The seminar was attended by about 200 delegates, including: Vice Chairwoman of the Central Executive Committee of the Vietnam Farmers’ Union Bui Thi Thom; representatives of ministries, departments and sectors; Hero of Labor Tran Manh Bao, Chairman of the Board of ThaiBinh Seed; Dr. Can Van Luc, Chief Economist of BIDV, Member of the National Financial and Monetary Policy Advisory Council; Dr. Vo Tri Thanh, Director of the Institute for Brand Strategy and Competitiveness Research, Member of the Prime Minister’s Policy Advisory Council; Mr. Nguyen Quoc Hung, Vice Chairman and General Secretary of the Vietnam Banks Association, along with experts in economics, finance, agriculture, rural development and enterprises in many fields,…

At the Seminar, delegates discussed many core issues of the economy, analyzed from traditional growth drivers to new factors such as science and technology, innovation and digital transformation; opportunities and challenges for Vietnam’s agriculture. Thereby, based on identifying issues, creating a premise for specific policy recommendations.

Economic context and requirements for new growth

In recent years, Vietnam’s economy has maintained macroeconomic stability, controlled inflation and ensured major balances of the economy. However, the current international context contains many risks such as geopolitical conflicts, trade protectionism trends and disruptions in global supply chains. Traditional growth drivers are gradually revealing limitations, requiring new approaches to maintain high and sustainable growth.

Currently, Vietnam’s GDP growth is mainly driven by industry, construction and services, notably manufacturing, wholesale and retail trade, and finance. In addition, three important pillars including science and technology, innovation and digital transformation are opening up new opportunities for the economy. These factors are expected to create momentum for Vietnam to accelerate in the digital economy era.

According to experts, economic growth is not a short-term story but a long-term process associated with national development strategy. Therefore, Vietnam needs to simultaneously innovate growth models to achieve high speed while ensuring sustainability, not exchanging macroeconomic stability or the environment for mere growth.

Dr. Can Van Luc moderates Session 1: “High growth in an uncertain context”

Growth drivers of the economy

According to economic experts, the traditional growth model is based on three main factors: labor, capital and total factor productivity (TFP). In recent years, capital has still accounted for a large proportion, while labor productivity and TFP have improved only modestly. Therefore, achieving higher growth requires promoting all three factors like a “three-legged stool”.

In addition to traditional drivers, new factors such as institutional reform, development of key economic regions, science and technology and digital transformation are considered important resources. However, these require time and synchronous policy coordination to be effective.

Role of agriculture in growth

Although its share in GDP is decreasing, agriculture remains extremely important. In difficult periods, especially during COVID-19, agriculture acted as a “pillar” maintaining stable growth.

Agriculture is the only sector maintaining a trade surplus, reaching about USD 21 billion in 2025. However, it needs to shift from “agricultural production” to “agricultural economy”.

Financial resources for growth

Vietnam’s economy still depends heavily on bank credit and public investment, while capital markets are underdeveloped. Agriculture faces difficulties in accessing capital due to small-scale production and lack of collateral.

Challenges for agriculture

Agriculture still faces many challenges, including low labor productivity and a declining agricultural labor force. In addition, export markets are increasingly imposing strict standards on quality, traceability and sustainability. The sector is also under strong impacts from climate change, while high logistics costs—accounting for around 20–25% of product value—continue to reduce the competitiveness of agricultural products.

Hero of Labor Tran Manh Bao moderates Session 2: “Role and actions of enterprises”.

Solutions to promote agricultural growth

Experts proposed a number of key solutions to promote agricultural growth. These include organizing production into large-scale raw material zones, applying science and digital transformation in production, and promoting deep processing to increase added value. At the same time, it is necessary to improve logistics infrastructure, invest in breeds and production technologies, and develop human resources to meet the requirements of modern agriculture.

The goal of double-digit growth requires strong innovation and resource mobilization. Agriculture continues to play a key role not only economically but also in social stability and sustainability.

To contribute more strongly, agriculture must transform comprehensively, apply technology, develop value chains and improve competitiveness.

In the context of intertwined opportunities and challenges, the determination of the State, enterprises and farmers will be decisive in achieving rapid, sustainable growth and enhancing competitiveness in the new era.