Economic Growth with Poverty Reduction in Vietnam (1986-2020): Current Situation and Solutions

Abstract

Economic growth is a necessary condition but not a sufficient condition to reduce poverty. In contrast, reducing poverty promotes economic growth, but it can also hinder economic growth. In recent years, Vietnam has achieved great achievements in implementing economic growth, which has contributed to reducing poverty and is highly appreciated by the international community. However, the implementation of economic growth with poverty reduction in Vietnam is still limited. The economic growth model is outdated compared to other countries in the region and the world, and poverty reduction. Therefore, the Government of Vietnam needs to take specific and appropriate measures to ensure both economic growth and poverty reduction for development purposes. The article analyzes the current situation (achievements and limitations) of economic growth in poverty reduction and the formula for economic growth in poverty reduction in Vietnam in 1986 - 2020. Thereby, the article presents some solutions to promote economic growth to reduce poverty in Vietnam in the coming time, contributing to the successful implementation of the sustainable development goal to 2030.

Keywords: economic growth, poverty reduction, sustainable development, Vietnam.