Vietnam’s Communist Party Embraces New Development Model at 14th Congress
At the recent 14th Congress of the Communist Party of Vietnam (CPV), significant emphasis was placed on a new development model. The focus is on innovation, improving productivity, and enhancing the quality and competitiveness of the national economy.
Strategic Shift in Vietnam’s Economic Development
This strategic shift comes as Vietnam transitions from relying on low-cost labor and extensive growth. It aims to embrace a sustainable and inclusive growth model that aligns with contemporary global economic trends. According to experts, such a transformation is necessary for Vietnam to thrive in the current economic landscape.
Key Insights from Leaders
Trân My, who leads the Vietnam Innovation Network in France (VINEU France) and presides over the Association of Young Vietnamese Entrepreneurs in Europe (VYBE), shared critical observations about this new direction. She highlighted the importance of investing in research, innovation, and high-value industries.
Trân My pointed out that Vietnam could establish new growth hubs similar to the Paris-Saclay innovation cluster in France. This model demonstrates how collaboration between government, businesses, research institutes, and universities can spur significant growth.
Emerging Opportunities and Sectors
- Digital technologies
- Semiconductors
- Renewable energy
- Smart logistics
- Aerospace
Trân My emphasized that growing interest in these sectors signifies that the CPV’s strategic orientations resonate with global investment trends.
Encouraging Young Entrepreneurs
From the perspective of young Vietnamese entrepreneurs, the trust in businesses and investors hinges on more than financial incentives. Stability in institutional frameworks and long-term support from the government are essential.
She advocates for establishing a stable and transparent political environment and urges the creation of dedicated support mechanisms for young Vietnamese entrepreneurs abroad. This approach would encourage their involvement in policy-making and address critical national issues.
Learning from Global Examples
Trân My cited India’s “Pravasi Bharatiya Divas,” an initiative that fosters dialogue between the government and the diaspora to encourage investments and partnerships. She believes that Vietnam should develop similar frameworks to strengthen connections with its overseas entrepreneurs.
Moreover, she emphasized the need for innovative support programs for startups, joint investment funds, and regulatory frameworks conducive to technological companies.
Capitalizing on Financial Resources
The annual flow of remittances to Vietnam, over $19 billion, should be strategically directed towards investments in advanced technologies, green energy, and smart logistics. Simplifying administrative procedures and enhancing fiscal clarity are equally important.
According to Trân My, a proactive and coherent long-term approach could turn the younger generation of Vietnamese entrepreneurs abroad into a crucial asset in achieving the development goals set forth by the 14th Congress of the CPV.
The post Vietnam’s Communist Party Embraces New Development Model at 14th Congress appeared first on CDN4 - Filmogaz.
