Keyword: "growth model"

Experts said an efficient data market will ensure that data flows to sectors where it generates the greatest economic value, thereby improving the economy's overall efficiency.

Prime Minister Le Minh Hung on July 14 urged Phu Tho province to change its development mindset by prioritising high value added and high-tech investment while rejecting labour-intensive, outdated and environmentally harmful projects, to turn the northern locality into an industrial powerhouse of the country.

To achieve this year's targets, the Government leader called on the provincial Party Committee to renew its mindset, leadership and governance methods, remain focused on development goals, and maximise the province's untapped potential and competitive advantages.

Public resources must lead and activate private resources, while public investment should stimulate broader social investment. FDI, meanwhile, should move from quantity-based attraction toward quality-based absorption linked with technology transfer and stronger domestic linkages, said top leader To Lam.

With a solid foundation, ongoing institutional reforms and strong investment in science and technology capacity, Ho Chi Minh City is steadily advancing toward its goal of becoming a leading regional hub for science, technology and innovation.

Dr. Ly Dai Hung from the Institute of Vietnam and World Economy under the Vietnam Academy of Social Sciences (VASS) described Resolution 68 as a key policy framework to mobilise and allocate resources more effectively.

High economic growth must be anchored in macroeconomic stability and major economic balances, the PM said, adding that fast growth must be sustainable and tied to social progress and equity, environment protection and higher living standards.

Party leader To Lam reaffirmed that science, technology, innovation and digital transformation must be clearly identified as the primary drivers of the new development and growth models, and as the most fundamental factors for achieving long-term double-digit growth.

The two sides explored in depth the Party’s role in leadership, orientation, oversight and strategic coordination in economic management; approaches to implementing economic restructuring programmes alongside the renewal of the growth model; measures to respond to global economic volatility, inflationary pressures and shifts in global trade; and the building of effective strategic advisory bodies to ensure the Party’s comprehensive leadership in a changing context.

An official has stressed the need to establish a new growth model that harmonises traditional growth drivers—investment, exports and labour—with new ones such as the digital economy, green economy, knowledge-based economy and circular economy.

Without quick improvements in investment and human resources quality, Vietnam risks falling behind when the Fourth Industrial Revolution and green transition become standards for global development, said an expert from the University of Economics.

General Secretary of the Communist Party of Vietnam Central Committee and State President To Lam received Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva in New York on September 24.

Vietnam must continue to innovate its growth model by focusing on high technology, supporting innovative startups, and transitioning to a green economy, according to experts.

Prime Minister Pham Minh Chinh on August 17 asked the Red River Delta region to take a pioneering role in innovation, and the utilisation of science-technology and results of the fourth industrial revolution.

The agricultural sector should make concerted efforts to remove market bottlenecks and develop brands for agro-forestry-fishery products in the international markets, a Party official said on June 14.

Digital applications to visualise material cycles and their roles to boost circular economy in Vietnam were spotlighted at a programme held in Hanoi on January 24.

In the current economic context, innovating the growth model is an urgent requirement from both micro and macro angles, heard a business forum held in Ho Chi Minh City on August 17.

Hanoi (VNA) - Along with renovating its growth model towards sustainability, Vietnam is constantly updating strategies, plans and programmes towards a green, low-carbon and circular economy with sustainable development.

Vietnam needs to speed up transformation towards an efficiency and innovation-driven growth model to meet requirements of sustainable and inclusive development, experts have said.

New regulations in the draft Law on Insurance Business (amended) will help businesses reduce costs and take the initiative in business activities thanks to simplified administrative procedures.