PM chairs meeting on science, technology for socio-economic development

Prime Minister Le Minh Hung convened a meeting in Hanoi on September 28 to discuss the role of science, technology, innovation, and digital transformation in driving Vietnam's socio-economic growth. The Prime Minister, who heads the Central Steering Committee on these matters, emphasized that Vietnam can no longer rely solely on cheap labor and capital for strong double-digit growth. Instead, he argued that boosting productivity through these fields is crucial for maintaining high growth rates.

The meeting aimed to refine the implementation of Party resolutions, particularly Resolution No. 19-NQ/TW on renewing the development model, and directions from the Politburo and General Secretary on digital transformation. PM Hung asked participants to evaluate the contributions of science, technology, and digital solutions to the growth model, especially the goal of achieving double-digit growth.

He stressed that GDP growth in the first half of 2026 was 8.18%, and for Vietnam to meet its annual target of nearly 12% growth in the second half, stronger efforts are required across all sectors.

PM Hung highlighted that while traditional growth drivers like investment, consumption, and exports remain important, Vietnam can no longer depend on capital and cheap labor. He noted that Resolution No. 57 sets a target for the digital economy to constitute at least 30% of GDP by 2030, with Total Factor Productivity (TFP) expected to contribute over 55% to growth.

To meet these targets, PM Hung stressed that science, technology, innovation, and digital transformation must evolve beyond a supporting role to become direct and measurable growth drivers.

Despite progress in institutional frameworks, digital infrastructure, data systems, and online public services, actual results have fallen short of expectations. The Prime Minister identified implementation capacity and accountability, especially among leaders, as the main bottleneck. He called for a shift in focus from measuring inputs to measuring growth outcomes, prioritizing labor productivity, digital technology revenue, added value, and contributions to local and national economic growth.

PM Hung urged ministries and localities to prioritize digitalizing key industries, developing the data economy and digital technology enterprises, leveraging public procurement and investment as initial markets, and expanding digital skills, education, healthcare, and payments while ensuring cybersecurity and personal data protection.

He tasked each ministry, sector, and locality with identifying immediate tasks, specific products, deadlines, and measurable contributions to their growth targets following the meeting.