Vietnam PM proposes four initiatives to drive economic growth

Prime Minister Le Minh Hung has proposed four areas of cooperation with international partners to boost innovation, develop high-tech talent, test emerging technologies and attract long-term investment.

Addressing the high-level plenary session of the 2026 Autumn Economic Forum in Ho Chi Minh City on October 28, Vietnamese Prime Minister Le Minh Hung emphasized the importance of strengthening international partnerships to generate new growth drivers amid geopolitical uncertainties, global supply chain restructuring and rapid technological transition.

The Prime Minister underscored that international cooperation must extend beyond policy commitments to produce tangible outcomes through practical mechanisms, feasible projects and measurable results.

His first proposal called for establishing collaborative innovation partnerships among international corporations, Vietnamese enterprises and local authorities. These partnership would support Vietnam's ambition to evolve from a manufacturing hub into a career center for research and development, particularly in A.I., semiconductors and advanced materials.

Second, the Prime Minister urged the World Economic Forum (WEF) and international partners to strengthen cooperation in training highly skilled professionals in digital technologies and advanced scientific fields, thereby enhancing the capacity of Vietnamese enterprises and workers to adapt, apply and master emerging technologies.

Third, he proposed developing regulatory sandboxes to facilitate the controlled testing and responsible deployment of strategic technologies - including A.I. and new energy solutions.

Fourth, the Prime Minister called for greater international cooperation in mobilizing medium- and long-term capital. He highlighted the prospective role of international financial centers in Ho Chi Minh City and Da Nang in connecting global investment resources with Vietnam's infrastructure, energy transition and innovation policies.

These initiatives form part of Vietnam's broader development strategy, which targets average annual GDP growth of at least 10% during the 2026-2030 period while maintaining macroeconomic stability, controlling inflation and ensuring sustainable development.

The Government aims to position Vietnam as a developing country with modern industry and upper-middle-income status by 2030, and as a high-income developed nation by 2045.

Prime Minister Le Minh Hung stressed that achieving these objectives requires comprehensive results to enhance productivity, economic competitiveness and technological capabilities. He also emphasized that deeper international integration must be accompanied by stronger domestic enterprises and greater economic resilience. 

According to economic figures presented at the forum, Vietnam's GDP expanded by 9.01% in the first nine months of 2026, the highest growth rate for the corresponding period since 2011. Total foreign trade exceeded US$50.36 billion, an increase of 76.4%, while dispursed FDI rose 12.1% to US$21.07 billion. Vietnam also ranked 43rd among 139 economies in the 2026 Global Innovation Index, reflecting continued progress in strengthening its innovation ecosystem.

Despite these achievements, the Prime Minister emphasized that Vietnam's development priorities must extend beyond maintaining high growth rates to improving growth quality, increasing productivity and enhancing the value generated by domestic enterprises. He encouraged international investors and business to deepen their engagement with Vietnam through joint research, technology development and innovation partnerships, rather than limiting cooperation to capital investment and manufacturing activities. 

Reaffirming Vietnam's commitment to international cooperation, Prime Minister Le Minh Hung conveyed the Government's determination to establish the country as a reliable partner in global supply and value chains, as well as an increasingly important center for technological innovation. He underscored Vietnam's readiness to work with multinational partners in pursuing shared prosperity, sustainability, and long-term economic resilience.

Business & Integration - Vietnamese version: Thủ tướng Lê Minh Hưng đề xuất 4 hướng hợp tác chiến lược, thúc đẩy động lực tăng trưởng mới; reported by Uyen Nhi