Associate Professor Phạm Thế Anh, a lecturer at the National Economics University. Photo baodautu.vn

Associate Professor Phạm Thế Anh, a lecturer at the National Economics University, speaks to the Đầu Tư (Investment) newspaper about important resolutions and laws expected to be approved by the National Assembly (NA) this week and their contribution to realising the country's double-digit growth goal for the 2026-2030 period.

The NA has never passed as many laws and resolutions in one session as it has during the ninth session. Do you think this is a way to prepare the institutional framework to achieve double-digit growth in the next few years?

The 15th NA's ninth session has seen a record number of working days, with 11 resolutions and 34 laws expected to be passed. The number of legal documents passed in this session will be a record, many times higher than the average for previous sessions.

In addition to the laws and resolutions passed as part of a programme to achieve the growth target, many important laws and resolutions are expected to be passed to create breakthroughs in institutional frameworks and legal corridors as well as dismantle barriers and maximise the internal capacities and potential of enterprises, organisations and individuals.

The goal is to expand both the scale and depth of production and business activities to achieve high and, more importantly, sustainable economic growth.

Double-digit economic growth is not just a goal but a strong aspiration. How can we achieve this?

The first phase of the ninth session, from May 5 to May 29, passed eight resolutions to institutionalise four resolutions (the 'four pillars') from the Politburo, which include: Resolution 57-NQ/TW (December 22, 2024) on breakthrough developments in science, technology, innovation and national digital transformation; Resolution 59-NQ/TW (January 24, 2025) on international integration in the new context; Resolution 66-NQ/TW (April 30, 2025) on renewing law-making and enforcement to meet the requirements of national development in the new era; and Resolution 68-NQ/TW (May 4, 2025) on the development of the private economy.

These are considered the foundational pillars to drive the country forward in the new era, known as 'the 4.0 era'.

In this context, economic development cannot rely on natural resources or cheap labour, but must depend on science, technology, innovation and creativity.

Although there has been a recent trend of protectionism, even extreme protectionism, in a 'flat world', international integration is inevitable.

Việt Nam has chosen deep integration over protectionism. The current institutional framework has been identified as a major bottleneck. To further develop, this bottleneck must be removed as quickly as possible.

Ultimately, no country develops by relying solely on foreign investment or State-owned enterprises. Private enterprises must be the driving force.

The four resolutions of the Party and the NA resolutions that institutionalise the Party’s resolutions have laid the foundation and created a basis for the economy to enter a new growth era.

The highest legal foundation has been established, and the infrastructure has been built, but there is still a gap between resolutions and real-life implementation. What is your opinion on this?

The resolutions of the Party and the NA have been issued. The Government has directed ministries and sectors to urgently institutionalise them with specific guiding documents to avoid the gap between resolutions and implementation, which has been an issue in the past due to slow, inconsistent and sometimes conflicting guidelines.

In about six months, the plan for socio-economic development for the 2026-30 period will begin, with a goal of achieving double-digit GDP growth.

An urgent task is therefore to translate resolutions into real action, so that businesses, especially private enterprises, no longer face difficulties, obstacles or restrictions.

This will allow this sector to focus its resources on development, making it the most crucial pillar in both medium- and long-term economic growth.

Among the resolutions recently passed by the NA is Resolution No 197/2025/QH15, which outlines special mechanisms and policies to create breakthroughs in law-making and law enforcement.

This resolution proposes a number of special financial mechanisms with outstanding standards and task-based funding allocation as well as policies to reward those involved in law-building and enforcement, linked to functions, duties, activities and job positions.

The aim of this resolution is to complete the institutional framework, eliminate barriers to promote investment, production, business activities and economic growth, with people and businesses at the centre of development.

As the saying goes, 'Without the right ingredients, you can’t make the dish'. The issue is that we need financial resources to realise the goal of high growth, isn’t it?

At this session, the NA will pass the Corporate Income Tax Law and the Special Consumption Tax Law.

After the Value-Added Tax Law was passed at the end of 2024, the Personal Income Tax Law will be passed next year.

Except for the special consumption tax, which aims to limit consumption of goods and services that are not encouraged due to their negative impact on the environment and public health, the other tax laws focus on reducing the financial burden on citizens and businesses.

The Personal Income Tax Law being developed by the Ministry of Finance also aims to reduce the financial contribution of citizens by increasing family deductions, adjusting tax brackets and creating conditions for citizens to increase spending and boost the domestic market.

Since 2020, the NA and the Government have implemented tax exemptions, reductions and extensions for most taxes, fees and charges, particularly value-added tax.

Despite these tax cuts, State revenue has still increased. Thanks to the tax reductions, people have increased spending, leading to a recovery and growth of the domestic market post-COVID-19. This is the 'ingredient' needed to 'make the dish'.

In the past, Việt Nam has never experienced double-digit economic growth. What is your opinion on the possibility of achieving this target?

The National Economics University recently conducted a study on the foundations and policy trends for high economic growth.

The research shows that from 1990 to 2024, Việt Nam’s average GDP growth rate was about 6.73 per cent per year.

However, this growth rate has been gradually decreasing over time: 7.41 per cent in the 1990-1999 period, 7.27 per cent between 2000 and 2009, and 6.3 per cent from 2010 to 2019.

Since 2020, the average growth rate has only reached 5.14 per cent, as the growth model relying on capital is approaching its limit.

The only way to become a high-income country by 2045 is to achieve high growth for a long period. There is no other way. This is a lesson learned from successful economies like Japan, South Korea, Singapore, Malaysia and China.

Over the past three decades, Việt Nam has followed a growth model based on investment and exports, similar to the countries mentioned, and has reaped many rewards.

However, the current context is different from 40-50 years ago, so Việt Nam needs to adopt multiple approaches.

While continuing to rely on investment and exports, it is crucial to develop the domestic market, the digital transformation, innovation, science and technology and make private enterprises the foundation of growth.

The 'four strategic pillars' have laid out these fundamental issues to realise the aspiration for high and sustainable growth. VNS