To achieve the goal of becoming a high-income country by 2045, Vietnam's economic growth rate must reach double digits continuously in the following years.

Aiming to become a high-income country by 2045

At the National Conference to disseminate and summarize the implementation of Resolution 18-NQ/TW taking place at the end of 2024, General Secretary To Lam emphasized the need to innovate thinking, break through and surpass oneself to accelerate economic growth.

In particular, to reach the goal of becoming an upper-middle-income country by 2030 and a high-income country by 2045, Vietnam's economic growth rate must reach double digits continuously in the following years.

“This is a very difficult problem that we have to do” - General Secretary To Lam acknowledged and said that, to solve this "problem", the Party Central Committee, the Government, and the National Assembly are focusing on resolving "bottlenecks" and creating fundamental factors for the country to "take off", especially issues related to infrastructure such as transportation systems, energy infrastructure, human resources, facilities, institutional reform, administrative procedures, etc.

Meanwhile, at the regular Government meeting in December 2024, Prime Minister Pham Minh Chinh also requested ministries, branches and localities to make efforts to achieve the target. growth over 7% in 2024 and about 8% in 2025. From there, create momentum, create force, create position for the period 2026-2030 Vietnam to achieve double-digit growth, to realize strategic goals until 2030 to celebrate the 100th anniversary of the founding of the Party and 2045 to celebrate the 100th anniversary of the founding of the country.

To achieve the set goals, the Prime Minister stated: The context and tasks require members of the Government, ministers, heads of sectors, heads of agencies, levels, sectors and localities to have innovative thinking, breakthroughs with higher determination, greater efforts, more drastic actions, more focus, timely, flexible and effective implementation with the spirit of "dare to think, dare to do, dare to break through for the common good"; "what is said is done, what is committed is done; what is done, what is done must be effective"...

Sharing with reporters, Dr. Luong Van Khoi - Deputy Director of the Central Institute for Economic Management (Ministry of Planning and Investment) - admitted that double-digit growth in the following years is an extremely difficult "problem" for Vietnam, especially in the context of many unpredictable developments in the world economy and politics. Meanwhile, Vietnam is a highly open economy, quickly and strongly affected by external developments.

However, despite difficulties and challenges, Vietnam will have many opportunities to achieve the double-digit growth target in the coming period, if it knows how to take advantage of and cherish existing advantages and create new advantages, creating momentum for rapid and sustainable growth.

Double-digit growth momentum

Perspectives on growth drivers economy of Vietnam in 2025 and the target of double-digit growth in the coming time, Dr. Luong Van Khoi said: In 2025, Vietnam's inflation is forecast to remain under control, along with all three economic sectors: Industry - construction; agriculture - forestry and fishery. Tourism and services all have many signs of better growth than in 2024. In addition, people's living standards have changed positively and the number of international visitors to Vietnam is still growing well, these are signs that help promote the development of the domestic market and contribute to GDP growth.

Along with that, the export situation is still considered a "bright spot" in Vietnam's economic picture. In 2024, Vietnam's import-export turnover is expected to reach over 800 billion USD.

It is expected that in 2025, the world's demand for Vietnamese goods will continue to increase strongly. Vietnam is also an economy with a deep international economic integration process with 16 Free Trade Agreements (FTAs) signed, including new generation FTAs ​​such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Vietnam - EU Free Trade Agreement (EVFTA); the Regional Comprehensive Economic Partnership (RCEP), ... If these FTAs ​​are fully exploited, Vietnamese enterprises' goods will have the opportunity to penetrate deeper into major markets in the world, opening up opportunities for Vietnam's exports.

Another driving force, according to Dr. Luong Van Khoi, that will positively impact Vietnam's double-digit economic growth target in the coming period is attracting foreign direct investment into Vietnam, which is still very promising. Although global FDI flows are showing signs of slowing down, FDI into Vietnam has increased in recent years.

According to data from the Ministry of Planning and Investment, in 2023, Vietnam attracted over 39 billion USD of FDI capital, in 2024, FDI capital flow is expected to reach about 39-40 billion USD, equivalent to 2023. Vietnam is being evaluated as a bright spot of global corporations with the appearance of many leading technology corporations in the world such as: Samsung, LG, NVIDIA, ...

In addition to the above motivations, economic experts believe that Vietnam's socio-economic infrastructure is increasingly improved, especially the expressway is extended and expanded to many localities, helping to increase inter-regional connectivity. Along with that, the 500kV high-voltage line 3 has been put into operation to help ensure stable energy between economic regions, especially in the dry season. In addition, a number of new policies have been issued such as the Land Law, Housing Law, Real Estate Business Law, Bidding Law... to help complete the investment and business environment in a favorable and transparent direction, thereby creating new momentum and momentum for the Vietnamese business community, creating the premise for double-digit growth in the coming years.