A specific roadmap is needed to ensure the effective implementation of policies and orientations promoting the development of new economic models, according to Deputy Head of the Party Central Committee’s Economic Commission Nguyen Duc Hien.

He made the remarks while addressing the Vietnam New Economy Forum 2023, which was co-hosted by VnEconomy / Vietnam Economic Times (VET) and the Central Institute for Economic Management (CIEM) on October 6.

New economic models such as the sharing economy, the digital economy, the green economy, and the circular economy have been promoting the positive role they play, creating drivers for green growth and sustainable development in economies across the world.

Vietnam has set a key and strategic goal for the 2021-2030 period of restructuring its economy and innovating its growth model based on the effective use of resources and promoting the drivers of science, technology, and innovation.

The new economy is related to science and technology, innovation, and high-quality human resources, so it is necessary to have mechanisms and policies to attract investment in science and technology and human resources training, particularly for the digital technology sector, he said.

Politburo Resolution No. 52-NQ/TW identifies the digital economy as one of three key tasks in policies relating to Industry 4.0, together with smart urban construction and e-government, according to Mr. Hien.

Vietnam has set a target of having the digital economy contribute 30 per cent to GDP by 2030.

In regard to the circular economy, the Politburo has issued a resolution on proactive adaptation to climate change, environmental protection, and promoting the transition of growth models in connection with restructuring the economy towards green growth and sustainable development, he said.