Double-digit growth

The goal of achieving double-digit growth in the coming period is not merely an economic target, but a declaration of the nation’s development aspirations in a new era. When viewed in connection with the Socio-Economic Development Plan, national financial strategy, public debt management, and the medium-term public investment plan for 2026–2030, this objective is clearly embedded within a comprehensive policy framework - one that both creates momentum and imposes strict constraints.

A notable point is that high growth must go hand in hand with maintaining fiscal discipline. Orientations on national finance indicate that the Party is not willing to trade macroeconomic stability for short-term speed. Controlling budget deficits, keeping public debt within safe limits, and improving the efficiency of borrowed capital are fundamental principles. History has shown that many economies have paid a heavy price for pursuing overheated growth through excessive credit expansion and inefficient investment.

Public opinion suggests that the double-digit growth target requires a fundamental transformation of the development model. Growth can no longer rely primarily on capital, cheap labor, or processing and assembly; instead, it must be driven by productivity, innovation, and deeper participation in global value chains. This also entails stronger investment in science and technology, education, and high-quality human resources.

At the same time, it is essential to address existing “bottlenecks” in land management, investment procedures, and the business environment to enhance the efficiency of all resources. Achieving high growth demands a more transparent and effective administrative apparatus, reducing costs for businesses and unlocking development drivers.

However, concerns remain over potential risks associated with setting such an ambitious target. Pressure to accelerate disbursement may lead to loosened investment discipline, rising public debt if efficiency is not ensured, or macroeconomic imbalances if growth exceeds the economy’s absorptive capacity. These concerns do not aim to dismiss the goal, but rather to ensure that the path toward it is sustainable.

Therefore, double-digit growth is not simply a figure to be attained, but a measure of a broader transformation process. If the 2026–2030 period truly becomes a phase of strong reform, upgrading the growth model and effectively mobilizing resources, high growth will be a natural outcome. Otherwise, without fundamental changes, the target will remain an aspiration rather than a reality.

Duy Anh