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Vietnam’s development orientation after 12th National Congress of the Communist Party
December 20, 2015, 2:46 pm

Located in ASEAN zone, and recognized for its political stability, Vietnam is looking forward to a significant milestone, the 12th National Congress of the Communist Party, which is scheduled to be held in January 2016.

Over the past 30 years, under the leadership of Communist Party and its process of innovation and economic development, Vietnam’s foreign relations and international integration is increasingly intensive and effective. Vietnam so far has established diplomatic relations with over 185 nations and signed more than 90 bilateral trading agreements and 10 FTAs excluding WTO. Vietnam has been recognized by 59 countries as a market status economy country with its products presented all over the world.

Based on these achievements, there is no doubt the upcoming 12th National Congress will keep directing Vietnam to make enthusiastic and active international integration on the foundation of equality and mutual benefit; to complement all commitments in ASEAN and WTO and take part in new free trade agreements. Vietnam will also intensify the cooperative relations.

In order to guarantee successful integration, Vietnam has to optimize internal resources, closely associate and promote the improvement of comprehensive national power and competitiveness. It will continue to diversify and multilateralise international economic cooperation and maintain not to be dependent on any particular market or partner as well as consider Middle East as the area Vietnam prioritizes to cooperate in the future.

In term of economic developing orientation, the Communist Party aims to follow the model of market-oriented economic model. The model is seen as an advanced and progressive; complying with the market principles, government’s management and Communist Party’s leadership; taking the goal of maintaining rich people, a strong country, an equitable, democratic and civilized society”, specifically: The annual economic growth during 2016 – 2020 is as high as 6,5 – 7 percent; by 2020, the gross domestic product will reach from $3200 to 3500; the proportion of industry and service sector in GDP will exceed 85 percent; the social labor productivity will increase by 4 – 5 percent; the urbanization rate will reach 38 – 40 percent.

According to the current economic model, all subjects of Vietnam’s economy are equal, cooperate and compete under law rules. The role of the people in economic and social development is protected and promoted. Vietnam will keep focusing on industrialization and modernization in agriculture sector and rural areas; developing the knowledge economy, improving the competitiveness in science and technology; improving the system of regulation and enhancing economic management.

Moreover, Vietnam is growing the modern service sector with higher rate than that in manufacturing sector and the GDP growth. The development concentration will placed in advantageous sectors; promoting potentials and favorable conditions in each local area; constructing a number of economic zones to boost growth and testing breakthrough models of local economic development.

In general, Vietnam’s developing orientation will keep directing its socialist-oriented market economy to flourish and push its integration with world’s economy.

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