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Vietnam Unveils Major Economic and Policy Reforms

Vietnam Unveils Major Economic and Policy Reforms

Post by : Shakul

During the week of May 30 to June 5, 2026, the Vietnamese government has rolled out a set of pivotal policy initiatives and administrative reforms aimed at fostering economic growth, enhancing public services, driving digital transformation, and bolstering social welfare. These directives signify the government’s comprehensive strategy for sustainable development, targeting ambitious national objectives for the next decade.

A significant focus during this period was the enhancement of the domestic market, a cornerstone of economic growth. Deputy Prime Minister Pham Gia Tuc highlighted the necessity of boosting domestic consumption and business operations to realize Vietnam’s double-digit growth aspirations from 2026 to 2030. The Ministry of Industry and Trade has been entrusted with crafting a long-term domestic market development strategy that emphasizes innovation, competitiveness, and support for both businesses and consumers.

Additionally, the government greenlit a major initiative aimed at assisting Vietnamese digital technology firms to expand their reach abroad. Under this strategy, Vietnam aspires to establish at least 5,000 digital enterprises generating income from international markets by 2030. Authorities forecast that digital product and service exports will achieve an annual target of at least 55 billion US dollars, while promoting strategic partnerships, mergers, and acquisitions that will bolster Vietnam’s role in global technology value chains.

Administrative reforms were also a focal point. New regulations were enacted to clarify the functions, responsibilities, and organizational framework of the Government Office, along with updates to the State Bank of Vietnam's structural organization. Officials indicated these changes aim to enhance governance efficiency, optimize policy coordination, and bolster the government’s capacity to tackle emerging economic and social challenges.

Moreover, plans were announced to elevate four major higher education institutions to the status of leading universities across Asia. Concurrently, a new School Health Program for 2026–2035 received approval, aimed at improving health services in educational settings and ensuring the physical and mental well-being of students. Such measures are anticipated to fortify human resource development and support Vietnam’s competitiveness in the long run.

Healthcare personnel were also recognized through a new decree that introduces special allowances for medical staff, village health workers, and midwives. Additional measures were implemented to support those engaged in emergency scenarios, including hazard allowances for individuals involved in disaster response and epidemic management. These initiatives seek to acknowledge the dedication of frontline workers and enhance workforce resilience.

In terms of social welfare, nearly 476 billion Vietnamese dong has been approved for gifts and support directed towards war veterans, martyrs, and individuals who have served the nation. This initiative will provide benefits to over 1.56 million eligible citizens as Vietnam commemorates the 79th anniversary of War Invalids and Martyrs Day. Officials confirmed that this support highlights the nation’s ongoing commitment to honoring those who have contributed to Vietnam’s independence and development while ensuring stronger social protections for vulnerable populations.

June 6, 2026 12:25 p.m. 1052
Economy Policy Public Sectors Government

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