Vietnam is moving toward ambitious milestones: becoming an upper-middle-income country by 2030, a high-income country by 2045, and a strong, prosperous, and happy nation by 2050, as set out in the resolution passed by the National Assembly on December 10, 2025. Industrialization, in both breadth and depth, is regarded as a key policy instrument for turning these goals into reality. When discussing the industry, the focus is on the manufacturing sector. This is the most important and dynamic sector of almost every economy, serving as the main engine in the transition from low-income to high-income status. Rapid productivity growth in industry can be achieved by increasing capital per worker, fostering innovation, including technology import, and expanding production to take advantage of economies of scale. A crucial factor behind the success of East Asian economies has been their rapid structural shift from agriculture to industry. Especially during the demographic dividend period, industrialization must be vigorously promoted. Vietnam’s industrialization remains limited and low in added value In Vietnam’s case, the industrial sector has so far failed to play a sufficiently dynamic role. Two main issues stand out. First, the level of industrialization remains low. Following the Doi Moi reforms, industrialization made some […]
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