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 Febr𒈔uary 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 chal🅘lenges 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./.
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Illustrative photo (Photo: VNA) 
