Addressing the event on Thursday, Prime Minister Nguyen Xuan Phuc emphasized on breakthroughs in institutional reform, infrastructure and human resources development in its strategic development plan from 2021 to 2030. Chairing the plenary session on “Action for a prosperous Vietnam,” Mr. Phuc said: “First, peaceful environment with political stability will fuel rapid and sustainable development. Second, economic institutional reform should be implemented towards modern market economy for integration to serve people and businesses in digital economy and society. Third, internal potential should be unlocked to promote new technology and dynamic private sector focusing on corporate sector as an engine for growth. Fourth, independent and self-reliant economy with resilience and adaptation for the United Nations Sustainable Development Goals 2030 to ensure prosperity for all. Fifth, foreign relations expansion, active international integration and efficient implementation of signed FTAs to join global value chains.”

The Prime Minister recognized foreign experts’ comments on limitations and possible risks, especially in adaptation capacity, digital economy access limitation and mid-income trap. He said “We have to promote our innovation and application of science and technology so that more businesses will join global value chain and benefit from technological transfer for higher position in the global value chain. This would help us improve our competitiveness and capacity for the whole economy and each product while gaining more confidence in rapid and sustainable development without falling in the mid-income trap.”

The outcomes of the forum will serve as input for the Government to design socio-economic development strategy for the next decade.