Vietnam Economic Times May, 25 2026

Dear readers,

Countries and territories around the world have established a range of different socio-economic development models since the mid-20th century, and it is evident that there is no one-size-fits-all model for every economy. There is also no unified definition of a national development model, as each organization or country has different perspectives, economic thinking, and approaches for determining what this entails.

Regardless, a national development model can be generally understood as a set of mechanisms, financial policies, public investment, infrastructure development, and institutional reforms aimed at shifting the production structure from a low-productivity state to a higher and more sustainable productivity state.

The success of the development model Vietnam has applied for nearly 40 years, since its “Doi Moi” (Economic Renewal) policy was approved by the 6th National Congress of the Communist Party of Vietnam (CPV) in December 1986, is beyond dispute. However, the success of yesterday is often no longer suitable for today or tomorrow, given the changing circumstances.

In the context of science, technology, innovation, and digital transformation playing a dominant role in all aspects of life globally and becoming the central driving force to enhance Vietnam’s labor productivity, improve its competitiveness, and allow it to reach its aspirations for rapid and sustainable development while preventing any risk of lagging behind, the country must transition to a development model based on scientific and technological foundations, innovation, and digital transformation.

According to the socio-economic development orientation for the 2026-2030 period, approved by the 14th National Congress of the CPV, Vietnam’s annual economic growth rate during this period must reach at least 10 per cent. To achieve what is considered the highest growth target in the history of the country’s development, the Party has also established a new growth model based on scientific and technological foundations, innovation, and digital transformation.

At a working session with the Central Commission for Policy and Strategy on assessing national development resources in connection with growth targets and the establishment of a new growth model, held on May 20, Party General Secretary and State President To Lam emphasized that the ambitious goals set out in the documents from the 14th National Party Congress and the 2026-2030 socio-economic development plan cannot be achieved by simply extending the old growth model.

Thus, transitioning to a new growth model based on scientific and technological foundations, innovation, and digital transformation is no longer merely a trend but has become a confirmed strategic choice for Vietnam.

To provide additional information for the national scientific workshop with the theme “Reforming Vietnam’s Development Model Based on Science, Technology, Innovation, and Digital Transformation,” to be co-hosted by the Central Commission for Policy and Strategy, the Party Committee, People’s Council, and People’s Committee of Hai Phong, the Ho Chi Minh National Academy of Politics, and the Central Theoretical Council, and co-organized by the Communist Review, the National Political Publishing House, the Vietnam Economic Association, and Vietnam Economic Times / VnEconomy, in Hai Phong on the morning of May 26, our Cover Story in this edition focuses on analyses, interpretations, and recommendations from academics, experts, and scientists regarding the new development model based on achievements in science, technology, innovation, and digital transformation.

Warmest regards

Dr. CHU VAN LAM
CHAIRMAN OF THE EDITORIAL BOARD