According to the article "Tapping into Vietnam’s high-value growth ambition in 2026" on Vietnam Briefing, the context of the world facing many instabilities poses an urgent requirement for Vietnam to proactively restructure its economy, reduce dependence on external factors and improve internal capacity.
Restructuring development space
One of the notable steps is the rearrangement of provincial-level administrative units, reducing from 63 to 34, along with a two-level government model, streamlining the apparatus and improving operational efficiency.
This restructuring is not simply administrative, but aims to create new "development corridors", strengthen regional linkages and maximize the advantages of each region. The six newly defined socio-economic regions will play a pivotal role in the space development strategy.
Larger-scale localities are expected to have more initiative in policy planning, thereby promoting industrial and logistics development and attracting investment in a synchronous manner.
Ambitious growth target
Vietnam sets a target of average GDP growth of over 8% in the period 2021-2030, especially in the period 2026-2030 aiming for at least 10% per year. By 2030, average income per capita is expected to reach about 8,500 USD and continue to increase strongly in the long term.
To achieve this goal, Vietnam clearly identifies key industries such as electronics, digital technology, automobiles, railways, and shipbuilding. At the same time, gradually develop high-tech fields such as semiconductor, robotics, automation and artificial intelligence.
A notable goal is to make Vietnam the second largest e-commerce market in Southeast Asia by 2030, thereby promoting the transition to a knowledge economy.
Growth drivers by region and sector
Two important growth poles are clearly identified. The Red River Delta region continues to play a leading role, leading the transformation of the growth model towards innovation.
Meanwhile, the North Central region (Thanh Hoa - Nghe An - Ha Tinh) is oriented to become a heavy industry and energy center, with industries such as oil refining and petrochemicals, metallurgy, mechanics and automobile manufacturing.
In parallel, supporting industries are also being promoted. Transport infrastructure with the North-South high-speed railway project, international railway expansion and metro system in Hanoi and Ho Chi Minh City are expected to create a major boost.
In the energy sector, Vietnam promotes the development of renewable energy, while considering restarting nuclear power projects to ensure long-term energy security.
Digital infrastructure is also a priority, with the expansion of fiber optic networks, deployment of 5G, towards 6G and building a national data center.
The new development strategy puts the private economic sector at the center. Preferential policies are designed according to 4 main pillars, aiming to remove barriers and promote business development. The government aims to cut 30% of administrative procedures and compliance costs, while limiting overlapping inspections - each business is only inspected at most once a year if there are no signs of violation.
Opportunities and challenges intertwine
According to the article, strong reforms show Vietnam's determination to transform the growth model. However, challenges still exist as the international environment is volatile and competition to attract investment is increasingly fierce.
In that context, effectively taking advantage of new policies, improving business capacity and ensuring consistency in implementation will be decisive factors. 2026 is therefore not only a milestone, but also a test for Vietnam's ambition to rise in the global value chain.
