Innovation should be stepped up to achieve high economic growth: experts
Promoting the development of science and technology as well as digital economy is a wise choice for Vietnam to achieve an annual average economic growth rate of 7 percent during 2021-2030, according to experts.
The proportion of manufacturing and processing is expected to reach 30 percent of the GDP by 2030. (Photo: VNA)
Hanoi (VNA) – Promoting thedevelopment of science and technology as well as digital economy is a wisechoice for Vietnam to achieve an annual average economic growth rate of 7percent during 2021-2030, according to experts.
At a consultation workshop held in Hanoi onNovember 10 to collecting feedback on Vietnam’s draft socio-economic developmentstrategy for 2021-2030, Dr Bui Tat Thang stressed the need to continue acceleratingreforms, saying it is necessary to integrate economic development withrestructuring and changing the growth model.
“Vietnam should work towards fast andsustainable development in combination with environmental protection and enhancingresilience to natural disasters and diseases”, said Thang, who is formerDirector of the Vietnam Institute for Development Strategies under the Ministryof Planning and Investment, which co-hosted the forum together with the WorldBank (WB).
Meanwhile, Operations Manager for the World Bankin Vietnam Stefanie Stallmeister suggested Vietnam focus on environmentalprotection activities, resilience to climate change, economic development inharmony with social stability and security, as well as effective management ofnatural resources.
Under the strategy, Vietnam expects to have percapita GDP of 7,500 USD and annual labour productivity growth of over 6.5percent by 2030.
The proportion of manufacturing and processingis expected to reach 30 percent of the GDP while the digital economy isenvisioned to contribute 30 percent to the GDP.
Thanks to breakthrough strategies during2011-2020, Vietnam has attained outstanding achievements in institutionalreforms, human resources development and infrastructure development.
Several large power projects which have greatcontributions to production and business activities were completed, such asVinh Tan 2 and 4 thermal power plants, Vung Ang 1 thermal plant, and Mong Duong1 & 2 thermal power plants.
However, the strategy did not work out well forthe nation to achieve its GDP growth of 7-8 percent, and improve its growthquality as well as national competitive capacity./.
The COVID-19 pandemic will continue to weigh on socio-economic development and State budget in 2021 and the years that follow, Minister of Finance Dinh Tien Dung said.
Prime Minister Nguyen Xuan Phuc appeared before the National Assembly on November 10 to answer queries from deputies regarding various matters of importance.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
The proportion of manufacturing and processing is expected to reach 30 percent of the GDP by 2030. (Photo: VNA) 
