Solve the root causes of "bottlenecks" that hinder growth

22/26 main socio -economic targets were achieved and exceeded; in 2024 and 2025, all 15/15 targets were achieved and exceeded. The size of the economy increased from 346 billion USD in 2020 to 510 billion USD in 2025. GDP per capita in 2025 is estimated at about 5,000 USD, 1.4 times higher than in 2020. Economic structure and growth quality have changed positively. The macro-economy is basically stable, inflation is controlled, and major balances of the economy are ensured. State budget revenue is estimated at 9.6 million billion VND, 1.36 times higher than the previous term. Three strategic breakthroughs have been implemented drastically and effectively, opening up space and creating development. Law-making and enforcement work has been innovated in both thinking and working methods; many "bottlenecks" have been promptly removed.

These results, according to Prime Minister Pham Minh Chinh, are very basic, very valuable and proud; creating a trend of innovation, creating momentum for rapid and sustainable development; creating a force for inclusive and comprehensive development. But besides that, there are still some limitations and difficulties such as the pressure to stabilize the macro economy is still great. Mechanisms and policies are not strong enough to effectively exploit resources from people, nature, culture and to protect the environment. The real estate, gold and bond markets are still complicated, production and business in some fields are still difficult. Science and technology, innovation and digital transformation have not really become the main growth drivers. High-quality human resources are still lacking, especially in key industries; there are still contradictions and overlaps in some legal regulations; administrative procedures are still cumbersome...

From these limitations and difficulties, the question is what to do to achieve the growth target of 10% or more in 2026 and double digits in the following years while still maintaining macroeconomic stability because the balance between growth and stability is always a difficult problem: if growth is too fast, inflation may flare up, but if it is tightened, the growth momentum will weaken?

The answer is to have tight, long-term macroeconomic management and high policy discipline, avoiding hot growth. In addition, it is necessary to clearly define that growth must rely on productivity, science and technology and institutional efficiency. It is necessary to renew and improve the efficiency of traditional growth drivers such as investment, consumption and export. Fiscal and monetary policies need to be closely coordinated, with reasonable stimulus but not loosening; loosening under control, but always maintaining long-term stability.

In addition, it is necessary to fundamentally resolve the "bottlenecks" that are hindering growth capacity, namely institutions, resources, infrastructure, science - technology and innovation. Implement growth model innovation from breadth to depth, promote digital transformation, develop green economy and knowledge economy. Continue to restructure the economy comprehensively and substantially, focusing on three pillars: restructuring industries and sectors towards improving productivity; restructuring economic sectors, promoting the leading role of the state economy; restructuring territories and public investment.

Of all the "bottlenecks" that are holding back growth capacity, institutions are the "bottleneck of bottlenecks" and at the same time the "breakthrough of breakthroughs". Therefore, it requires great efforts from the entire political system, especially the National Assembly, in reforming and innovating institutions to create momentum for growth and development. As National Assembly Chairman Tran Thanh Man emphasized at the group discussion session on October 21: "... there must be a breakthrough in institutions. If we want to make a breakthrough in institutions, the National Assembly itself, when the Government submits to the National Assembly draft laws and draft resolutions to remove difficulties for the country's development and improve the executive capacity of the state apparatus, we must promptly consider and decide".

Source: https://daibieunhandan.vn/giai-quyet-tan-goc-cac-diem-nghen-kim-ham-tang-truong-10392494.html