Domestic, international experts review Vietnam’s 30-year development
Domestic and international scholars and economists on February 22 attended a discussion in Hanoi to review the socio-economic development of Vietnam in the last 30 years and propose measures for the country to respond to new challenges in the coming time.
Hanoi (VNA)💯 – Domestic and international scholars andeconomists on February 22 attended a discussion in Hanoi to review thesocio-economic development of Vietnam in the last 30 years and propose measures for the country to respond to new challenges in the coming time.
The event was held by the National Economics University (NEU)and Japan’s National Graduate Institute for Policy Studies (GRIPS). At the event, domestic and international speakers presented their views on Vietnam's development situation over the past 30 years and analysedthe shortcomings and problems of the economy. They also examined Vietnam's development policies, shared theexperiences of countries in the region in building and implementingdevelopment policies, and suggested policies for the Government, and theVietnamese business community to respond to new challenges. According to participants, 2024 – 2030 is a decisive period for Vietnam to transform itself into an industrialised country following Vietnam'seconomic and social development strategy for the 2021 – 2030 period.Development opportunities are opening up for Vietnam, especially under theimpacts of globalisation, international economic integration, and the fourthindustrial revolution. NEU Rector Professor Dr. Pham Hong Chuong said that to become adeveloped country with high income by 2045, Vietnam’s economy must achieve anaverage growth rate of 7% yearly over the next 20 years. According to him, the country’s future is shaped by several major trends including the 4.0 Industrial Revolution, digital technology, and ArtificialIntelligence. They bring both advantages and challenges for the country, hesaid, adding that political instabilities and conflictsin parts of the world also pose unprecedented challenges and can hinder the development process of the world and Vietnam as well in the coming time. Professor Kenichi Ohno from the GRIPS assessed that Vietnam'slabour productivity is at a moderate level, without a breakthrough inproductivity. Moreover, manyforeign-invested enterprises consider Vietnam a place to carryout simple processes rather than high-tech design and production, which makes Vietnam heavily dependent on FDI to export andtransform its economic structure, he said, suggesting that Vietnam needs toimprove its leadership capacity and further promote technology andinnovation./.
Despite global headwinds with unprecedented and daunting challenges, Vietnam’s foreign policy, adhering to the “bamboo diplomacy” concept, has carved out various achievements, according to Foreign Minister Bui Thanh Son.
Prime Minister Pham Minh Chinh on December 28 asked the transport sector to pay more attention to infrastructure development, considering this as a key, priority task in 2024.
The disbursement of public investment in 2023 was projected to reach 95% of the plan, equivalent to nearly 676 trillion VND (over 27 billion USD), marking the record high so far, according to Deputy Minister of Planning and Investment Tran Quoc Phuong.
The amended Land Law which was passed at the 15th National Assembly’s fifth extraordinary session in mid-January is expected to provide a firm legal framework to enhance land management efficiency and create new momentum for Vietnam to become a high-income country by 2045.
The increasing inflow of remittances to Vietnam over the years has increased the foreign currency reserve while helping enterprises expand production and business, thus creating an impetus for socio-economic development, according to economists.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Illustrative photo (Photo: VNA) 
