Digital Transformation Drives Sustainable Growth for Vietnam’s Economy
The digital economy is set to be a significant engine for Vietnam’s future economic development, projected to contribute 20% to the country’s Gross Domestic Product (GDP) by 2025 and an even more ambitious 30% by 2030, according to statements from the Ministry of Planning and Investment (MPI).
At the recent 2025 Vietnam Socio-Economic Forum, Deputy Minister of Planning and Investment Trần Quốc Phương highlighted this crucial digital transition, noting that the digital economy is now considered one of the most pivotal accelerators of productivity, efficiency, and competitiveness across all sectors.
He emphasized that digital transformation is not merely a technological upgrade but a fundamental shift toward a more sustainable and inclusive economic model.
The Deputy Minister also pointed out that the application of digital technologies, particularly in public administration, is vital for achieving the government’s goal of comprehensive administrative reform.
This shift is intended to create a more favorable, transparent, and competitive environment for businesses and citizens alike.
The focus is on leveraging digital tools to enhance the delivery of public services, simplify complex bureaucratic procedures, and significantly improve the overall interaction between the state and the people.
Furthermore, the push for digital transformation is intrinsically linked to enhancing the nation’s ability to attract high-quality foreign direct investment (FDI), as global investors increasingly prioritize locations with advanced digital infrastructure and highly skilled human resources capable of navigating the demands of a sophisticated digital economy.
Leveraging Technology to Achieve Macroeconomic Stability
Alongside the digital focus, the government is committed to a multi-faceted strategy to maintain macroeconomic stability, control inflation, and enhance the resilience of the financial system, which are all essential for sustaining rapid, long-term growth.
The government has prioritized strict management of monetary and fiscal policies to keep inflation under control, a key factor for ensuring the stability necessary to encourage both domestic and international investment.
Concurrently, efforts are being made to strengthen the banking and financial systems, bolstering them against external economic shocks and ensuring they can effectively channel capital to productive sectors, including the emerging digital economy ventures.
The Deputy Minister stressed that these macroeconomic foundation-building efforts must be synchronized with structural reforms.
These reforms target the restructuring of state-owned enterprises (SOEs), the modernization of the public investment system, and the continuous refinement of the national planning system.
The goal is to allocate resources more efficiently, reduce wastage, and ensure that public spending yields the highest possible social and economic returns.
The strategic use of technology in these structural reforms, such as implementing digital monitoring systems for public projects, is expected to significantly improve efficiency and accountability.
This integrated approach ensures that the rapid adoption of digital transformation is supported by sound, stable, and well-managed macroeconomic conditions, creating a robust platform for the digital economy to fulfill its ambitious GDP contribution targets in the coming years.
Policy Recommendations for Sustained Economic Momentum
Experts and officials have put forth several key policy recommendations to ensure that Vietnam’s current economic momentum is not only sustained but also channeled toward truly inclusive and sustainable outcomes.
Dr. Cấn Văn Lực, a member of the National Financial and Monetary Policy Advisory Council, emphasized the need for authorities to take decisive action on five specific “bottlenecks” in the economy: the development of both the stock and corporate bond markets, improvements in the management of the real estate sector, better capitalization of social resources for investment, and a focus on resolving difficulties in accessing capital for businesses.
These areas require targeted policy intervention to unlock further potential and mitigate systemic risks.
Furthermore, Nguyễn Tú Anh, director of the General Economics Department, recommended prioritizing measures that promote sustainable and efficient economic models.
Specifically, he advocated for policies that favor green and digital growth drivers, moving away from traditional, resource-intensive industries.
Mr. Tú Anh also called for greater investment in research and development (R&D) and a dedicated effort to upskill the workforce to meet the complex demands of the Fourth Industrial Revolution (4IR), which is inextricably linked to the growth of the digital economy.
Successfully addressing these financial and human resource challenges, while rigorously pursuing the digital transformation agenda, will be critical for Vietnam to transition to a high-income, developed nation status by 2045, making the digital economy a central pillar of the nation’s long-term prosperity.
