After 40 years of Doi Moi (Renewal), Viet Nam has established important foundations that have gradually contributed to achieving this objective. The economy has continued to expand, the country's international standing has steadily risen, and per capita income has progressively improved.
According to the Ministry of Finance, in the second quarter and the first six months of 2026, the economy maintained positive growth across most sectors, while macroeconomic stability was largely preserved, inflation remained under control, and energy security was ensured.
GDP in the first six months of the year is estimated to have grown by 8.18%, the highest rate since 2011 and among the strongest-performing economies globally. Investment, consumption and exports all recorded positive growth, reaching their highest levels in many years.
The average Consumer Price Index (CPI) in the first half of the year increased by 4.38%, remaining within the target of around 4.5%. These are highly encouraging results, reflecting the efforts of the entire political system and providing an important foundation for the country to enter a new stage of development.
In the second quarter and the first six months of 2026, the economy continued to maintain positive growth across most sectors, with macroeconomic stability largely maintained, inflation kept under control, and energy security ensured.
However, according to many economists, Viet Nam still faces a considerable gap in achieving the 2030 target of raising GDP per capita to around 8,500 USD, as set out by the 14th National Party Congress.
This requires continued bold innovation in development thinking, alongside improvements in growth quality, labour productivity, competitiveness, economic resilience, and self-reliance.
According to Assoc Prof, Dr Vu Van Phuc, former Editor-in-Chief of the Communist Review, transforming the development model on the basis of science and technology, innovation and digital transformation is both an urgent requirement and the inevitable path for Viet Nam to successfully achieve its goal of becoming a developed, high-income country by 2045.
Accordingly, alongside institutional reforms, Viet Nam should continue to vigorously implement the Party's policies on science and technology development, innovation, and national digital transformation.
Priority should be given to developing strategic technologies, core technologies, and foundational technologies, especially semiconductors, artificial intelligence, big data, cloud computing, biotechnology, and other sectors capable of delivering breakthroughs in productivity, quality, and added value.
At the same time, the country must develop its own technologies to produce knowledge-intensive goods, thereby creating space for new drivers of economic growth to emerge and flourish.
Transforming the development model on the basis of science and technology, innovation and digital transformation is both an urgent requirement and the inevitable path for Viet Nam to successfully achieve its goal of becoming a developed, high-income country by 2045.
Assoc Prof, Doctor Vu Van Phuc, former Editor-in-Chief of the Communist Review
If science and technology create new growth drivers, then promoting thrift and combating waste represent an effective solution for generating additional resources for development. Given the country's limited resources, every wasted resource means a lost opportunity for growth.
Assoc Prof, Dr Pham Thi Tuy, Deputy Director of the Institute of Political Economy under the Ho Chi Minh National Academy of Politics, noted that achieving the goal of making Viet Nam a developing country with modern industry and upper-middle income by 2030 requires breakthrough thinking and comprehensive solutions throughout the 2026–2030 period.
In the context of limited national resources, fully embracing the principle of "practising thrift and combating waste" should be elevated into a core strategy for generating endogenous resources.
From the perspective of political economy, waste extends beyond direct financial losses. More seriously, it includes the waste of opportunities and time when dormant resources — such as land, public assets, and the capital of state-owned enterprises — remain tied up in delayed projects or rigid management mechanisms.
A comprehensive review to remove legal bottlenecks and unlock these resources for development would release substantial capital for the national economy.
The 14th National Party Congress has identified new drivers of growth while also requiring that these strategic orientations be swiftly translated into tangible outcomes. Science and technology, innovation, digital transformation, institutional reform, and the development of a high-quality cadre contingent can fulfil their roles only when they are implemented in a synchronised, determined, and effective manner across all levels of government, sectors, and localities.
