An automobile assembly line (Photo: Duc Phuong/VNA)

The resolution sets the target of revamping the growth model and improving the productivity, quality, competitiveness, self-reliance, adaptation and resilience of the national economy.

Under the resolution, labor productivity is projected to grow by more than 6.5% annually, and the gap in national competitiveness with ASEAN-4 (Indonesia, Malaysia, Philippines, and Thailand) will be narrowed by 2025.

The stock market capitalization will reach at least 85% of GDP. Vietnam strives to have some 1.5 million enterprises, of which 60,000-70,000 will be medium and large-sized firms. The private economic sector is expected to contribute around 55% of the GDP. At least five national products will become international brands.

Among 35,000 cooperatives set by the end of 2025, more than 3,000 will utilize advanced technologies in production and consumption, and 50% of agricultural cooperatives are expected to set up connectivity with businesses in value chains.

To meet the targets, the resolution focuses tasks on restructuring public investment, State budget, credit organizations, and public non-business units.

Other tasks include the development of the financial, land and labor markets, improvement of the efficiency of the allocation and use of human resources, and corporate, collective economy and cooperatives development.