Investments

Prime Minister: Proposing a Goal to Rank Our Country Among the Top 30-35 Largest Economies Globally

On the morning of September 9, Prime Minister Pham Minh Chinh, Head of the Sub-Committee for Socio-Economic Affairs of the 14th National Congress of the Party, chaired a meeting of the Government's Standing Committee with the Standing Committee of the Socio-Economic Sub-Committee.

Administrator

13 September, 2024

Prime Minister Pham Minh Chinh: Proposing a goal to advance Vietnam among the top 30-35 largest economies in the world

Prime Minister Pham Minh Chinh: Proposing a goal to advance Vietnam among the top 30-35 largest economies in the world – Photo: VGP/Nhat Bac

The meeting offered suggestions for the draft report assessing the five-year implementation of the 10-year 2021-2030 Socio-Economic Development Strategy and the socio-economic development orientations and tasks for the 2026-2030 period.

Deputy Prime Ministers Nguyen Hoa Binh, Le Thanh Long, Ho Duc Phoc, and Bui Thanh Son, along with leaders of ministries, sectors, and localities who are members of the Socio-Economic Sub-Committee, attended the meeting.

At the meeting, delegates reported on and discussed the absorption, explanation, and supplementation of the contents that have been opined by the Politburo to further perfect the draft report assessing the five-year implementation of the 10-year 2021-2030 Socio-Economic Development Strategy and the socio-economic development orientations and tasks for the 2026-2030 period.

The report clarified the leadership, management, direction, and administration of the Party, State, National Assembly, and Government in the country’s socio-economic development process, the achievements, especially the main targets and highlights of the term, the difficulties and limitations, the reasons for both the results and limitations, the lessons learned, and the key tasks, solutions, breakthroughs, and highlights to promote socio-economic development in the next five years to achieve the goals set by the 10-year 2021-2030 Socio-Economic Development Strategy.

Concluding the meeting, Prime Minister Pham Minh Chinh, Head of the Socio-Economic Sub-Committee, highly appreciated the preparation of the Sub-Committee’s Standing Committee and the enthusiastic, responsible, profound, and comprehensive opinions of the delegates. He requested the Standing Committee to absorb, explain, and supplement the contents that have been opined by the Politburo and the delegates to further perfect the draft report to seek opinions from the Politburo, submit it to the upcoming 10th Plenum of the Party Central Committee, and then to the Party Congresses at all levels for comments before being tabled at the 14th National Party Congress.

In assessing the five-year implementation of the 10-year 2021-2030 Socio-Economic Development Strategy, it is necessary to deepen the achievements, especially in the context of numerous difficulties and challenges in the world, with complex developments. This demonstrates the self-confidence, unity, innovation, and creativity of the Party Central Committee, the Politburo, the Party Secretariat, the National Assembly, and the Government in leadership, direction, and administration. It also reflects their ability to set appropriate goals, implement solutions with high determination, great efforts, and resolute actions, along with the allocation of resources, accompanied by inspection, supervision, urging, and difficulty removal to develop the country and handle emerging issues.

At the same time, it is necessary to clarify certain targets that need further improvement, such as the economic growth rate. As a developing country with a transitioning economy, Vietnam’s economic scale is still modest, with a low starting point, high openness but limited resilience, especially amid the global economic downturn and slow recovery.

Regarding the socio-economic development orientations and tasks for the 2026-2030 period, Prime Minister Pham Minh Chinh requested the absorption of the content “stabilize to develop”; renew development thinking synchronously in all fields, ensuring forward-looking and path-breaking breakthroughs in some fields, especially in perfecting the socialist-oriented market economic institution; focus on key areas with feasible implementation plans and resource allocation; and propose a goal to advance Vietnam among the top 30-35 largest economies in the world, belonging to the group of countries with upper-middle income.

Concerning tasks and solutions, the Prime Minister clarified the need to propose mechanisms and policies to mobilize social resources, especially public-private cooperation and foreign resources, both direct and indirect. It is also crucial to continue promoting the three strategic breakthroughs, deepening the content of tasks for the development of science and technology and innovation, particularly in emerging industries such as green, digital, circular, knowledge, and sharing economies, as well as cultural industries. Additionally, it is essential to promote innovation and reform, especially in the socialist-oriented market economic institution, with the State playing a leading role and businesses as the center.

Nhat Quang