Institutional reform seen as key breakthrough

Speaking to reporters in Hanoi on April 7, Nguyen Thi Viet Nga, a National Assembly deputy from Hai Phong city, stressed that “the bottleneck of bottlenecks lies in institutions” and called for new approaches suited to the digital transformation era.

Beyond applying digital tools, she emphasised the need for a “digital mindset” in addressing long-standing regulatory obstacles as well as emerging issues during the policy-making process. In some cases, legal provisions have shown shortcomings even before taking effect, requiring timely review and adjustment by relevant authorities.

Unlocking development resources, she said, must begin with improving mechanisms and policies to ensure the legal system operates smoothly, while maintaining the foundations of a socialist-oriented market economy.

Vietnam has issued a number of major resolutions guiding development in areas such as the private sector, digital transformation, innovation, and lawmaking. The current priority, however, is to translate these orientations into clear roadmaps, from medium-term strategies to annual and even quarterly action plans. Regular performance evaluation mechanisms are also needed to identify and resolve emerging bottlenecks in a timely manner.

Macroeconomic pressures require careful management

From a macroeconomic perspective, Nga noted that Vietnam’s economy is facing multiple pressures from geopolitical tensions, environmental challenges, and demographic changes. In this context, immediate priorities include controlling inflation, maintaining macroeconomic stability, and preventing crisis risks, particularly as fuel and food prices show an upward trend.

Despite these challenges, she expressed confidence that Vietnam can still achieve double-digit growth with appropriate and coordinated measures. The private sector was highlighted as a key growth driver, not only in generating output and revenue but also in ensuring sustainable employment and fulfilling obligations to workers.

Structural reforms and new growth drivers highlighted

She also underscored the importance of expanding the labour market and developing high-tech industries such as semiconductors to create jobs and enhance competitiveness.

At the same time, growth cannot rely solely on industry, construction or trade, she said, stressing the continued importance of agriculture. Advancing high-tech farming, improving productivity per unit of land, and tapping into the marine economy would help increase value and ensure food security.

Other sectors, including culture, tourism and e-commerce, should also be promoted in a sustainable manner, with a focus on “clean” development and the use of digital platforms to promote the country’s image and attract international visitors.

Meanwhile, Nguyen Thi Suu, deputy head of the National Assembly delegation of Hue City, said achieving double-digit growth would require focusing on three key priorities.

First, institutional reform must take the lead in removing barriers to development. Current regulatory frameworks still contain bottlenecks, particularly in areas such as land, environment and construction, which need to be urgently reviewed and amended to ensure consistency and efficiency.

Second, improving implementation capacity is essential. Even a well-designed legal system will fall short if enforcement is weak. She called for encouraging officials to be proactive, innovative and accountable in carrying out their duties.

Third, strengthening policy responsiveness to global fluctuations is critical. As external shocks increasingly affect an open economy like Vietnam, flexible and timely policy adjustments will be key to maintaining stability and creating room for growth.

Lawmakers agreed that while the double-digit growth target presents a significant challenge, it remains achievable if institutional bottlenecks are effectively addressed and growth drivers are fully leveraged in the evolving economic landscape.

Vietnam targets double-digit growth on reform, innovation and infrastructure push

VOV.VN - Vietnam has officially reaffirmed its ambition to achieve double-digit economic growth in the 2026–2030 period, laying out a comprehensive roadmap that combines institutional reform, technological advancement, and strategic infrastructure investment.