Completing industrial development strategy to target double-digit growth

The meeting was attended by Deputy Minister Truong Thanh Hoai, Director of Vietnam Industry Agency Tran Viet Hoa, and representatives of units under the MoIT.

Reporting on strategic solutions to achieve double-digit growth in industry, Director Tran Viet Hoa said that in 2025 the processing and manufacturing sector is expected to account for about 24.5% of Vietnam’s GDP. Therefore, reaching the target of raising the share of processing and manufacturing to around 28% of GDP by 2030 will pose a major challenge. Vietnam’s processing and manufacturing industries still face many bottlenecks, including heavy dependence on external factors, while the autonomy and resilience of domestic production remain limited.

The Resolution of the 14th National Party Congress clearly states that industry will not only continue to serve as an important driver of growth but will also be elevated to become the central pillar of the new growth model, playing a decisive role in realizing the country’s GDP growth targets.

At the meeting, participants discussed orientations and solutions to promote industrial development in the coming period, aiming at double-digit growth. Opinions generally agreed with the growth analyses, scenarios and key tasks proposed by the Vietnam Industry Agency, while emphasizing the need to further improve mechanisms and policies and to strongly develop processing and manufacturing industries in order to enhance the role of the industrial sector in the national economic structure, thereby contributing to the realization of the set growth targets.

Acknowledging the comments and proposals from representatives of MoIT units, Acting Minister Le Manh Hung requested the Vietnam Industry Agency to coordinate with relevant units to conduct a comprehensive assessment of the current state of Vietnam’s industrial sector. This assessment should help identify limitations and serve as a basis for building plans and solutions to achieve industrial growth targets and increase the sector’s share in GDP in line with the country’s development goals.

Emphasizing the importance of accurately assessing the current situation, the Acting Minister said a comprehensive review and analysis of Vietnam’s industrial landscape should be conducted, not only within the areas under the state management of the MoIT but across the entire industrial sector.

Acting Minister Le Manh Hung also stressed the need to develop specific scenarios and calculation models based on the assessment of the sector’s current status. According to him, it is necessary to clearly define parameters and development models while accurately evaluating the capacity of each industry to provide a basis for appropriately allocating growth targets. As an immediate step, priority should be given to a group of solutions aimed at addressing the sector’s existing shortcomings, which will serve as a foundation for gradually achieving industrial growth targets.

In addition to short-term measures, the Acting Minister outlined a set of long-term, foundational solutions for industrial development. Specifically, he directed efforts to accelerate the completion of strategic orientations and development models for the sector. Based on these strategic orientations, it is necessary to clarify the industrial structure and identify the key pillars and priority areas of Vietnam’s industry. At the same time, clear directions should be established for upgrading core technologies and shaping markets.

The Acting Minister also requested the development of a list of specific tasks and projects to be implemented in 2026 and in the 2026 - 2030 period. These tasks should focus on completing value chains and developing foundational industries, such as metallurgy, in a direction that enhances added value and strengthens linkages among stages of the production chain.

Regarding mechanisms and policies, the Acting Minister said the policy system must be synchronized on the basis of clearly identifying key indicators in GDP growth, which would serve as a foundation for allocating resources and effectively implementing industrial development solutions.

On that basis, relevant units should review and clearly identify the list of key industries and priority sectors to be linked with specific policy mechanisms and solution packages in the report.

Highlighting the role of science and technology, Acting Minister Le Manh Hung stressed that scientific and technological achievements must be directly translated into and applied in economic sectors to become a driving force for growth. If they are not closely linked with production and business activities, science and technology will find it difficult to demonstrate practical effectiveness.

Based on these general orientations, the Acting Minister asked for continued refinement of development planning for individual industrial sectors such as energy, chemicals, materials and other foundational and supporting industries. The formulation of these orientations should be conducted in parallel with the development of the strategy for the industry and trade sector, ensuring value chain connectivity among industries.

According to the Acting Minister, this planning process will gradually form a comprehensive policy system, a long-term vision, development strategies and an appropriate governance framework to effectively implement the development goals of Vietnam’s industrial sector in the coming period.