The report, entitled “Vibrant Vietnam: Forging the Foundation of a High-Income Economy”, comes as the country’s Government is preparing its socio-economic development strategy for 2021-2030 and a socio-economic development plan for 2021-2025.
It suggested that a productivity-driven development model – combining innovation with balanced development and allocation of private, public, human and natural capital – will be key for Vietnam to achieve its goal of becoming a high-income economy by 2045.
Some of the forces that have propelled Vietnam’s growth are now slowing. The country’s demographic dividend is fading, and global trade is declining, while other challenges – such as pollution and the rise of automation, are growing. The ongoing COVID-19 crisis could be an accelerator of these trends, according to the report.
It argued that to thrive in such changing environment, Vietnam needs to strengthen its productive assets./.
Source: VNA