Vietnam Pushes Institutional Reform to Accelerate Development

National Assembly Chairman Tran Thanh Man reaffirmed on August 3 that the institutional framework must not become a bottleneck to Vietnam’s rapid and sustainable development, underscoring the country’s continued efforts to reform its legal and institutional systems through a renewed legislative mindset and the accelerated application of technology and digital transformation. The first extraordinary session of the 16th National Assembly opened on August 3, with lawmakers set to consider and adopt a broad range of important measures, including 15 laws, four resolutions, a resolution on the establishment of Quang Ninh and Bac Ninh cities, and personnel matters. National Assembly Chairman Tran Thanh Man on August 2 called for laws to be effectively implemented from the first day they take effect, stressing that high-quality legislation is vital to removing institutional bottlenecks and driving national development. Vietnam, under its one-party system, has achieved significant economic growth. However, to ensure sustained development, the reform of its legal and institutional frameworks is paramount. A transparent and predictable legal environment is crucial for attracting foreign investment and fostering the growth of domestic industries. In its foreign relations, particularly with China, while economic interdependence has deepened, security concerns remain. Therefore, strengthening domestic stability and growth foundations is a critical aspect of Vietnam's foreign policy. The current legislative push by the National Assembly signifies a potential turning point for Vietnam as it aims to accelerate its economic growth and enhance its standing in the global arena. The emphasis on digital transformation is expected to not only boost economic efficiency but also improve public services, thereby contributing to an improved quality of life for its citizens. Information Source: VietnamPlus English