History has shown that Vietnam has always seized opportunities to overcome challenges and achieve glorious victories, accomplishing great feats in the nation’s history. Yet the new era demands that we unleash every driving force across all spheres of political, economic, and socio-cultural life to realize the aspiration of a decade of independence.
Renewing Thinking, Igniting Aspirations
In recent days, the country has been brightly adorned with the red flag with a yellow star, a symbol of the joyful hearts of millions celebrating independence. Over the past 80 years, under the leadership of the Communiste Party (the Party) and the beloved President Ho Chi Minh, the entire Vietnamese people have continuously worked, fought, sacrificed, and devoted all their heart, talent, intellect, and strength to gain, preserve, and elevate the nation to new heights of wisdom, resilience, and aspirations for the future. Notably, in his speech at the 80th Anniversary of the August Revolution and National Day (September 2) celebration, General Secretary To Lam affirmed that no obstacle or reason can prevent us from achieving peace, prosperity, and the enduring development of our nation.
In order to achieve the country’s current stature and position, our nation, under the leadership of the Communiste Party, has overcome numerous difficulties and challenges. History has shown that there were times of extreme peril, moments of isolation and sanctions from the international community. Yet, under the Party’s guidance and the unity of the entire nation, we have seized opportunities to overcome challenges, achieve glorious victories, and accomplish great feats in the nation’s history.
In particular, the Renovation (Doi Moi) process initiated and led by the Party in 1986 created new development opportunities after centuries of poverty, backwardness, and international isolation. Thanks to these efforts, Vietnam’s economy today ranks 32nd in the world, with a projected GDP of USD 510 billion in 2025. Vietnam has signed 17 Free Trade Agreements with over 60 partners, most of them major economies across continents, representing nearly 90% of global GDP, making it one of the world’s top 20 countries in international trade volume. Vietnam maintains diplomatic relations with 194 countries and territories, including comprehensive strategic or strategic partnerships with all five permanent members of the UN Security Council and numerous G20 countries.
These proud achievements form the foundation for the national conference on the implementation and review of Resolution No. 18-NQ/TW on “Some issues regarding the continued renovation and reorganization of the political system to be streamlined, effective, and efficient.” At this conference, General Secretary To Lam affirmed that Vietnam possesses the capability, strength, will, and determination to step into a new era—a new era of national development and prosperity.
Assoc. Prof. Dr. Bui Thi An, Deputy Chair of the Economic Advisory Council under the Central Committee of the Vietnam Fatherland Front, emphasized that the “New Era – the Era of the Nation’s Ascendancy” is a monumental revolutionary undertaking, encompassing the entire Party, the whole people, and the nation as a whole. It reflects the aspiration to elevate the country’s renovation efforts to a higher level, yet it is also a challenging endeavor requiring strong, decisive reform measures across all areas of political, economic, and socio-cultural life. Therefore, new, bold policies and breakthrough measures must continue to be implemented to remove obstacles and foster development.
Experts shared the same view that for the Vietnamese nation to enter a new era of prosperity, it must not only achieve economic wealth but also political, cultural, and social strength. This demands a shift in thinking, awareness, vision, and decisive action, unleashing all driving forces for national development. The Politburo’s issuance of resolutions on national innovation and digital transformation, on international integration under new circumstances, on the renovation of law-making and enforcement, and on private sector development demonstrates the Party’s will and determination to prepare the nation optimally for the New Era.
These resolutions not only affirm the Party’s unified leadership and the coordinated, creative engagement of the entire political system but also emphasize the substantive participation of businesses, citizens, and intellectuals, with the goal of building a solid foundation for Vietnam to achieve rapid and sustainable development.
Vietnam is entering a new era of prosperity, marked not only by economic wealth but also by strength in politics, culture, and society
Unlocking the drive for a breakthrough
Although Vietnam enjoys fundamental advantages, the country still faces numerous internal and external obstacles that demand strong resolve, effective solutions, and a clear focus on removing key bottlenecks to drive breakthrough development. Globalization and the Fourth Industrial Revolution present many opportunities, but they also carry the risk of falling behind and getting stuck in the middle-income trap if Vietnam cannot create a bold, strategic leap like a carp leaping the Dragon Gate to become a dragon.
Professor Phung Huu Phu, former member of the Party Central Committee and former Standing Vice Chairman of the Central Theoretical Council, noted that the institutional framework remains “the bottleneck of all bottlenecks.” Institutions form the foundation that determines the progress of other sectors. When regulations are restrictive or outdated, they hinder growth in every field and generate further bottlenecks.
In practice, the quality of lawmaking in recent years has not kept pace with development needs. Some newly enacted laws have required early amendments; regulations are not fully consistent and often overlap; many provisions still cause difficulties in implementation, leading to resource losses and inefficiencies; and the legal environment has yet to become truly conducive to attracting both domestic and foreign investment.
Dr. Nhi Le, former Editor-in-Chief of the Communist Magazine, emphasized that Vietnam must first continue to build and strengthen its political momentum: a strong Party, a clean and upright State, and a people-centered approach. Without solid politics, sustainable development is impossible. The Party should remain the creative core, enlightened and constantly renewing its leadership mindset, while advancing the socialist rule-of-law state on three key pillars: institutional reform, governance reform, and a streamlined administration that serves the people and aligns national interests with the power and wisdom of its citizens.
Equally important is placing people at the heart of development strategy, transforming human resources into the driving force of creativity. This means fostering aspirations for prosperity and a spirit of national pride, resilience, and determination to overcome every challenge. Education must undergo fundamental reform to nurture citizens of intellect, ethics, and responsibility. At the same time, institutional reforms need to be comprehensive, transparent, and effective, reducing administrative interference while giving businesses, communities, and localities greater autonomy. These, Dr. Le said, are the Party’s “sword of leadership and governance.”
In order to make science and technology the backbone of a self-reliant economy and a modern national brand, Vietnam must invest heavily in digital transformation, Industry 4.0, artificial intelligence, and clean energy, while fostering an innovation ecosystem spanning education, business, policy, and talent. Economic growth should go hand in hand with a revival of national culture, never trading culture or ecological values for short-term gains. It also requires restoring core social values such as integrity, civic ethics, and a culture of democracy, lawfulness, innovation, and public service.
Finally, Dr. Le stressed the need to energize integration and development with a distinctly Vietnamese identity: “Proactive, comprehensive integration must rest on independence and self-determination, always serving national interests with Vietnamese courage. Vietnam should strive to be a trusted partner, an active member, and a regional and global connector—contributing to a multipolar, democratic, and sustainable world order, and enhancing national stature, strength, and reputation on the international stage.”
The Banking Times
