PROMOTING VIETNAM'S ECONOMIC DEVELOPMENT THROUGH A SUSTAINABLE GROWTH MODEL IN THE NEW DEVELOPMENT PHASE

Amid profound transformations in the global economy driven by digital transformation, green transition, innovation and the restructuring of global supply chains, renewing the economic growth model has become an urgent priority for Vietnam to ensure rapid and sustainable development while enhancing national competitiveness. This paper examines the key drivers of Vietnam's economic growth in the new development phase, focusing on macroeconomic stability, international trade, foreign direct investment (FDI), digital transformation and economic restructuring. The study also identifies several challenges to sustainable development, including the relatively low quality of economic growth, limited labor productivity, dependence on the FDI sector, pressures associated with the green transition and the increasing impacts of climate change. Based on these findings, the paper proposes strategic directions for improving the quality of economic growth through institutional reforms, the promotion of innovation, the development of the digital economy, green economy and circular economy, the enhancement of human resource quality and the strengthening of enterprises' endogenous capabilities. These measures provide a solid foundation for Vietnam's transition toward a productivity-, science-, technology- and innovation-driven growth model, thereby supporting the country's sustainable development objectives and its aspiration to become a high-income economy by 2045.

sustainable growth, growth model, digital transformation, green transition, innovation, economic development, Vietnam