Vietnam aims for top 35 global economy: PM proposes

Prime Minister Pham Minh Chinh has proposed setting the goal for Vietnam to become one of the world’s top 30 to 35 economies and a high-income country.

He made the statement during a meeting with permanent cabinet members and the standing board of the sub-committee for socio-economic affairs of the 14th National Party Congress on September 9.

At the meeting, chaired by the PM, participants discussed a draft report evaluating the five-year (2021-2025) implementation of the socio-economic development strategy for 2021-2030, that had been adopted by the 13th National Party Congress in early 2021, and outlining goals and tasks for the next five years (2026-2030).

PM Chinh, also head of the sub-committee, tasked the report compilation board with a comprehensive analysis of Vietnam’s socio-economic achievements under the current strategy. The analysis should consider the global challenges and complexities the country has faced. Based on the analysis, suitable targets and solutions can be identified to address bottlenecks and emerging issues. 

For the next five-year period, PM Chinh suggested adding "maintaining stability for growth" as a key objective. He emphasized the need to renew the development mindset across all sectors, with a particular focus on completing the socialist-oriented market economy mechanisms. By doing so, Vietnam aims to join the world's top 30-35 economies by 2030.

The Government leader emphasized the need for the report to propose mechanisms and policies that mobilize social resources, including public-private partnerships and foreign direct and indirect investment, for national development.

He also urged the acceleration of three strategic breakthroughs, with a focus on developing science, technology, and innovation, particularly in emerging sectors such as green, digital, circular, and intellectual economies, as well as the cultural industry.

Additionally, the leader requested the inclusion of specific tasks and projects that could drive significant socioeconomic development. These include investing in high-quality human resource development for digital transformation, green transition, and circular and intellectual economies; developing the railway industry; addressing climate change in the Mekong Delta; advancing nuclear energy, seaports, and airports; and strengthening digital infrastructure.