 |
| Illustrative image__Photo: VNA |
National Assembly deputy Nguyen Quang Huan from Ho Chi Minh City has stressed the need for a radical and synchronized transformation in the growth model, economic restructuring, and effective promotion of new development driver while giving feedback to the draft Political Report to be submitted to the upcoming 14th National Party Congress.
The draft Political Report clearly defines the goals of striving for an average annual GDP growth of 10 percent or more during the 2026–2030 period, establishing a new growth model, restructuring the economy, and accelerating industrialization and modernization, with science and technology, innovation, and digital transformation as the main driving forces.
Huan stated that the achievements gained in the 2021–2025 period have laid an important foundation for fulfilling these goals.
Although there are still limitations, especially in workforce restructuring, improving labor productivity, and applying science and technology, this represents a “meaningful step” for the next term to continue to perfect them. Without the foundations in institutional frameworks, digital transformation, and science and technology established in the past term, the upcoming period will lack the basis for deeper restructuring, he analyzed.
Regarding the growth model for the upcoming period, Huan stated that the document has identified two key driving forces: science, technology, and digital transformation; and the private economy. These are two distinct yet closely interlinked factors: the productive forces and the economic components. When combined, they create a “development matrix” that drives productivity, innovation, and the expansion of the economy’s internal strength, the deputy said, noting that the linear growth model based on the three traditional pillars of public investment, resource exploitation, and the FDI sector has now reached its limits.
Meanwhile, the potential of the private sector remains substantial, as it currently contributes only about 55 percent of GDP. If this share reaches 60 percent by 2030, combined with strong domestic consumption and accelerated digital transformation, the economy will become less dependent on exports and more autonomous and sustainable.
Regarding the GDP growth target of 10 percent per year for the 2026–2030 period, Huan considered it an achievable goal if Vietnam successfully transitions to a green, circular, and digital economy. He emphasized that economic development and environmental protection are no longer separate goals but rather two parallel pillars working together toward sustainable growth.- (VNA/VLLF)
