Double-digit growth target: Must innovate economic model

Mobilize all economic forces

Dr. Le Dang Doanh, former Director of the Central Institute for Economic Management, stated that the reform of the economic management model should aim at the goal of enabling businesses, entrepreneurs, scientists, experts, and even households to do business, thereby participating in major national projects. “ Only then can we make the most of and promote resources and foundations to achieve the set goals, ” said Mr. Doanh.

According to Mr. Doanh, it is necessary to increase the proportion of industry and services of domestic enterprises. Currently, Vietnam is relying too much on foreign investment. It is time to build a team of national enterprises, and upgrade households to enterprises. Because only when they become enterprises, can households take advantage of the benefits of signed free trade agreements.

“ Households do not have legal status, while connecting with foreign countries requires many clear terms such as address, legal entity... to be able to conduct transactions, ” Mr. Doanh explained.

According to experts, reforming the economic management model will help the apparatus develop smoothly and can improve GDP growth by 1-2%. (Illustration photo)

Mr. Doanh further analyzed: Currently, Vietnam has 101 million people, but only about 800,000 businesses are operating, the number of businesses per capita is too low. Meanwhile, in Hong Kong (China), on average, 1 person over 18 years old participates in 3-4 businesses.

" A university lecturer friend of mine shared that he participated in shares of a company, helped this company with legal matters, then invested in another company and also invested in real estate. He worked 12-14 hours a day. So, as a university lecturer, he also contributed to and created value for the economy ," Mr. Doanh cited.

Experts emphasize that it is important to note that GDP is only created by agriculture, industry, and workers... Therefore, the labor force and participation in production and economic activities need to be focused on developing in the process of reforming the economic model.

We must increase the proportion of domestic industry and services. Currently, Vietnam relies too much on foreign investment. It is time to build a team of national enterprises and elevate households to become enterprises.

Dr. Le Dang Doanh

However, Mr. Doanh also recommended that businesses must join together to grow. “ The economic management model needs to promote national enterprises to bring the Vietnamese brand, thereby creating great value. Avoid the haste to change in a short time to rely on foreign enterprises. This is acceptable at a certain stage, but now when we want to grow steadily at 8-10%, we cannot do so, ” he recommended.

Meanwhile, Dr. Le Duy Binh, Director of Economica Vietnam, said that Vietnam is shifting from relying on capital and labor to a growth model based on science, technology and innovation. However, the actual efficiency is not high. The economy still relies heavily on labor, and the level of technology is very limited. The added value of the economy and key industries remains low.

Therefore, according to Mr. Binh, it is necessary to resolutely focus on technology and innovation. “ This is a long-term and inevitable goal, an opportunity and a path for Vietnam to escape the middle-income trap and become a developed, high-income country. The transformation of the economic model requires further investment, reception, and development of technology, thereby gradually moving towards innovation, creating new technologies, products, services and business models. We need to upgrade infrastructure and train human resources to best support the transition to this new economic model ,” he said.

Businesses need a one-stop mechanism

Economists also believe that the biggest goal of the economic management model reform process must be to create an open investment environment to attract resources most effectively. Speaking at the 17th Vietnam Economic Scenario Forum - VESF 2025, former Deputy Minister of Planning and Investment Dang Huy Dong analyzed: Vietnam's current economic development management system originates from a centralized economic management model. Over the past decades, Vietnam has adjusted regulations to suit the integration process, contributing to significant economic achievements. However, if the current management method is maintained, it will be difficult to achieve major goals.

For example, there are projects that take 5-7 years to be approved, which will hinder the development efforts of the business. Therefore, it is necessary to redesign the management system, optimize the process and shorten the project approval time.

In addition, it is also necessary to change the management method in the direction of gradually shifting from quantity to quality, taking results as the goal to streamline procedures, focusing on the final results. If management is based on final results, the procedures will be much simpler and faster. In addition, management based on results also helps reduce administrative risks for civil servants.

Sharing the same view, expert Le Dang Doanh emphasized that reforming the economic management model must create an open mechanism, preferably a one-stop shop and one-level decision-making mechanism to shorten the approval time for procedures and licenses, thereby helping businesses not to waste time, effort, costs and miss opportunities.

Besides, the open mechanism will also easily help households and small businesses participate in the development of the economy in general.

If a transparent management mechanism can be created, it will help businesses save a lot of time and money to reinvest in economic development. (Illustration photo)

He commented that currently, domestic enterprises are facing many difficulties when in order to carry out a project or production activity, they have to face many "sub-licenses". Therefore, he suggested reviewing the economic management model, and any steps that still cause difficulties for enterprises should be studied and eliminated immediately if possible.

“ We must have a transparent economic management system. From the enterprise, it only takes one step to reach the management agency with the right to decide. Only then will the complicated situation, harassment or overlapping sub-licenses be eliminated. From there, enterprises can save time and money, to focus on reinvestment, and the quality of work will also increase, ” the expert suggested.

In addition, the new economic management model must be public and transparent. This is a very important issue, because only when it is public and transparent will there be no corruption or waste, and money will be used for the right purposes and effectively.

In a recent working conference with the Prime Minister, a representative of the Housing and Urban Development Corporation (HUD) stated that the unit encountered many difficulties in the process of investing in the construction of social housing and recommended that the Government allow shortening the bidding process to reduce unnecessary procedures and time, which are costly for businesses.

Transforming the economic model requires further investment, adoption and development of technology, thereby gradually moving towards innovation, creating new technologies, products, services and business models.

Dr. Le Duy Binh

Economist Nguyen Bich Lam also commented that if a transparent management mechanism is created, it will help businesses a lot. “ Bottlenecks in procedures will be cleared, the situation where businesses encounter difficulties right from the start will be eliminated, thereby helping businesses move faster, develop more sustainably, and contribute more to the country's economic growth target, ” said Mr. Lam.

Experts also proposed focusing on developing a digital government so that management procedures can take place as quickly and smoothly as possible. Accordingly, businesses only need to push information to the management database, and the authorities will handle and respond immediately on this system. Businesses can receive results immediately or within a certain period of time, without going through any intermediary steps.

New thinking cannot run on old laws.

Economic experts also commented that another issue that needs to be improved when reforming the economic model is legality - an indispensable corridor for businesses to operate legally and effectively.

Currently, innovative thinking cannot be compatible with old laws, especially in the context that many legal regulations only solve temporary problems that cause certain obstacles in State management. Some regulations are even not closely following reality, leading to infeasibility, hindering socio-economic development.

Therefore, it is necessary to strongly eliminate many overlapping documents. At the same time, it is necessary to innovate the thinking of law enforcement towards goals and results, not just procedures.

Dr. Nguyen Duc Kien, former Head of the Prime Minister's Economic Advisory Group, analyzed: Currently, the State is making great efforts to reform and streamline the economic management administrative apparatus. However, there are still many things that need to be changed in management thinking. Most domestic enterprises are small and medium-sized enterprises. Therefore, with the current complicated administrative procedures, many enterprises cannot operate smoothly and develop as expected.

Therefore, it is necessary to reform drastically and effectively; ensure publicity, transparency and openness in the law-making process.

Institutional reform in the direction of eliminating unreasonable regulations and business conditions that are not in line with the market mechanism. Decentralization and strong delegation of power to local authorities, creating a driving force for healthy competition among localities in attracting investment and promoting economic development. In addition, there needs to be close coordination and supervision between the Government and management levels to accelerate the reform process.

Reporter team

Vtcnews.vn

Source: https://vtcnews.vn/muc-tieu-tang-truong-2-con-so-phai-doi-moi-mo-hinh-kinh-te-ar930401.html