14th National Party Congress: Vietnam strives for 10-pct tech driven green GDP growth

Sri Lanka's financial and economic news portal at https://economynext.com/ reported that by 2045, Vietnam hoped to become a developed nation. Over 2021 to 2025, growth averaged 6.1 percent. Vietnam grew 8.01 percent in 2025 to an estimated 514 billion US dollars, and is now believed to be the 32nd largest economy in the world, with per capita GDP of 5,026 dollars

“Efforts will be made to achieve an average annual gross domestic product growth rate of 10 percent or higher during the 2026 – 2030 period, with GDP per capita reaching around 8,500 US dollars by 2030,” General Secretary To Lam said in an opening address.

Party General Secretary To Lam presents the Report of the 13th Party Central Committee on the documents submitted to the 14th National Party Congress. (Photo: VNA)

Private Sector Led, Technologically Driven

Vietnam’s future will be in technology led growth to create a greener economy with more private investment.

“Science – technology, innovation, and digital transformation must truly become the key driving force of growth,” he said.

“The foundation for enhancing productivity and competitiveness; a tool for improving governance efficiency, national self-reliance, and ensuring national defence – security; and a method for creating new business models, new jobs, and new added value.

“We must bring into full play the functions and roles of economic sectors,” General Secretary To Lam said.

“The state-owned economic sector plays the key role in macroeconomic stabilisation, major balances, and strategic orientations, and leadership.

“The private economic sector is a most important driving force of the economy; so a favourable business environment must be created, the property rights and freedom of business ensured.”

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Domestic enterprises will encouraged to grow strong and become internationally competitive with knowledge and technology applied in production and business.

“Fast but sustainable development is essential,” he said. “Growth must be primarily based on productivity, quality, efficiency, and innovation; gradually reducing dependence on resource exploitation and cheap labour.

“An international financial centre, high-quality service and tourism centres must be established.”

“Green transition and energy transition must be implemented decisively and methodically, linked to energy security, environmental security, and competition demand.”

Anti-Corruption

General Secretary To Lam also came to power on an anti-corruption drive.

“The fight against corruption, wastefulness and negative phenomena has been carried out drastically, persistently, synchronously and comprehensively, yielding many extremely important results, helping to consolidate the People’s trust and enhance discipline,” he said.

Under the previous structure Vietnam has achieved remarkable growth becoming the envy of other developing nations.

Under Party General Secretary To Lam, Vietnam’s government has already been trimmed and more changes are expected in the future.

The changes were a “revolution to reform, reorganise and streamline the organisational apparatus and administrative units achieved its strategic objectives, marking an important shift in national governance mindset,” he was quoted as saying in the opening address.

Since Doi Moi

Vietnam has grown fast after economic reforms carried out after 1986, when its centrally planned economy was transformed into a socialist oriented market economy.

Exports had grown even under tariff headwinds in the US and the country had drawn foreign investment.

“Our economy has overcome numerous difficulties and challenges, maintained macroeconomic stability, and sustained a relatively strong growth momentum,” To Lam said.

“Its potential, resilience and adaptability have been enhanced, creating an important foundation and space for a phase of faster and more sustainable development.”

Vietnam emerged from the Coronavirus crisis, with fiscal metrics intact without engaging in stimulus and destroying government finances unlike Western nations, analysts say.

Powerful Nation

State President Luong Cuong said after 40 years of implementing the Doi moi (Renewal) policy, the country has achieved historically significant accomplishments, continuously improving the People’s life quality and happiness, and enhancing the country’s prestige and stature on the international stage.

But the country still faces many challenges and limitations: Growth remains below its potential and not truly sustainable; labour productivity is not high, the competitiveness of the economy is still limited.

Five new institutional pillars are gradually reshaping Vietnam’s economic landscape from now until the 14th National Party Congress. (Photo: Vietnamnet)

The lives of a segment of the population remain difficult; climate change, natural disasters, epidemics, cybersecurity, among others, continue to have complex impacts and bring many risks, President Cuong said.

The Congress will outline a roadmap to inspire the aspiration for development, foster national pride and self-resilience, unlock all resources and bring into play the strength of the People and national solidarity, he said.

It will lead to national renewal, construction, development, and defence, to achieve the goal of building a powerful nation standing shoulder to shoulder with the great powers across the five continents as envisioned by President Ho Chi Minh and the aspirations of the entire nation.

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