At the workshop (Photo: VNA) Hanoi (VNA) – Deputy Prime Minister Vuong Dinh Hue highlighted theclose links between growth models and economic restructuring during a seminarin Hanoi on March 20.
The seminar on Vietnam’s economic growth model for 2021-2030 with a visiontowards 2045 was jointly held by the Vietnam Academy of Social Sciences (VASS),the PM’s Economic Advisory Group, the Ho Chi Minh National Academy of Politics,the World Bank, and the Australian Embassy in Vietnam.
Attention should be paid to macro factors and restructuring focuses during theprocess of policy planning, Hue said.
The official said that at the 11th National Party Congress in 2011, the growthmodel was expanded in scale, with importance placed on growth, quality andefficiency. Meanwhile, at the 12th National Party Congress in 2016, the growthmodel was set towards both quality and quantity, focusing on in-depthdevelopment and sustainability.
Prof. Dr. Nguyen Quang Thuan, VASS President, also pointed out positiveeconomic changes over the past three years, with a rapid increase in the numberof equitised State-owned enterprises (SOE) and more firms divesting capitalfrom unnecessary sectors.
He stressed progress made in the restructuring of SOEs,the banking sector and public investment.
The Fourth Industrial Revolution and international economic integration throughnew-generation free trade agreements have generated both opportunities andchallenges for Vietnam’s economic growth model. How to optimise theopportunities and ease the challenges to promote economic growth model reformtowards higher quality for 2021-2030 with a vision towards 2045 has drawn the attentionof scientists, researchers and policymakers, he said.
Associate Prof. Dr. Bui Thang Tuan, head of the Vietnam Institute of Economics,said that although Vietnam’s economy is growing at a high rate of 6.3 percent,the country has failed to reach the annual target of 7-8 percent set under the2011-2020 strategy.
He, therefore, proposed shifting the growth model towards quality, changing theratio of resources contributing to the growth, prioritising science-technologyand innovation, and utilising opportunities offered by the Fourth IndustrialRevolution and the national golden population structure to make rapid andquality growth.-VNA
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