By Mr . Phùng Xuân Minh,[ Chairman of the Board, Saigon Ratings]
A Historic Opportunity Is Converging
In the development history of every nation, there are always “crossroads of an era” — moments when domestic and international factors converge to create extraordinary opportunities for breakthrough growth. Vietnam is now standing at such a moment.
This is not merely an ordinary development opportunity, but a historic one, as major global transformations are driving profound shifts in supply chains, investment flows, technology, and the structure of global economic power.
These movements are opening unprecedented opportunities for developing nations to shorten their development gap. For Vietnam, this is an especially critical opportunity to accelerate.
Internal Strength Built Over Nearly 40 Years of Renovation
After nearly 40 years of the (Renovation) process, Vietnam has established a substantial internal foundation.
This includes:
- an increasingly larger economic scale;
- a rapidly growing business sector;
- an expanded production base;
- enhanced international standing;
- a stable political environment;
- and a golden population structure with significant remaining potential.
Most importantly, Vietnam is entering a phase where accumulated internal strengths can be transformed into new development momentum—if properly unlocked.
Today, resources are no longer a matter of absolute shortage, but rather a matter of effective mobilization and allocation. If the compressed resources within the economy are effectively released, Vietnam can generate a new cycle of growth at a higher speed.
A New Era Requires a New Development Mindset
The world is changing at an extraordinary pace. Traditional growth drivers are gradually being replaced by:
- Artificial Intelligence (AI);
- Big Data;
- Semiconductor technology;
- Green energy;
- Digital economy;
- Circular economy.
This means that the old growth model will no longer be sufficient to create transformational leaps. If Vietnam wants to break through, it needs a new development mindset.
That means shifting from quantity-based growth to quality-based growth; from outsourcing to innovation; from low-cost advantages to technological and productivity advantages.
This is a strategic transformation.
Strategic Actions: Turning Opportunity into Development Power
Recognizing opportunity is a necessary condition, but transforming it into tangible results is the sufficient condition.
To achieve this, Vietnam needs a clear, decisive, and synchronized action strategy.
First: Strong Institutional Reform
Institutions are the foundation of development.
To achieve rapid growth, Vietnam must remove bottlenecks in administrative procedures, improve the investment environment, optimize market mechanisms, and enhance resource allocation efficiency.
Institutional reform must become the top priority.
Second: Developing High-Quality Human Resources
The new era is fundamentally a competition of human quality.
Human resources must be upgraded to meet the demands of the digital economy, high technology, and innovation.
Investing in people is investing in the future.
Third: Building a Strong National Entrepreneurial Force
In the development history of successful nations, the business community has always been the pioneering force.
Vietnam needs to cultivate a new generation of entrepreneurs with international competitiveness, global vision, national spirit, and great ambition.
Entrepreneurs must become a strategic force in national development.
Fourth: Advancing Science, Technology, and Innovation
Science and technology must become the core engine of growth.
For rapid and sustainable growth, Vietnam must invest heavily in research, innovation, and technology application.
This is the shortest path to improving productivity.
Fifth: Maximizing International Integration
International integration must evolve from simply “opening markets” to “expanding development resources.”
Vietnam must maximize the advantages of FTAs, economic diplomacy, and high-quality capital flows to serve its growth strategy.
The Decisive Role of National Governance
At every stage of development, the national governance system plays a decisive role.
To enter a new era of development, Vietnam needs a stronger, more effective, more disciplined, and more enabling government apparatus.
It must be a system that:
- acts quickly;
- makes sound decisions;
- executes effectively;
- supports businesses;
- serves the people.
National governance capacity will be the decisive factor in turning great ambitions into reality.
This Historic Opportunity Must Not Be Missed
History does not offer opportunities many times.
If this opportunity is missed, the development gap between Vietnam and the world will continue to widen.
But if seized effectively, Vietnam can absolutely create a new development turning point within the next 10–20 years.
This is the nation’s “golden moment” — a moment when national destiny, future prospects, and development aspirations converge.
What matters most now is action.
Faster action.
More decisive action.
More effective action.
The Era of National Rise Has Begun
Vietnam is entering a new era of development — an era where national aspiration, internal strength, and historic opportunity meet.
The road ahead will certainly remain challenging.
But history has proven that whenever the Vietnamese people unite with sufficient willpower, wisdom, and action, extraordinary achievements can be created.
The era of national rise is no longer a distant aspiration.
It is becoming a reality.
The remaining question is:
Do we have enough determination, enough courage, and enough action to transform this historic opportunity into the nation’s future development?
End of Special Feature:
National Destiny and Future Prospects in the Era of Vietnam’s Rise
Saigon Ratings [04-May-2026]
