Vietnam Focuses on Knowledge and Technology for New Growth Model
Experts argue that Vietnam must transition from resource exploitation and cheap labor dependency to a new growth model based on knowledge and technology.
To reduce dependence on resource exploitation and cheap labor in Vietnam's economic development, knowledge and technology are planned to become the primary driving forces.
Core Elements of the New Growth Model
Experts state that knowledge and technology are among the most critical elements to help the country make a breakthrough and enter a new era.
With the realization of this transformation, the current economic structure is aimed to be established on a more sustainable and efficient foundation.
Emphasis on Four Strategic Shifts
General Secretary and President To Lam made significant statements at the third meeting of the 14th Central Committee of the Communist Party of Vietnam.
The meeting outlined four strategic shifts involving the creation of a development model based on productivity, knowledge, technology, and human resources.
Transformation in Production and Resource Allocation
Prof. Dr. Nguyen Xuan Cu, Deputy Director of the Center for Environmental Economy, made evaluations regarding the issue.
Cu stated that this transformation requires simultaneous changes in production methods, resource allocation, and the creation of competitive advantages.
Commercialization of Technology and Investments
Prof. Dr. Nguyen Van Noi, Chairman of the Vietnam Testing Laboratories Association, drew attention to the importance of science and technology.
Noi emphasized that it is critical to transform science into productivity and added value, and that the state should invest in international standard testing centers.