MPI Minister Nguyen Chi Dung speaking at the event

The forum, themed “Vietnam: Aspiration for prosperity - priorities and actions”, attracts the wider participation of policy makers, development partners, domestic and foreign experts, and private businesses.

Minister Dung said that realizing the aspiration for prosperity is an ongoing process with many opportunities and challenges. The Draft Socio-Economic Development Strategy for the 2021-2030 period defines an important orientation on institution: completing the transition to a modern and integrated market economy in accordance with international practice.

The orientation for development of science-technology and innovation emphasizes the focus on enterprises, allows the implementation of new policy testing mechanisms, takes risk for the application of new technologies, innovation and new business models, and carry out digital transformation in national governance, production-business and social organizations.

“Our aspirations and desires in developing an increasingly prosperous and modern country, with bold and fully-determined directions, are very clear. However, we always want to study, learn from experience lessons from the world, and listen to the advice and recommendations of experts and scholars associated with specific conditions of Vietnam,” the Minister stressed.

 WB Country Director for Vietnam Ousmane Dione sharing risks facing Vietnam 

In his speech at the event, World Bank (WB) Country Director for Vietnam Ousmane Dione pointed out Vietnam’s economic model is facing a number of domestic challenges, including rapidly aging population, degradation of natural capital, weak human capital, and the ability of decreasing rate of productivity increase.

“Therefore, in spite of having potential to sustain the success of development, Vietnam still needs bold renovation for the country to seize opportunities in the near future and manage the risks mentioned above,” he added.

Mr. Ousmane Dione said that with this vision, two important areas should be discussed to contribute to building Vietnam’s development road-map in the next decade include: seeking ways to address a fundamental weakness in the current growth model and issues related to market institutions.

At the event, participants exchange views on the country’s reform and development issues to seek short-term and long-term solutions as well as specific actions to obtain rapid and sustainable development.

Economic experts at the event

The most important target of VRDF 2019 is to collect ideas and suggestions for the building of some documents of the 13th National Party Congress, including the national development strategy for the 2021-2030 period, orientations and tasks of the five-year socio-economic development plan 2021-2025./.

Since joining the group of middle-income countries, Vietnam has always stood in the group of high economic growth in the world with an average gross domestic product (GDP) growth rate of more than 6.2% in the 2011-2018 period.

By the end of 2018, GDP scale reached over USD250 billion, belonging the group of 45 economies with the largest GDP scale in the world. GDP per capita reaches nearly USD2,600./. 


Minh Van