[Research Contribution] Vietnam: From the Aspiration for Independence to the Aspiration for Prosperity
4 September, 2026
Keywords: Prosperous Vietnam; Aspiration for independence; Institutional reform; Development model innovation; New growth drivers; Science and technology; Innovation; Digital transformation; Vietnam Vision 2045
In August 1945, the Vietnamese nation rose up to claim self-determination through two sacred values: Independence and Freedom. Eighty-one years later, with forty years of Doi Moi (Renovation), our nation has traveled a long journey – from a centrally planned, subsidy-based economy to the aspiration of building a prosperous and powerful Vietnam.
The aspiration for a prosperous Vietnam now stands at a new developmental threshold: when growth drivers heavily reliant on capital, cheap labor, and input expansion are gradually reaching their limits; when total factor productivity growth shows signs of deceleration; and when intensifying technological competition, economic uncertainty, and global geopolitical tensions make the renewal of the development model an urgent imperative.
An institutional foundation for a new era
Against this backdrop, a series of breakthrough institutional resolutions issued systematically and continuously by the Politburo from late 2024 onward have unleashed a new reform momentum: removing development bottlenecks, liberating productive forces, unblocking resources, and laying the groundwork for a new growth model, enabling Vietnam to confidently step into a new era of national development.
If the journey toward independence in the autumn of 1945 resolved the question of national self-determination, Vietnam’s development journey today confronts a different challenge: how can a mid-sized, lower-middle-income economy break through and avoid the “middle-income trap” – a hurdle that few developing countries have managed to overcome. After decades of growth driven by capital accumulation, low-cost labor expansion, and resource-intensive exports, these traditional drivers are revealing their limitations in the face of new development requirements. This is consistent with predictions derived from neoclassical growth theory.
The Solow model explains economic growth based on capital accumulation, labor expansion, and technological progress, but treats the rate of technological change as an exogenous factor. More advanced endogenous growth theories later affirmed that technology, innovation, and human capital are the decisive drivers of long-term growth.
In response to these demands, the 14th National Party Congress has ushered in the 2026–2031 term with a call for systemic reform rather than piecemeal policy adjustments, directly targeting the specific bottlenecks of the old growth model. This can be viewed as a comprehensive “institutional architecture” approach – a scientifically grounded design aimed at responding promptly to the objective demands of development reality, rather than merely reflecting subjective will.
From late 2024 to the present, a series of landmark resolutions has been issued by the Politburo, translating the aspiration for prosperity into action and steering the country toward becoming a developed, high-income nation by 2045. These include Resolution No. 57-NQ/TW on breakthroughs in science, technology, innovation, and national digital transformation; Resolution No. 59-NQ/TW on international integration in the new context; and Resolution No. 66-NQ/TW on reforming law-making and enforcement to meet the country’s development requirements.
In addition, two strategic pillars driving growth and national prosperity within Vietnam’s socialist-oriented market economy have been clearly defined: the state-owned economy (Resolution No. 79-NQ/TW on state economic development) and the private economy (Resolution No. 68-NQ/TW on private economic development). Resolution No. 68 identifies the private economy as the single most important driver of growth, while Resolution No. 79 affirms the state-owned economy’s leading role in steering and regulating the economy.
These resolutions are organically interconnected as a unified whole: the institutional framework under Resolution No. 66 paves the way for the development of the state-owned economy (Resolution No. 79) and the private economy (Resolution No. 68); the private sector becomes the primary engine for applying science, technology, and innovation (Resolution No. 57), thereby enhancing competitiveness in the context of international integration (Resolution No. 59). This approach is consistent with numerous international research findings on economic growth and development: rule of law, investment, and trade openness are powerful drivers of growth. Moreover, the quality of institutions fundamentally shapes most other endogenous growth factors.
A strategic shift with a century-long vision
On July 28, 2026, Resolution No. 19-NQ/TW of the third plenum of the 14th Party Central Committee on renewing Vietnam’s development model was issued, articulating five guiding principles that reflect three major shifts in development thinking.
The first is a shift in growth drivers – from heavy reliance on capital, labor, and input expansion toward increasing dependence on science and technology, innovation, digital transformation, artificial intelligence, and high-quality human resources.
The second is a shift in governance approach – from a mindset “management and control” toward “shaping and leading development,” while harmoniously balancing the relationship among the State, the market, and society.
The third is a shift in resource mobilization – combining internal and external strengths, with internal capabilities playing the decisive role and external resources creating additional breakthroughs for development.
These shifts are oriented toward a long-term roadmap. By 2030, Vietnam aims to complete the foundational elements of the new development model, achieving breakthroughs in institutions, national governance, science and technology, strategic infrastructure, and high-quality human resources. By 2045, the goal is to become a developed, high-income country with a self-reliant, innovative, humane, sustainable, and deeply integrated development model. Looking further ahead, the resolution envisions laying the foundation for the next 100 years of national development, from 2030 to 2130.
The core challenge is not merely mobilizing additional resources, but enhancing the efficiency of their use and allocation. The focus, therefore, is on reforming the financial system, upgrading the stock market and national credit rating, and restructuring the allocation of public resources. This process is reinforced by major policy decisions on land institutions (Resolution No. 21-NQ/TW on orientations for amending the Land Law and related laws) and maritime economic space (Resolution No. 20-NQ/TW on building and developing Vietnam into a strong maritime nation). This aligns with what many economists emphasize: public investment, if concentrated on key projects with significant spillover effects rather than spread thinly, can serve as a powerful lever for growth.
Looking at the bigger picture, an increasingly coherent policy framework emerges: the “four pillars” laying the institutional groundwork, with Resolution No. 19-NQ/TW further shaping the national development model with a vision to 2045 and beyond. Yet the aspiration for prosperity can only become reality when these policy decisions are translated into higher productivity, stronger enterprises, more efficient resource allocation, and improved quality of life for the people.
Eighty-one years ago, the greatest aspiration of the Vietnamese nation was to achieve independence, freedom, and the right to determine its own future. That aspiration continues today, through a coherent and consistent chain of institutional reforms aimed at becoming a developed, high-income nation by 2045.
The thread running from the autumn of independence to the new era of development remains the will to master the nation’s own destiny. What has changed is that this journey is now guided by an increasingly rigorous, scientific, and consistent reform mindset and vision. This is the basis for believing that Vietnam’s aspiration for prosperity is not merely a hope, but a trend that is becoming inevitable and is being progressively realized.
Author: Prof. Dr. Nguyen Khac Quoc Bao – University of Economics Ho Chi Minh City
This article was published in Nhan Dan Newspaper on the occasion of the 81st anniversary of the August Revolution and National Day, September 2.
News and photos: Author, Department of Communications and Partnerships
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