Multi-Dimensional Review of Vietnam launched

Minister Nguyen Chi Dung speaking at the review launching ceremony

The launching ceremony of the Multi-Dimensional Review (MDR) of Vietnam yesterday (December 8) held by the Ministry of Planning and Investment (MPI), in collaboration with the Ministry of Foreign Affairs (MoFA), and the Organisation for Economic Cooperation and Development (OECD) was attended by MoFA Deputy Minister Bui Thanh Son, deputy secretary-general of the OECD Jeffrey Schlagenhauf, and representatives of some European countries' embassies to Vietnam.

The MDR of Vietnam is an initiative of the OECD to define Vietnam's the shortcomings for development and identify some priority sectors to link economic competitiveness and social welfare goals, as well as share the OECD's knowledge with Vietnam. The MDR also combines analysis and strategic visions to suggest appropriate policies and prospects for the future.

At the ceremony, Minister Nguyen Chi Dung highlighted: "Particularly, based on the multi-dimensional assessment covering all sectors, MDR of Vietnam is a useful research for the building of the 10-year socioeconomic development strategy (2021-2030), and 5-year socioeconomic development plan (2021-2025) of Vietnam, which are currently open for public feedback and comments before being submitted to the 13th National Congress of the Communist Party of Vietnam."

MDR launching ceremony

Throughout 34 years of doi moi, Vietnam has achieved tremendous development and expects to successfully implement the United Nations Sustainable Development Goals by 2030, and is setting sights on the status of a high-income country by 2045, on the centennial anniversary of the country.

However, at present, there are a lot of challenges to inclusive and sustainable development in Vietnam. Productivity, quality, and competitiveness of the economy are not very high. The outcomes of strategic breakthrough plans and reforms are not as good as expected. Environmental pollution has yet to be reined in. Additionally, in the context of international integration, domestic and overseas uncertainties will have a growing impact on Vietnam in the future.

The MPI minister shared that the MDR will be able to point out bottlenecks to be overcome, opportunities to be grasped quickly and effectively, drastic reforms to be deployed in numerous areas to create an integrated, transparent, and sustainable economy for Vietnam.

The MDR also suggests some experiences of OECD member countries like the United Kingdom, the Netherlands, Finland, Norway, Mexico, and Peru.

"With 27 high-level recommendations, 70 actions, including 16 priority actions, the MDR is quite a useful reference for building socioeconomic plan and strategy, and drawing up a development direction for the next 10 years," Minister Dung added.