Hanoi (VNA) - Vietnam is on the threshold of becoming a developed nation, Deputy Prime Minister Ho Duc Phoc has said, stressing the importance of renewing the growth model, fostering new drivers of growth, and building a resilient, sustainable economy capable of withstanding global fluctuations.
Speaking at the Vietnam New Economy Forum (VNEF) 2025 on October 2, the Deputy PM noted that the Politburo has recently issued four crucial resolutions which lay the foundation and driving force for national development. These serve as a compass for Vietnam in the new era of transformation, aiming to build a fast-growing, independent, self-reliant, and innovative economy that proactively engages in deep international integration.
To realise this vision, he underlined, Vietnam must secure raw material supplies, master technology, develop high-quality human resources, and diversify markets. More importantly, the country must firmly embed itself into global value chains, adopt modern governance models, and make effective use of domestic potential and resources.
Given the fast-changing and complex global landscape, he said, it is essential for Vietnam to strengthen integration, harness internal strengths, and enhance its role and value within global value chains to consolidate the economy’s resilience.
The Deputy PM also expressed hope for candid, objective, and insightful recommendations from experts, scholars, and policymakers at home and abroad to help improve the State’s mechanisms, policies, and solutions in a practical and effective way.
Nguyen Thanh Nghi, Head of the Party Central Committee’s Policy and Strategy Commission, stressed that after nearly 40 years of “Doi moi” (Renewal), Vietnam has made historic achievements, becoming a dynamic economy while improving people’s material and spiritual lives. To meet future development requirements and achieve strategic goals, he said, it is necessary to build a new growth model based on knowledge, science and technology, and innovation.
He proposed that the forum focus discussions on refreshing traditional growth drivers; enhancing the efficiency of exports, public investment, and selective FDI attraction; expanding the domestic market; and identifying solutions to create new growth momentum.
VNEF 2025 centred on three main topics: the new economic context and its urgent requirements; renewing the export growth model and Vietnam’s position in global value chains; and strengthening internal capacity while fostering linkages between economic sectors and business communities./.
