Vietnam adopts new growth model aiming for high‑income status by 2045

At the 14th National Party Congress, Vietnam’s leadership approved a resolution to overhaul the country’s development model. The new strategy shifts focus from expanding inputs and low‑cost labour to boosting productivity, science‑technology, innovation and high‑quality human resources, with the goal of reaching high‑income status by 2045 and laying foundations for the next 100‑year development vision.

President Tô Lâm stressed that continuing to rely on cheap labour, raw‑material exports and low‑value foreign investment would leave Vietnam “behind”. He called for the economy to move toward knowledge‑based growth, leveraging data, AI and digital transformation, while improving infrastructure, credit efficiency and education to support the transition.