Development for stability – the groundbreaking thinking of the 14th Party Congress.

This approach reflects a profound shift in the understanding of the relationship between growth and stability – two pillars that have shaped Vietnam's development model for nearly forty years.

While stability was previously seen as a prerequisite for development, development is now considered a means of ensuring long-term stability. A nation cannot achieve stability without creating wealth and opportunities.

This reversal demonstrates a "powerful shift in thinking"—development is not just about the outcome, but about maintaining the nation's foundations in a period of significant change.

The aspiration for double-digit growth.

The draft Political Report sets unprecedented economic goals: average GDP growth of 10% or more per year during the 2026–2030 period, GDP per capita of US$8,500, the manufacturing sector accounting for 28% of GDP, and the digital economy reaching 30% of GDP.

Behind these figures lies a shift in growth thinking: not expanding through capital and labor, but improving quality through productivity and innovation. A TFP share of over 55% and an 8.5% annual increase in labor productivity are commitments to a knowledge-based growth model.

In the context of the clearly identified risks of falling behind and the middle-income trap, the requirement for rapid development coupled with high quality is not only an economic goal, but a vital necessity for national competitiveness.

Development institutions – the foundation of all breakthroughs.

Once again, the 14th National Congress placed institutions at the center of the development strategy. The report clearly stated: political institutions are key, economic institutions are central, and a strong renewal of thinking is required to promote strategic breakthroughs and create a new development ecosystem.

The focus of this reform is to perfect the modern socialist-oriented market economy institutions, properly handle the relationship between the State, the market, and society, and especially to affirm the decisive role of the market in mobilizing and allocating resources for development.

The state bears the responsibility of creating and ensuring fair order. The market is the mechanism for selecting resources. When institutions are fully developed, the market will play its role in efficient allocation.

Along with that comes the task of improving the investment and business environment – ​​ensuring transparency, stability, and predictability – to unleash productive forces and create new impetus for growth. Institutions, in this spirit, are not just a framework, but the engine of development.

The new growth model is based on science and technology.

The draft Political Report establishes a clear direction: science, technology, innovation, and digital transformation will be the main drivers of growth. The goal is to increase the productivity, quality, and added value of the economy, with the data economy and digital economy as the pillars of the new development model.

The concept of "modernization" is being reinterpreted: it's no longer about expanding factories, but about renewing old driving forces with new technologies. This transformation will occur simultaneously on multiple fronts – digital transformation, green transformation, energy transformation, and workforce transformation.

The priority areas are specifically identified: semiconductors, robotics, new materials, biotechnology, renewable energy, space industry, and quantum computing. This new generation of industrialization thinking aims for technological mastery, rather than mere outsourcing.

To achieve double-digit growth, the economy must rely on knowledge, not continue exploiting natural resources. This is the clearest manifestation of a radical shift in development thinking.

Restructuring the economy and ensuring major balances.

Innovation in thinking must go hand in hand with innovation in resource allocation. The draft clearly states: it is necessary to restructure the economy and promote growth while ensuring macroeconomic stability and major balances.

The state-owned economy must be reorganized according to international standards, focusing on key sectors. Budget spending must shift strongly towards development investment, with sufficiently flexible public investment mechanisms and policies to unlock social capital. The banking system needs to be modernized, weak institutions thoroughly addressed, cross-ownership controlled, and system safety maintained.

These guidelines reflect a consistent mindset: stability for development, and development to consolidate stability. Only with effective public investment, transparent credit, and disciplined budgets can fiscal and monetary policies truly support long-term growth.

Two engines of development run parallel: the state and the private sector.

The draft Political Report clearly affirms: "The private economy is the most important driving force of the economy," reflecting a major shift in perception that was agreed upon in Resolution 68 on the private economy.

The state-owned economy still plays a leading role in ensuring major balances, strategic direction, and system leadership, but the main driver of growth must come from the private sector – the most innovative, flexible, and dynamic.

The state needs to create an equal and safe environment for private enterprises to access land, capital, and technology; support the formation of Vietnamese private corporations with regional scale and competitiveness, while helping small businesses and cooperative economies to thrive.

When these two sectors operate simultaneously, the economy will have two wings to fly – one maintaining stability, the other fostering growth.

Three levels of breakthrough – from mindset to institutions and models

Overall, the draft clearly outlines three levels of breakthroughs:

A strong shift in development thinking is needed – development is the foundation of stability.

Institutional breakthrough – affirming the decisive role of the market, the State shifts to creating and regulating.

Breakthrough in the growth model – using science, technology, innovation, and digital transformation as the main driving forces.

These three breakthroughs form the developmental structure of the new phase: thinking is the prerequisite, institutions are the tools, technology is the means, and people are the subjects.

Modern thinking

The draft Political Report of the 14th National Congress reflects a clear vision: Vietnam must develop in order to maintain stability, and maintain stability through its own development capacity.

Growth is no longer just about adding capital, labor, or resources, but a test of institutions, technology, and human resources.

The core message of the 14th National Congress is to vigorously innovate development thinking – from management to creation, from administration to leadership, from passive stability to proactive development.

The draft states: "Our country has truly entered a new era – an era of national resurgence, for a peaceful, independent, democratic, prosperous, civilized, happy Vietnam, steadily advancing towards socialism."