Prime Minister's Directive on developing the 5-year Socio-Economic Development Plan 2021 - 2025

In the coming period, the world economic situation will continue to develop in a complex and unpredictable manner, while the domestic economy will still face many difficulties and potential risks, posing many challenges to the sustainable development process, including the complicated developments of the COVID-19 pandemic. Therefore, the tasks set for the 2021-2025 period are very heavy.

To continue promoting the achieved results, overcome difficulties and challenges, implement the 10-year Socio-Economic Development Strategy 2021-2030, and create a premise for socio-economic development in the next period, the Prime Minister requested ministries, ministerial-level agencies, government agencies, economic groups, state-owned corporations, provinces and centrally run cities (ministries, central agencies and localities) to develop the 5-year Socio-Economic Development Plan 2021-2025 and at the same time develop an Action Program to implement the 5-year Socio-Economic Development Plan 2021-2025 for approval and implementation as soon as the 5-year plan is approved by competent authorities.

The 5-year socio-economic development plan for 2021-2025 must be developed on the basis of a full and accurate assessment of the situation and results of the implementation of the 5-year socio-economic development plan for 2016-2020, resolutions of the Party, the National Assembly, the Government and forecasts of the domestic, world and regional situations in the coming period that will impact and influence the country's socio-economic development; thereby determining the development goals of the 5-year plan for 2021-2025 in accordance with the goals of the 10-year socio-economic development strategy for 2021-2030.

The main contents of the 5-year Socio-Economic Development Plan 2021-2025 report include: Assessment of the implementation of the 5-year Socio-Economic Development Plan 2016-2020; 5-year Socio-Economic Development Plan 2021-2025.

In particular, the 5-year Socio-Economic Development Plan 2021-2025 is built in the context of the world situation continuing to develop in a complicated and unpredictable manner, such as strategic competition, trade wars, and increasingly fierce competition for resources, markets, technology, and high-quality human resources among countries; world economic growth is likely to be slower than the previous period; the 4th Industrial Revolution will continue to have a strong and widespread impact on all aspects of life; non-traditional security challenges, especially climate change, are increasing in both impact and intensity; and complicated developments of epidemics, especially the COVID-19 pandemic.

Nghe An's transport infrastructure is increasingly improved, effectively serving socio-economic development. Photo: Archive

The country's position and strength after more than 30 years of renovation have grown much stronger in both scale and competitiveness; the political, social and macroeconomic situation is stable; the confidence of the business community and people is increasing,...

However, in the period of 2021-2025, the economy will face many difficulties and challenges from the inherent weaknesses of the economy that have not been and are slow to be overcome, as well as social and environmental issues that put great pressure on socio-economic development such as population aging, the gap between rich and poor, natural disasters, epidemics, climate change, rising sea levels, saltwater intrusion, etc.

In that context, the Prime Minister requested ministries, central and local agencies to study and identify the basic issues of the 5-year Socio-Economic Development Plan 2021-2025, focusing on the following main contents:

1- The context for developing the 5-year socio-economic development plan 2021-2025, including assessment and analysis of opportunities, advantages, challenges, and risks of the domestic, regional, and international contexts affecting the development and implementation of socio-economic development goals.

2- General objectives of the 5-year Socio-Economic Development Plan 2021-2025; objectives towards 2025 of ministries, central and local agencies.

3- Main targets and some major balances, including: striving for the average economic growth rate (GDP) of the whole country in the 5 years of 2021-2025 to increase by about 7% for ministries, central agencies and localities, based on the actual situation to build the growth rate of the industry, sector and locality to build a reasonable and appropriate growth plan; some basic indicators and propose some basic indicators of ministries, sectors and localities for the period of 2021-2025.

4- Main directions and tasks:

- Continue to perfect the socialist-oriented market economic institution, promote rapid and sustainable growth on the basis of maintaining macroeconomic stability and controlling inflation.

- Promote economic restructuring associated with growth model innovation, improve productivity, quality, efficiency and competitiveness, strengthen economic resilience; promote comprehensive digital transformation, develop the digital economy, form Vietnamese digital technology enterprises with global competitiveness; improve the business environment, promote start-ups, innovation, effectively participate in industry clusters, regional and global value chains; overcome damage, restore production and business and economic growth after natural disasters and epidemics; expand import and export markets, diversify partners and sources of goods.

- Promote the development of regions and economic zones according to approved planning; study and promulgate regulations on coordination of regional management and regional linkages; develop specific mechanisms and policies to promote regional development and regional linkages; develop green economic models for regions and economic zones; develop domestic raw material areas to be more proactive in input factors serving production and business; develop marine economy.

- Promote the construction of synchronous infrastructure such as transportation, seaports, energy, information technology and communications, urban areas, agriculture, etc.; develop urban areas in line with the trend of smart, green, environmentally friendly urban areas, adapting to climate change, focusing on improving urban quality. Continue to develop and implement the National Housing Development Strategy; National Target Program for New Rural Areas.

- Strengthen the mobilization and effective use of investment resources of the economy; develop the collective economy, the private economy and perfect institutions to develop new economic models with digital technology applications. Improve the efficiency of public debt management and the use of public investment capital, speed up the implementation of investment projects, especially important national projects and key projects.

- Improve the quality and effectively use human resources associated with promoting innovation, application and strong development of science and technology; focus on training human resources with high skills and technical expertise to meet the requirements of the 4th Industrial Revolution; enhance the role and responsibility of enterprises in training. Continue to fundamentally and comprehensively innovate education and training to meet the requirements of industrialization and modernization in the conditions of a socialist-oriented market economy and international integration. Strongly develop science, technology and innovation to make a breakthrough in improving productivity, quality, efficiency and competitiveness of the economy.

- Continue to build and promote the cultural values, Vietnamese people and the strength of the entire nation, make progress, social justice, create jobs, improve people's lives; protect, care for and improve people's health, population quality; prevent and fight epidemics; implement ethnic and religious policies. Promote hunger eradication, poverty reduction, promote economic development in remote, isolated, border, island and ethnic minority areas;...

Based on the above-mentioned goals, orientations and main tasks, ministries, central and local agencies specify mechanisms, solutions and policies to successfully implement the 5-year socio-economic development plan for 2021-2025. Mechanisms, solutions and policies must ensure consistency in common principles and goals, and must be consistent with the practical conditions and development level of each sector and locality.