to promote both traditional and modern cultural values, the bravery and intelligence of Vietnamese people as well as the pioneering role of Vietnamese intellectuals and entrepreneurs.- (VNS/VLLF)
 

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