Hanoi, July 28 -- The third plenum of the Party Central Committee has adopted a resolution to retool Vietnam's development model around science - technology and innovation, which are expected to jolt the economy into a higher gear.

Growth model driven by science - technology

Dr. Le Xuan Sang, Deputy Director of the Institute of Vietnam and World Economy under the Vietnam Academy of Social Sciences, said the Vietnamese economy has long thrived on comparative cost advantages such as cheap labour and natural resources. Yet, these edges are gradually eroding as around-the-clock automation and robotics deliver superior productivity.

Raising the level of scientific and technological development is the only way to break out of the middle-inco...