2025 is the year for reviewing and reporting the 5-year implementation of the 10-year 2021-2030 socio-economic development strategy, an important document of the 14th Party Congress. Vietnam is witnessing the rising revolutionary spirit and stronger reform, acceleration, and breakthroughs.

The guiding spirit is firmly leading the country into a new era, the era of nation’s rise, robust development and prosperity. This report contains new orientations of development with overarching breakthroughs across many core fields and areas.

The emphasis is rapidly and sustainably developing the country primarily based on science, technology, innovation, digital transformation, and green transformation; building an independent, self-reliant economy by mastering technology and actively integrating internationally, diversifying markets, and enhancing the resilience of the economy.

The orientations also include the harmonious development of the economy, culture, society, environmental protection, and climate change adaptation, with economic development considered the key task.

Great efforts are needed to obtain high economic growth rates in the coming period and maintain the high growth rates in long term, which is the premise for Vietnam to reach the overarching goal set by the 13th Party Congress Resolution that Vietnam will become a developed, high-income country by 2045.

The goals are challenging, but as the practice in some developed countries shows, all of them experienced long periods of high two-digit growth rates, such as Japan, South Korea and Singapore.

Innovation is seen as a resource, and science and technology development is considered as a necessity, while the private sector must be seen as the major driving force. And institutional reform has also been highlighted. There are many opportunities and challenges when developing resources.

In order to gain high growth in the face of anticipated global and regional difficulties and challenges, it is necessary to effectively implement the strategic breakthroughs identified through the Party Congresses, with perfecting the institutional regime, considered the "breakthrough of breakthroughs" in the upcoming period.

Beyond institutional improvement, we need to accelerate industrialization and modernization, restructuring the economy to switch from a broad growth model to one focused on in-depth development, reducing reliance on cheap labor and capital intensiveness.

In addition to institutional improvement, it is necessary to accelerate industrialization and modernization, and restructure the economy towards in-depth development instead of reliance on broad development and intensive capital and low-cost labor.

The nation's development acceleration strategy needs to be implemented based on digital economy and sharing economy. It is necessary to enhance the use of digital technology in all fields and sectors to create new business models.

Vietnam needs to build high-level national production capabilities and a strategic roadmap to become self-reliant and resilient in science and technology to effectively participate in global value chains.

State resources should be concentrated in key sectors, areas, and strategic projects with potential to drive socio-economic development.

State-owned enterprises need comprehensive management and operational reforms. The role and contributions of the private economic sector to the national economy need to be well understood, so as to turn the sector into one of the most important driving forces of the economy.

Asked about solutions to gain ambitious goals, Dung emphasized the need to improve the quality of the socialist-oriented market economy with focus on building and perfecting a comprehensive, synchronized, modern legal system to facilitate international integration, while serving management needs and promoting development.

In the face of the strong development of new economic forms, there is a demand to quickly establish and improve an institutional regime for new economic models such as digital economy, green economy, circular economy, regional and international financial centers, and free trade zones.

Particularly, from 2025 onwards, there should be thorough decentralization and clarification of responsibilities and authority between the central and local governments in public task administration. It is a must to eliminate the "if it can't be managed, it's should be banned" mindset and eradicate the "ask-and-grant" scheme. It is necessary to improve and enhance the quality of the business environment, ensuring fair, equal, and transparent competition."

The Politburo has released Resolution 57 on breakthroughs in science and technology development, innovations and digital transformation, which says science and technology must be considered the major driving force for development. Therefore, innovating and perfecting policies and laws regarding science, technology, and innovation is crucial for success.

Binh Minh