Innovation should be stepped up to achieve high economic growth: experts
The proportion of manufacturing and processing is expected to reach 30% of the GDP by 2030.
At a consultation workshop held in Hanoi on November 10 to collecting feedback on Vietnam’s draft socio-economic development strategy for 2021-2030, Dr Bui Tat Thang stressed the need to continue accelerating reforms, saying it is necessary to integrate economic development with restructuring and changing the growth model.
“Vietnam should work towards fast and sustainable development in combination with environmental protection and enhancing resilience to natural disasters and diseases”, said Thang, who is former Director of the Vietnam Institute for Development Strategies under the Ministry of Planning and Investment, which co-hosted the forum together with the World Bank (WB).
Meanwhile, Operations Manager for the World Bank in Vietnam Stefanie Stallmeister suggested Vietnam focus on environmental protection activities, resilience to climate change, economic development in harmony with social stability and security, as well as effective management of natural resources.
Under the strategy, Vietnam expects to have per capita GDP of US$7,500 and annual labour productivity growth of over 6.5% by 2030.
The proportion of manufacturing and processing is expected to reach 30% of the GDP while the digital economy is envisioned to contribute 30% to the GDP.
Thanks to breakthrough strategies during 2011-2020, Vietnam has attained outstanding achievements in institutional reforms, human resources development and infrastructure development.
Several large power projects which have great contributions to production and business activities were completed, such as Vinh Tan 2 and 4 thermal power plants, Vung Ang 1 thermal plant, and Mong Duong 1 & 2 thermal power plants.
However, the strategy did not work out well for the nation to achieve its GDP growth of 7-8%, and improve its growth quality as well as national competitive capacity.
Related News
![Note for businesses when converting green and digital](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/082024/30/13/croped/142024082710321220240830135517.jpg?240905100039)
Note for businesses when converting green and digital
10:00 | 05/09/2024 Import-Export
![Vietnam and Japan promote cooperation](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/082024/29/10/img-4133jfif2024082815273820240829104455.jpg?rt=20240829104458?240830073006)
Vietnam and Japan promote cooperation
19:30 | 30/08/2024 Finance
![Finance sector urgently amends 7 Laws to remove bottlenecks and promote economic growth](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/082024/28/14/croped/102024082708453020240828143457.jpg?240829090953)
Finance sector urgently amends 7 Laws to remove bottlenecks and promote economic growth
09:09 | 29/08/2024 Finance
![Removing public investment bottlenecks](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/082024/26/10/croped/4-cao-toc2024082013124020240826104946.jpg?240829090908)
Removing public investment bottlenecks
09:09 | 29/08/2024 Headlines
Latest News
![Eco-industrial parks vital to achieving net zero emission target by 2050](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/07/18/croped/namcaukieu-974420240907182735.9617940.jpg?240907062824)
Eco-industrial parks vital to achieving net zero emission target by 2050
18:28 | 07/09/2024 Headlines
![PM urges pushing up growth in 2024, 2025 with priority solutions](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/07/18/croped/pm-262220240907182600.3753200.jpg?240907062630)
PM urges pushing up growth in 2024, 2025 with priority solutions
18:26 | 07/09/2024 Headlines
![Vietnam attracts foreign investors thanks to its stability: Russian official](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/06/14/croped/hinh-anh-79420240906141711.7865050.jpg?240906021755)
Vietnam attracts foreign investors thanks to its stability: Russian official
14:17 | 06/09/2024 Headlines
![August CPI stays stable compared to previous month](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/06/14/croped/august-cpi-stays-stable-compared-to-previous-month-59620240906141438.6085100.jpg?240906021508)
August CPI stays stable compared to previous month
14:15 | 06/09/2024 Headlines
More News
![Co-branded cards open doors for Vietnamese business to enter global market](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/05/16/croped/370771-visadth-605720240905161100.0212200.jpg?240905041123)
Co-branded cards open doors for Vietnamese business to enter global market
16:11 | 05/09/2024 Headlines
![For sustainable development of cross-border e-commerce](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/082024/30/16/16-thay2024082311242720240830160423.jpg?rt=20240830160426?240904024344)
For sustainable development of cross-border e-commerce
14:43 | 04/09/2024 Headlines
![Tourism sector serves about 3 million visitors during National Day holidays](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/04/14/croped/vna-potal-ca-nuoc-don-3-trieu-luot-khach-dip-nghi-le-quoc-khanh-29-7571465-662320240904142228.0840630.jpg?240904022317)
Tourism sector serves about 3 million visitors during National Day holidays
14:23 | 04/09/2024 Headlines
![What to do to mobilize investment resources for green transport?](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/082024/30/14/croped/1307-259431148-941994990050898-3054124825542113726-n20240830144546.jpg?240904083134)
What to do to mobilize investment resources for green transport?
08:31 | 04/09/2024 Headlines
![Economic growth models innovation an essential step for sustainable development: Experts](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/03/19/croped/370945-4940438393653901-article-962520240903194304.0368050.jpg?240903074325)
Economic growth models innovation an essential step for sustainable development: Experts
19:43 | 03/09/2024 Headlines
![Russian newspaper highlights value of Vietnam "bamboo diplomacy" policy](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/03/19/croped/17250702784168-194420240903194117.6781020.jpg?240903074140)
Russian newspaper highlights value of Vietnam "bamboo diplomacy" policy
19:41 | 03/09/2024 Headlines
![Becoming a green hydrogen exporter: Vietnam can elevate its economic position](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/082024/29/15/croped/5-dr-majo-george-900x59920240822130226202408261338502024082620192620240829155044.jpg?240903093111)
Becoming a green hydrogen exporter: Vietnam can elevate its economic position
09:31 | 03/09/2024 Headlines
![Ho Chi Minh City stimulates consumption](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/082024/29/10/croped/19-12024081520103120240829104057.jpg?240903092834)
Ho Chi Minh City stimulates consumption
09:28 | 03/09/2024 Headlines
![Vietnamese firms urged to quickly adapt to EU Deforestation Regulation](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/02/19/croped/dong-phu-rubber-plantation-929720240902190427.8805960.jpg?240902070456)
Vietnamese firms urged to quickly adapt to EU Deforestation Regulation
19:04 | 02/09/2024 Headlines
Your care
![Eco-industrial parks vital to achieving net zero emission target by 2050](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/07/18/croped/medium/namcaukieu-974420240907182735.9617940.jpg?240907062824)
Eco-industrial parks vital to achieving net zero emission target by 2050
18:28 | 07/09/2024 Headlines
![PM urges pushing up growth in 2024, 2025 with priority solutions](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/07/18/croped/medium/pm-262220240907182600.3753200.jpg?240907062630)
PM urges pushing up growth in 2024, 2025 with priority solutions
18:26 | 07/09/2024 Headlines
![Vietnam attracts foreign investors thanks to its stability: Russian official](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/06/14/croped/medium/hinh-anh-79420240906141711.7865050.jpg?240906021755)
Vietnam attracts foreign investors thanks to its stability: Russian official
14:17 | 06/09/2024 Headlines
![August CPI stays stable compared to previous month](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/06/14/croped/medium/august-cpi-stays-stable-compared-to-previous-month-59620240906141438.6085100.jpg?240906021508)
August CPI stays stable compared to previous month
14:15 | 06/09/2024 Headlines
![Co-branded cards open doors for Vietnamese business to enter global market](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/05/16/croped/medium/370771-visadth-605720240905161100.0212200.jpg?240905041123)
Co-branded cards open doors for Vietnamese business to enter global market
16:11 | 05/09/2024 Headlines