Vietnam aims to innovate development model for new era

Vietnam is embarking on a significant transformation of its development model to align with the requirements of a new era, moving away from traditional growth drivers. A national seminar in Hanoi, co-organized by major media outlets and universities, highlighted the need for a paradigm shift.

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The next phase must shift strongly towards improving the quality and efficiency of resource utilization and creating new drivers: from growth based on capital, resources, and labor to growth based on productivity, knowledge, science - technology, innovation, and high-quality human resources.

Journalist Le Quoc Minh, Editor-in-Chief of Nhan Dan newspaper, stated that the current development context differs greatly from the start of the "Doi Moi" (renovation) period. He emphasized a transition towards enhancing the quality and efficiency of resource utilization. Future growth should rely on productivity, knowledge, science, technology, innovation, and high-quality human resources, rather than solely on capital, resources, and labor.

Experts also stressed the importance of reforming national governance. Dr. Nguyen Si Dung, former Deputy Director of the National Assembly Office, highlighted effective time management by leadership as crucial, given that time is the scarcest resource. He argued that senior leaders should focus on strategic decisions, as delegating minor issues can leave major ones unaddressed.

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If leaders' time is spent deciding trivial matters, then major issues will be neglected because no one else has that authority.

Associate Professor Tran Dinh Thien, former Director of the Vietnam Institute of Economics, pointed out that Vietnam's development model still relies heavily on land and low-skilled labor. He called for a shift from a growth model to a development model, emphasizing the need for a competitive, fair, and healthy business environment. Thien also underscored the importance of mastering artificial intelligence (AI) and addressing the challenges faced by the private sector, which is considered a key driver of the economy.

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The key point is to ensure a free, equal, and healthy competitive environment for businesses.