To achieve double-digit economic growth, Vietnam cannot rely on existing space but must proactively create new sources of resources and momentum. In an interview with the Newspaper of Industry and Trade, economist Le Dang Doanh emphasized the pivotal role of digital transformation, institutional reform, and stronger development of the enterprise sector in the coming period.

Double-digit growth: A major challenge but not impossible

- The Government has repeatedly emphasized the target of double-digit growth. How do you assess the feasibility of this goal in 2026 and the 2026 - 2030 period?

Le Dang Doanh: Double-digit economic growth is a very ambitious target and a major challenge, especially in the context of a global economy that remains highly volatile and unpredictable, affecting production, business operations, and exports.

Data from the National Statistics Office (Ministry of Finance) shows that in Q1/2026, the business sector showed signs of recovery but also faced significant difficulties. The number of enterprises entering and re-entering the market increased, while the number exiting also remained high. This reflects that the business environment still contains many barriers, and enterprise resilience is not yet strong.

Therefore, Vietnam must restructure its economy toward improving quality and value added. Growth cannot rely solely on scale or output expansion, but must focus on domestic value creation, particularly through science, technology, and digital transformation.

To achieve high growth, Vietnam needs to restructure its economy toward improving quality and value added.

- Given these challenges, do you think the double-digit growth target is feasible?

Le Dang Doanh: I believe the target is still achievable, but only if a synchronized set of solutions is implemented.

First, Vietnam must strongly promote the transition to a digital economy. This is not merely a trend but a requirement to improve productivity and competitiveness.

Second, the private sector must become a key growth driver. If Vietnam can develop around 2 million effective enterprises, this would form a strong base for sustainable growth.

However, institutional reform remains the key factor. It is necessary to streamline the administrative apparatus, cut unnecessary procedures, promote e-government, and build a more transparent and business-friendly environment.

“Creating room for growth” from enterprises and digital transformation

- Another major target is raising the digital economy’s share to around 30% of GDP. How do you view this figure?

Le Dang Doanh: This is an ambitious target and not easy to achieve, but it is possible with the right approach.

First, local authorities must play a more proactive role in supporting enterprises, especially in promoting digital transformation and improving the business environment.

Second, entrepreneurship must be strengthened and the number of enterprises increased. With around 1 million enterprises for a population of over 100 million, Vietnam’s enterprise density remains relatively low.

A key solution is converting household businesses into formal enterprises, a large but underutilized resource. Once formalized, these businesses can better access capital, technology, and markets.

In addition, Vietnam must fully leverage free trade agreements to expand export markets and enhance enterprise competitiveness.

- You have repeatedly emphasized “creating room for growth.” So where does this room come from?

Le Dang Doanh: Growth space is not something available to wait for; it must be created through reform and innovation.

First, increasing both the number and quality of enterprises will expand the economy’s resource base.

Second, digital transformation is essential. When processes are digitized, both time and costs are reduced, improving efficiency and enabling expansion.

Third, administrative reform is crucial. Reducing unnecessary barriers will give enterprises more room to develop.

In other words, growth space comes from reform itself, not from pre-existing resources.

- From the perspective of the industry and trade sector, what recommendations do you have?

Le Dang Doanh: The Ministry of Industry and Trade plays a vital role in production, trade, and exports. It should lead in applying science, technology, and digital transformation toward building a modern, efficient “digital Ministry of Industry and Trade.”

It is also necessary to promote digital enterprises and support SMEs in transformation, while encouraging the conversion of household businesses into formal enterprises.

If Vietnam can build around 2 million effectively operating enterprises alongside strong digital transformation, this will provide a solid foundation for high growth in the coming years.

Thank you very much.

The target of 2 million enterprises is seen as an important growth engine to expand scale and enhance the competitiveness of the economy.