Prime Minister Pham Minh Chinh has called for comprehensive policies to attract and retain skilled professionals, emphasizing the need for competitive salaries, housing support, and visa incentives for scientists, experts, and global influencers.

As head of the 14th National Congress Economic-Social Subcommittee, the prime minister chaired the subcommittee’s fourth meeting, focusing on refining the draft Economic-Social Report following discussions at the 10th Central Committee meeting.

Compared to earlier versions, the latest draft incorporates updated economic performance data and outlines Vietnam’s ambitious 8% GDP growth target for 2025, with double-digit growth expected in subsequent years.

Driving breakthroughs in governance, infrastructure, and human capital

Prime Minister Chinh stressed that the report must accurately reflect Vietnam’s economic reality, avoiding exaggeration while clearly identifying challenges and institutional bottlenecks. Key issues include overlapping regulations, excessive bureaucracy, and a risk-averse approach to policymaking that stifles innovation and economic expansion.

“We must think beyond current limitations and push past our own boundaries,” the prime minister stated.

In the strategic roadmap for economic reform, he outlined three key priorities:

Institutional reform – Expanding decentralization and autonomy for local governments while ensuring accountability. Governance frameworks should unlock resources, unleash productivity, and promote human capital, technological innovation, and digital transformation.

Infrastructure development – The central government will focus on national and interregional infrastructure projects, while local governments must take responsibility for regional and provincial infrastructure development.

Human capital and workforce development – Strengthening high-quality workforce training, offering competitive salaries and housing policies to attract and retain top talent. Vietnam will also introduce visa programs targeting scientists, industry experts, billionaires, and global influencers to encourage investment and knowledge transfer.

Chinh emphasized the need to create an integrated research ecosystem, strengthening collaboration across natural sciences, social sciences, and technology sectors. He also stressed that technological innovation, digital transformation, and research-driven policies should be the foundation of human capital development.

Fostering private sector-led growth and innovation

Vietnam is aligning its economic strategy with Resolution 57 of the Politburo, which prioritizes breakthroughs in science, technology, and digital transformation as pillars of rapid and sustainable growth. The government plans to allocate 3-5% of the national budget for science and technology.

Chinh also emphasized the need for smart governance, leveraging AI-driven solutions in policymaking, administration, and public services.

Acknowledging General Secretary Nguyen Phu Trong’s directive, the prime minister called for the establishment of a national one-stop investment promotion center to streamline public-private partnerships and foreign investment attraction.

“We must clearly define how we mobilize resources and implement models that ensure efficiency,” he stated.

To maximize investment impact, Chinh stressed that funding must be focused on high-impact projects, avoiding wasteful or superficial spending. He reaffirmed that private enterprises should be the primary engine of economic growth, urging the government to delegate major projects to private corporations while maintaining a well-defined role for state-owned enterprises.

Vietnam must also implement stronger policies for startups, innovation-driven businesses, and private-sector champions, positioning local enterprises as regional and global industry leaders.

Investing in human capital and nationwide infrastructure

The prime minister highlighted the need for long-term investments in education, healthcare, and cultural industries to ensure sustainable economic development. He also emphasized improving infrastructure in remote and border areas, particularly electricity and digital infrastructure, to bridge development gaps.

In closing, Chinh urged policymakers to adopt a forward-looking mindset, breaking free from traditional constraints to ensure Vietnam’s continued economic momentum.

“Our economic report must align with the political report and broader strategic vision. It must reflect our ambition and incorporate key directives from the General Secretary,” he concluded.

Quang Phong