Updates to the Government’s Action Program Implementing the Five-Year Socio-Economic Development Plan, National Finances, and the Medium-Term Public Investment Plan 2026-2030

Updates to the Government’s Action Program implementing the five-year socio-economic development plan, national finances, and the medium-term public investment program for 2026-2030. The Government issued Resolution No. 109/NQ-CP to update and supplement the Government’s Action Program implementing the resolution of the 14th National Congress of the Communist Party of Vietnam and the Central’s Conclusion No. 18-KL/TW on the plan for socio-economic development, national finances, debt management, and medium-term public investment for 2026-2030, aligned with the objective of achieving a two-digit growth rate. The document outlines establishing a new growth model, restructuring the economy, accelerating industrialization and modernization, and using science, technology, innovation, and digital transformation as primary drivers. It emphasizes reforming governance to realize the two-digit growth goal, ensuring macro stability, improving living standards, and implementing annual programs with concrete tasks, results, and deliverables across sectors and localities. The program also calls for comprehensive institutional reform to unleash productive forces, build and refine regulations and standards, and advance digital governance, while simplifying administrative procedures and improving the investment climate to boost national competitiveness. The goal includes placing Vietnam among the top three ASEAN investment environments by 2028 and among the world’s top 30 economies in terms of investment attractiveness. It also highlights continued decentralization and better coordination across financial, investment, construction, and land-use policy areas, as well as advancing energy, digital economy, data-driven economy, and fintech ecosystems. The plan stresses attracting selective foreign investment, integrating with regional and global value chains, and developing a robust domestic private sector as a primary growth engine. Additional emphasis is placed on upgrading the financial system, ensuring safe banking practices, expanding long-term capital markets (including green and climate-related instruments), and advancing public investment efficiency and transparency. The document also addresses education and human resource development, science and technology, and national innovation systems to support high-quality growth, with a focus on sustainable agriculture, energy transition, and the digital economy. Overall, the update aims to align macro and fiscal policies with the two-digit growth target while enhancing international financial standing and investment competitiveness.