The 3^rd Vietnam Economic Pulse forum, with the theme “Leveraging Technology to Foster Prosperity in Vietnam”, was co-organized by the Central Institute for Economic Management (CIEM) at the Ministry of Planning and Investment and the United Nations Development Program (UNDP) in Hanoi on December 6, the Government News has reported.

Bringing together business leaders, scholars, experts, and policymakers to delve into the transformative potential of new technologies, Industry 4.0, and the digital revolution, the annual forum highlighted the importance of science, technology, and innovation for middle-income countries like Vietnam.

Discussions centered around suitable directions for Vietnam’s potential and capacity in taking advantage of science and technology to develop.

Educators, scientists, and business leaders shared their perspectives on seizing opportunities, training, and investing in cutting-edge technologies like semiconductors and AI, and building an innovative and competitive business environment.

UNDP Resident Representative in Vietnam Ramla Khalidi, in her opening remarks, emphasized that technological innovation, energy transition, and shifts in geopolitical strategies have created historic opportunities for Vietnam to accelerate its economic transformation, penetrate into new markets for higher value-added goods and services, and increase the sophistication and domestic content of exports.

Vietnam’s ability to capitalize on these opportunities will have important implications for the country in sustaining productivity growth at higher level incomes; in other words, Ms. Khalidi added, avoiding the middle-income trap.

Under three potential economic growth scenarios for Vietnam in 2024, outlined by CIEM and announced at the forum, the highest GDP growth rate is forecast at 6.5 per cent.

In other scenarios, growth will come in at 5.5 per cent and 6 per cent.