On 4th April, 2019, Fulbright School of Public Policy and Management organized a seminar on “Renovating Vietnam’s Economic Growth Model”. The presenter was Senior Economist Pham Chi Lan, Former President of Vietnam Chamber of Commerce and Industry (VCCI) and a member in Economic Advisory Group for Prime Minister Phan Van Khai.
As a Vietnam knowledgable economist over many periods, Ms. Chi Lan understood current growth model with its associated problems and defects. In her presentation, she pointed out needed change for Vietnam to get into middle-high income country groups. When there’s little space left in the old model, identifying and adapting a new model is an urgent priority.
Analyzing two reports from domestic economists and World Bank, the presenter concluded that primary economic drivers in the new model are investment and human capital accumulation, efficient allocation of resources, institution reforms, firm-based innovation and national innovation ecology.