Vietnam strives for GDP growth of 10% or more by 2026

Thạch Lam |

The National Assembly has passed a Resolution on the socio-economic development plan for 2026, in which the GDP growth target of 10% or more is determined.

Recently, the National Assembly passed a Resolution on the socio-economic development plan for 2026. The Resolution identifies 15 key targets, including GDP growth of 10% or more, a challenging figure but assessed by many delegates as well-founded, as the legal and policy foundation has been strongly consolidated through recent sessions.

Not only setting high goals, the resolution also provides synchronous solutions: Maintaining macroeconomic stability, controlling inflation, closely coordinating fiscal and monetary policies, while accelerating public investment disbursement, especially in key national projects.

According to Dr. Bui Sy Loi - former Deputy Head of the National Assembly's Committee on Culture and Society - double-digit growth is the most aspirational goal of our Party and State. But this goal is only sustainable when supported by a solid social foundation, which is the will of the Party and the people.

Dr. Bui Sy Loi suggested that the core issue is to link rapid growth with inclusive development and take people as the center, ensuring progress and social justice in each policy.

Why are we like that? Because the inevitable trend of our new era today is green, creative and humane growth, in which the quality of human resources and digital technology and digital society determine the resilience of an economy. Therefore, if we want to achieve double-digit growth, we must develop inclusive" - Dr. Bui Sy Loi analyzed.

Dr. Bui Sy Loi hopes that in the coming time, the Government will continue to shift the mindset from management to creation and development. This is one of the most outstanding directives of the Government in the 2021-2025 term.

At the same time, Dr. Bui Sy Loi also hopes that the Prime Minister will continue to direct in the most outstanding direction of the last term, which is to do your best, not endless, do for the people, not for yourself. "If we continue this goal, it will arouse the strength of the nation and the possibility of achieving the double-digit goal is feasible" - Dr. Bui Sy Loi affirmed.

According to the Permanent Representative of the United Nations Development Program (UNDP) in Vietnam, Ms. Ramla Khalidi - Vietnam has a very clear system of resolutions, policy orientation and strategy. Now, the key task is to move to a flexible, adaptive, agile implementation phase and encourage innovation.

Ms. Ramla Khalidi believes that first, improving labor productivity is a key factor. Second, increasing the added value of exports, ensuring that Vietnam can participate more deeply in global value chains with higher value industrial products.

Third, it is necessary to focus on the quality of foreign direct investment (FDI) - not only attracting FDI, but also ensuring that FDI brings spillover value, supporting the development of domestic markets and domestic enterprises.

Fourth, prepare the Vietnamese workforce for transformation processes especially energy transition and digital transformation. It is necessary to ensure that those who may lose their jobs during this process are retrained and have new skills to participate in emerging careers.

Ms. Ramla Khalidi emphasized that to achieve the "ambitious" goals from now until 2050 - net zero emissions and double-digit economic growth, Vietnam will not only depend on the economy, but also have to rely on strong, effective strategic governance capacity and a focus on sustainable development.

Thạch Lam
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