A scientific forum titled “Vietnam’s Economy 2016-2020: development breakthroughs” was held in Hanoi on September 4 by the Party Central Committee’s Economic Commission in coordination with the Vietnam Union of Scientific and Technological Associations (VUSTA) .
The forum aimed to make clear scientific grounds and the realities for the building of a social-economic development plan for 2016-2020 and contribute to the drafting of documents for the 12th National Party Congress.
Although Vietnam has reaped important achievements in the past five years, the country failed to fulfil some of set goals, such as the uncertain stability of the macro-economy, the slower-than-expected economic growth and the slow-paced improvement in the economy’s quality and competitiveness.
The building of institutions for the socialist-orientated market economy has not kept pace with the realities, and the quality of human resources and infrastructure are still an obstacle to development.
Weaknesses in the fields of education, science and technology, culture, social affairs and environmental protection have been slow to be repaired while new threats to peace, stability and national sovereignty have surfaced.
Based on the analysis of limitations and problems of the economy in past years, the forum focused on issues relating to institutions and the ways of thinking about economic development; economic restructuring; and reforms of growth models, productivity and total factor productivity.
Participants recommended switching to a growth model based on productivity and efficiency, which combines both intensive and extensive development with intensive development being the key.-VNA
Vietnam’s agriculture is entering a new phase to meet requirements in the process of international economic integration. Therefore, applying high-tech to improve efficiency, competitiveness and product quality and meet consumer demand is an urgent task, the Vietnam Economic News reported on August 1.
Vietnam’s macro-economy has successfully been kept stable and recovery remained on track during the first eight months of 2015, despite complicated global economic fluctuations, a ministry reported.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
Despite global economic uncertainties, Binh Duong has maintained strong momentum in both exports and industrial production during the first half of 2025.
At the forum (Source: thst)
