Vietnam’s economy is returning to the trajectory of rapid growth

Speaking at the plenary session of the Forum Vietnam economy For the fourth time, the Head of the Central Economic Commission Tran Tuan Anh made the above assessment.

The situation has set a requirement that Vietnam needs to accelerate faster, more drastic, substantive and more effective the building of an independent and self-reliant economy associated with extensive and effective international integration.

On the afternoon of June 5, in Ho Chi Minh City, Prime Minister Pham Minh Chinh attended the plenary session – high-level discussion of the 4th Vietnam Economic Forum with the theme “Building an independent economy, autonomy associated with extensive economic integration in the new situation”.

The forum was chaired by the Central Economic Commission, in collaboration with the Government and the People’s Committee of Ho Chi Minh City.

Building an independent and self-reliant economy is a transparent and consistent point of view

Speaking at the opening of the plenary session, Mr. Tran Tuan Anh, Politburo member, Head of the Central Economic Commission, stated that building an independent and self-reliant economy is Vietnam’s consistent and consistent point of view. since the implementation of Doi Moi in 1986 until now.

The socio-economic development strategy 2021-2030, adopted at the 13th Party Congress, has determined the view that “Building an autonomous economy must be based on mastering technology and proactively and actively integrating, to diversify markets, improve the adaptability of the economy, to form new national production capacities with self-reliance, effective participation, improve position in global value chains and capacity effectively withstand large and unusual impacts from the outside. Promoting internal strength is a decisive factor associated with external forces and the strength of the times”.

Recently, during the Prime Minister’s working visit to the US, many US leaders and scholars highly appreciated the content of the Prime Minister’s exchange speech on the issue of economic construction. Vietnam’s independence and self-reliance.

Before a large number of domestic and international delegates, Head of the Central Economic Commission Tran Tuan Anh said that after 35 years of Doi Moi, Vietnam has achieved impressive development achievements with outstanding results.

After 35 years of Doi Moi, Vietnam has achieved impressive development achievements with outstanding results. VGP/Nhat Bac photo

Vietnam’s economic scale increased 12 times, per capita income increased 8.3 times, export – import turnover increased 29.5 times, foreign direct investment (FDI) increased 22 times. The national poverty rate from 58% in 1993 to only 2.23% in 2021 according to the new standard.

From a poor, backward and undernourished country, Vietnam has risen to become a middle-income country with GDP per capita reaching US$2,779 by 2020 and one of the major exporters of agricultural products. In the world.

Up to now, Vietnam has had diplomatic relations with 189/193 member countries of the United Nations, including a strategic partnership and a comprehensive partnership with 30 countries. Our Party has established relations with 247 political parties in 111 countries. The National Assembly of Vietnam has relations with parliaments and parliaments of more than 140 countries. Vietnam has trade relations with over 220 partners, 71 countries have recognized the market economy status for Vietnam. We have signed and joined 15 free trade agreements, including many new generation free trade agreements.

To achieve the above achievements, the key factor is the correct guidelines and policies of the Party and State on socio-economic development, especially on building an independent, self-reliant and democratic economy. actively integrate into the world”, the Head of the Central Economic Commission emphasized.

Delegates attended the 4th Vietnam Economic Forum with the theme “Building an independent and self-reliant economy associated with deep economic integration in the new situation”. VGP/Nhat Bac photo

The autonomy of the economy is still weak

However, besides outstanding achievements, the economy’s self-control capacity, adaptability and resilience to shocks or external impacts are still weak.

The autonomy of the economy is strongly influenced by fluctuations in production activities in the foreign investment sector and some large markets. Vietnam’s economy is basically a capital-intensive economy and processing and assembly are the main ones.

In recent years, although the ranking of the innovation index has improved, the fundamental factors are still at a low level.

The industry’s autonomy is still at a low level with the import of most technologies, machinery, equipment, spare parts, and main raw materials for industrial production.

Vietnam’s economy is highly integrated, has great openness, but focuses on a few markets, and the structure is unsustainable, leading to dependence.

Comrade Tran Tuan Anh: An urgent, pivotal, consistent and long-term task is to build a dynamic, fast and sustainable, independent and self-reliant economy on the basis of science and technology. , innovation associated with improving efficiency in foreign affairs and international integration. VGP/Nhat Bac photo

Urgent tasks are pivotal, consistent, and long-lasting

The above inadequacies have made economic growth not reach the set strategic goals; per capita income increased at a slow rate and remained at a low level, quality, efficiency and competitiveness of the economy were still weak; requirements to implement industrialization and modernization in the direction of shortening facing many challenges; Labor productivity is still low compared to development requirements…

The above-mentioned reality shows that in order to achieve the goal by 2030, Vietnam will become a developing country with modern industry, high middle income, and by 2045, a developed country with high income. The key, consistent and long-term necessity is to build a dynamic, fast and sustainable, independent and self-reliant economy on the basis of science, technology, innovation associated with economic development. high efficiency in foreign affairs and international integration.

Over the past two years, the Vietnamese economy has faced a series of unprecedented difficulties caused by the COVID-19 pandemic. Up to now, under the leadership of the Party, the drastic, synchronous and effective management of the Government and the Prime Minister, together with the participation of the entire political system, the consent and support of the people and businesses, we have moved to the state of “Adapting safely, flexibly, effectively controlling the COVID-19 epidemic”.

Vietnam’s economy is returning to its pre-pandemic growth trajectory

The results show that Vietnam has well controlled the epidemic, quickly recovered production and business activities, stabilized jobs and incomes for workers, and supported people and businesses affected by the epidemic. , ensuring social security and welfare. The economy in the first quarter of 2022 has returned to a high growth momentum, reaching over 5%. The fields of export, investment, and consumption all increased strongly, and investors’ confidence increased sharply.

The credit rating agency S&P has just upgraded Vietnam’s long-term credit rating from BB to BB+, noting that Vietnam’s economy is on a solid recovery track and forecasting Vietnam’s GDP growth in 2022 at around 6.5%. 9% with a long-term trend of 6.5% – 7% from 2023.

According to Head of the Central Economic Commission Tran Tuan Anh, very encouraging socio-economic development results in the first months of 2022 show that Vietnam’s economy is continuing to gradually return to the trajectory of rapid growth. before the pandemic. However, the impact of the recent pandemic along with the emergence of many new events in the international context, typically the conflict in Ukraine, has been asking Vietnam to speed up and be more drastic. , more substantive and effective than building an independent and self-reliant economy associated with extensive and effective international integration.

Comrade Tran Tuan Anh expressed his belief that, after this Forum, with a strong desire for innovation, under the leadership of the Party, supervision and accompaniment of the National Assembly, the leadership and direction of the community. Ministry and drastic measures of the Government and the Prime Minister, the consensus and unanimity of the entire political system and people, the effective implementation process of the business community, entrepreneurs and the Vietnamese economy will continue. By continuing to develop rapidly and sustainably, we will successfully build an economy with internal capacity and high competitiveness, deep international integration, and the ability to adapt and withstand changes. and adverse external influences.

* Invite readers to watch programs broadcast by Vietnam Television on TV Online and VTVGo!