PM stresses key components of development strategy for next 10 years

PM Nguyen Xuan Phuc presents the socio-economic development strategy for 2021-2030 and the orientations and tasks for 2021-2025 on March 28

At the meeting, held to disseminate the resolution of the 13th National Party Congress, PM Phuc presented the main content of the strategy for the next 10 years and the development orientations and tasks for 2021-2025.

He noted the first key component is spiritual momentum and determination, elaborating that it is necessary to inspire the aspiration to develop the country and strongly bring into play the values of the Vietnamese culture and people as well as the strength of the era.

The second is the way and the means to do so, which is mobilising every resource for fast and sustainable development on the basis of science, technology, innovation, and digital transformation.

The third is the goal to strive for, which is turning Vietnam into a developed nation with modern industry and upper-middle income (7,500 USD per person) by 2030, when the Party turns 100, and a developed nation with high-income (18,000 USD per person) by 2045, when the country marks its centenary.

For the five years from 2021-2025, Vietnam looks to obtain annual GDP growth of about 6.5-7 percent on average, the PM noted.

Looking back on the implementation outcomes of the development strategy for 2011-2020 and tasks during the last five years, the Government leader held that Vietnam has gained a number of important and relatively comprehensive achievements in all areas, which have contributed to the huge and historic attainments during the 35 years of “Doi moi” (Renewal).

What have been achieved over the past 10 years, especially the last five years, are the fruits of not only a single tenure but many consecutive tenures by many generations of people under the Party’s leadership.

Highlighting the national solidarity and concerted efforts amid the unpredictable international and domestic situation, PM Phuc said the material and spiritual lives of Vietnamese people have been improved considerably and, particularly, people’s trust in the regime and Vietnam’s prestige in the world have been enhanced.

He also cited several positive figures such as an average economic growth rate of 5.95 percent during the last 10 years and 2.91 percent in 2020 despite difficulties caused by the COVID-19 pandemic. The labour productivity increased 5.9 percent on average in 2016-2020, higher than the rise of 4.3 percent during the five previous years.

Vietnam's GDP now totals 343 billion USD, ranking 37th in the world. It is also one of the 16 emerging economies, among the 10 fastest growing countries, and standing fourth in ASEAN in terms of per capita GDP.

At the same time, the PM emphasised the need to address outstanding problems in the medium and long-term. In particular, he pointed to the importance of cultural, social and human development, while noting that education-training, science-technology and innovation must be considered a foundation, a main driving force of development.

Moreover, he underlined consensus among the people, describing it as the strength to achieve any goal.