Hanoi, December 11, 2025 – The Europe Today: Policymakers, economists and development experts convened in Hànội on Wednesday for a high-level scientific workshop focused on shaping a new growth model for Việtnam for the 2026–2030 period, amid growing consensus that the country must accelerate structural reforms to sustain long-term development.
Organised by the Institute of Strategy and Policy on Finance under the Ministry of Finance, the event highlighted Việt Nam’s strong macroeconomic stability since 2021 as an important foundation for the next phase of reform. Participants, however, cautioned that the traditional growth model — reliant on low-cost labour, resource exploitation and capital-intensive expansion — is no longer sufficient to ensure sustainable progress.
Experts described the next five years as a “critical window” that will decisively influence Việt Nam’s development trajectory. They stressed that the country must transition quickly toward an innovation-led, technology-based and green growth model to maintain competitiveness in an increasingly complex global environment.
Call for Innovation-Driven Growth
According to Nguyễn Quốc Anh, Deputy Director of the Institute of Strategy and Policy on Finance, Việt Nam needs a transformative growth model anchored in innovation, technological advancement and green transition to achieve double-digit GDP growth by 2030 and attain high-income status by 2045.
Escaping the middle-income trap, he noted, requires an ambitious and strategic shift consistent with national development aspirations. Setting a double-digit growth target, he said, is not merely aspirational but essential.
Anh outlined three strategic priorities:
- Transition from extensive to intensive growth, with total factor productivity (TFP) becoming the core metric of economic performance. Productivity gains through technological adoption, upgraded workforce skills and modern management practices will be crucial.
- Comprehensive restructuring of the economy to address institutional, infrastructural and human capital bottlenecks. He emphasised the importance of developing digital, green and circular economy models, fostering innovation hubs, and treating semiconductor development, renewable energy and low-carbon industries as strategic imperatives.
- Establishing clear, measurable indicators to track progress, including the digital economy’s share of GDP, labour productivity, TFP contributions and the pace of technological upgrading across enterprises.
Anh also underscored the pivotal role of the private sector, stressing that leading domestic firms with strong knowledge capacity, advanced governance systems and global competitiveness must drive breakthroughs to elevate the economy. Policies, he said, should ensure fair competition and direct investment toward high-tech and green sectors.
He further noted that the State must play an enabling role by improving institutional frameworks, removing barriers to growth and mobilising resources for strategic infrastructure, including logistics networks, clean energy and national digital platforms. Enhanced international cooperation and stronger technology transfer mechanisms will also be essential.
Restructuring for Sustainable Development
Delegates agreed that Việt Nam must move decisively from its traditional growth model — heavily dependent on capital, low-cost labour and natural resources — to one centred on technology, productivity and sustainability. This transition, they said, is crucial for overcoming persistent challenges such as low productivity, bad debts and environmental pressures.
In public investment management, BIDV Chief Economist Cấn Văn Lực recommended developing a more balanced financial market, strengthening international cooperation and diversifying capital mobilization channels. He also called for further reform of the Vietnam Development Bank, improved forecasting and risk monitoring, greater financial transparency and enhanced data quality for more efficient public investment.
Former CIEM President Lê Xuân Ba emphasised revamping the education and training system by shifting from passive to active learning. He highlighted the need for stronger links between theory and practice, closer alignment with labour market requirements and greater autonomy for public training institutions, particularly universities and vocational schools.
Global Perspectives and Future Outlook
Providing an international view, Võ Trí Thành, Director of the Institute for Brand and Competitiveness Strategy, said global growth-model transformation is being shaped by trends such as sustainable and inclusive development, green transition and deeper integration between the digital and real economies. He stressed that continued reform of financial policies will be crucial to driving innovation and guiding restructuring efforts in Việt Nam.
The workshop concluded with consensus that Việt Nam’s future growth will depend on its ability to embrace innovation, enhance productivity and pursue environmentally sustainable and socially inclusive development pathways — all of which require coordinated policy action and strategic investment in the years ahead.
