2021-2025 economic restructuring plan focuses on digital transformation

Illustrative image (Photo: VNA)

The economic restructuring plan for the 2021-2025 period, approved by the 15th National Assembly during its second session on November 12, will focus on stepping up digital transformation and innovations, Director of the Central Institute for Economic Management (CIEM) Tran Thi Hong Minh has said.

Big changes of the world and Vietnam after the COVID-19 pandemic are requiring the country to accelerate the process of economic restructuring, as if the economic restructuring is delayed or slowed down, it will be very difficult for Vietnam to narrow the development gap with the world, overcome the middle-income trap, effectively respond to climate change, and take advantage of new opportunities of the fourth Industrial Revolution and the benefits of international integration, she noted.

The plan sets out a general goal of forming a suitable and effective structure in each industry and field, and between industries, fields and the whole economy. It also looks to develop national products based on new or high technologies, create a breakthrough in competitiveness of key economic sectors, and significant and substantive changes in the growth model and productivity, and increase the autonomy, adaptability and resilience of the economy.

The digital economy and urban economy are the new feature of the 2021-2025 economic restructuring plan, Minh stated, adding that attention will be paid to implementing solutions to perfect institutions and expand scientific and technological applications in all fields, and develop the business force, including connecting small- and medium-sized enterprises with big and FDI ones.

The plan also stressed the need for leaders of industries and sectors to change their ways of doing to increase the efficiency of economic restructuring./.