Vietnam Focuses on Innovation and Digital Transformation for the 2026-2030 Period

Following 40 years of the Doi Moi process, Vietnam has reached a GDP of $514 billion. To achieve the planned growth target of 10% and above for the 2026-2030 period, the country is focusing on science, technology, innovation, and digital transformation instead of relying on investment and labor increases.

Economy Developing After Doi Moi

According to Le Trung Hieu, Deputy Director General of the General Statistics Office under the Ministry of Finance, Vietnam has transformed from one of the world's poorest countries into a dynamic economy with a GDP of $514 billion, while the poverty rate dropped from 58% in 1993 to below 3% in 2025.

Growth Strategy in the New Era

As Vietnam enters a new development phase, facing an aging population and shrinking workforce expansion potential, more efficient growth engines must be established to target growth of 10% or more in the 2026-2030 period.

Productivity and Digital Transformation Potential

While Vietnam's labor productivity lags behind regional countries, this situation holds great potential for increasing productivity through digital transformation and innovation rather than expanding input factors.

The size of Vietnam's digital economy reached $39 billion in 2025, making the country Southeast Asia's second-fastest-growing digital economy.

R&D and Current Challenges

Although innovation and digital transformation show positive signs, the country's R&D expenditure accounts for only about 0.4% of GDP, and these expenditures need to be improved to accelerate digitalization.