2021-2025: Vietnamese mettle and the foundation for an era of growth

(Chinhphu.vn) - Each development term of the country carries within it a historical mission. There are terms that lay the foundation for Innovation, terms that promote integration, and terms that mark strategic steps on the journey to build a modern nation. But there are few periods that converge with as many challenges and strong transformations as the 2021-2025 term - a pivotal term, at the heart of profound global changes.

This is a period in which Vietnam not only has to face the successive shocks of the times, but also has to prove its governance capacity and institutional resilience. And miraculously, it is in this adversity that Vietnam’s mettle and intelligence shine, opening a new period of development – ​​more stable, more confident, and more ambitious than ever.

Prime Minister Pham Minh Chinh presents a report at the opening session of the 10th session of the 15th National Assembly - Photo: VGP

As reported by the Government to the National Assembly at the 10th Session that just opened: The past term was a journey of strong will, steadfastness, and creative intelligence of our Party and people; a journey of faith, aspiration, and spirit of overcoming difficulties for the country and for the people. In the midst of countless difficulties and challenges, under the leadership of the Central Committee, directly and regularly led by the Politburo and the Secretariat, headed by the General Secretary, we have turned danger into opportunity; turned thinking into resources; turned challenges into motivation; valued time, mobilized strength from the people, achieved very valuable and proud achievements, leaving a deep mark in the process of national development and growth in all aspects.

A Pivotal Term in the Eye of a Global Storm

No other term in Vietnam’s modern history has begun amid such a storm as the 2021–2025 one. As the new government took office, the world was shaken by the devastation of the COVID-19 pandemic – the biggest health and economic crisis since World War II. Global supply chains were disrupted, millions of jobs were lost, and people’s lives were severely damaged. At the same time, geopolitical undercurrents were rising: the Russia-Ukraine war, Middle East conflict, strategic competition, energy crisis, climate change, and extreme natural disasters.

In such an uncertain context, many major economies have fallen into recession, and social trust has been eroded. But Vietnam has chosen a different path: fighting the pandemic while developing; protecting people's lives while maintaining the vitality of the economy. This is not just a policy decision, but a manifestation of leadership and governing wisdom - taking people as the center, taking solidarity as strength, and taking the aspiration for greatness as orientation.

From the days of "fighting the pandemic like fighting the enemy" to the period of spectacular economic recovery; from the fear of macroeconomic instability to the position of top 4 ASEAN in terms of GDP scale; from the crisis of confidence to the aspiration to rise up - the 2021-2025 term has affirmed the durability of the system, the strength of belief and the resilience of the nation.

It is a term of courage and aspiration – the courage to stand firm amid the storm, and the aspiration to rise after the storm.

UNPRECEDENTED CHALLENGE - TEST OF NATIONAL MEANING

Never before has Vietnam faced so many crises, with sudden and unexpected events, as in this term. The COVID-19 pandemic is a life-and-death shock to the entire society. Millions of workers lost their jobs, thousands of businesses had to close, and the healthcare system was under unprecedented pressure. However, the entire nation stood up together. Nearly 120 trillion VND was spent to support more than 68 million workers and 1.4 million businesses; 23 thousand tons of rice were provided as relief; millions of doctors, soldiers, and volunteers rushed to the epicenter. It was a mobilization of people on an unprecedented scale - where compassion and community will blended into Vietnam's "institutional vaccine".

As vaccines are rapidly deployed and the economy reopens, the world will have to look at Vietnam in a different light: a country that not only endures but also turns danger into opportunity. In such adversity, the organizational capacity, community spirit, and creativity of the people have proven the irreplaceable value of the "people-centered" development model.

On August 26, 2021, Prime Minister Pham Minh Chinh inspected the epidemic prevention work, visited and encouraged people in the quarantined area, in Thu Duc City, Ho Chi Minh City during the days of "fighting the epidemic like fighting the enemy" - Photo: VGP

At the same time, geopolitical fluctuations and trade wars force Vietnam to maintain a delicate balance in international relations. With "bamboo" diplomacy - strong roots, flexible trunk, far-reaching branches, Vietnam has firmly maintained independence, autonomy, multilateralization and diversification. The simultaneous establishment of comprehensive strategic partnerships with both the United States and China is a testament to its unique foreign policy mettle - flexible yet steadfast, peaceful yet principled. From the position of "participating in the international game", Vietnam has risen to "shaping the regional rules of the game".

At home, natural disasters, climate change and the energy crisis continue to test governance. Storms, floods, saltwater intrusion, landslides – all make the commitment to net-zero emissions by 2050 both urgent and strategic.

At the same time, the most drastic anti-corruption campaign in history poses a new problem: How to prevent it without paralyzing initiative and the spirit of responsibility.

And above all, it is a test of faith. While many countries fall into a crisis of faith, in Vietnam, faith becomes a source of energy for recovery. People believe, remain united, and move forward – because they see that in difficulty, the State does not abandon anyone, and in challenges, the Party is still the mainstay of the people.

OUTSTANDING ACHIEVEMENTS - COURAGE IN CHALLENGES

In the global maelstrom of crisis and uncertainty, Vietnam has not only held firm – it has thrived. What has made the difference is not luck, but leadership, political cohesion and people’s trust.

Over the past five years, every socio-economic achievement has been marked by the will to overcome difficulties and innovative thinking. It was a period when Vietnam proved that "adversity does not slow us down, but makes us more mature".

Stable macroeconomics – spectacular recovery in the eye of the storm

While many major economies are falling into recession, Vietnam has maintained rare macroeconomic stability. GDP increased from 346 billion USD in 2020 to 510 billion USD in 2025, bringing Vietnam up 5 places, to 32nd in the world and 4th in ASEAN. GDP per capita increased from 3,552 USD to about 5,000 USD, marking a transition to the upper middle-income group. Average inflation is 4%/year, lower than many countries in the region; public debt decreased from 44.3% to 35% of GDP - a record of fiscal discipline.

Vietnam maintains rare macroeconomic stability

In addition, Vietnam still spends more than 1.1 quadrillion VND to exempt, reduce, and extend taxes, fees, and land rents, while increasing revenue and saving up to 1.57 quadrillion VND. This is a rare "two-way" budget balance problem: supporting businesses and people while ensuring national financial security.

That success reflects the Government's flexible management capacity, the support of businesses and the trust of the people - three pillars that create macro-resilience in a turbulent global context.

Infrastructure – a breakthrough to expand development space

If the 1986 Doi Moi opened the way for market economic development, the 2021-2025 term is a major construction of national infrastructure. By the end of 2025, Vietnam will have completed 3,245 km of highways (far exceeding the target of 3,000 km) and 1,711 km of coastal roads, connecting key economic zones. Long Thanh International Airport Phase 1 is basically completed; the Lao Cai - Hanoi - Hai Phong railway is about to start construction. Total public investment capital reached 3.4 million billion VND, an increase of 55% compared to the previous term, while total social investment capital reached 17.3 million billion VND, equivalent to 33.2% of GDP.

It is not just numbers, this is the restructuring of infrastructure for development . Today's infrastructure is not only roads, bridges, ports, but also "trust infrastructure" - the foundation for attracting investment, redistributing population, activating new value chains. From this "infrastructure breakthrough", Vietnam is gradually forming a multi-polar development map: the North with high-tech industry, the Central with maritime economy and tourism, the South with industry and financial services.

Infrastructure – a breakthrough to expand development space

Humanitarian policy – ​​putting people at the center of development

Leadership is not only reflected in growth figures, but first of all in the way the country protects the vulnerable when a crisis strikes. The State has spent nearly 120 trillion VND to support 68.4 million workers and 1.4 million businesses facing difficulties. 689,500 tons of rice have been provided as relief, ensuring social security for millions of poor households. 334,000 temporary and dilapidated houses have been removed, 633,000 social housing units have been started and 100,000 units have been completed by 2025. Thanks to that, the multidimensional poverty rate has decreased sharply from 4.1% to 1.3%, and the average income of workers has increased from 5.5 million to 8.4 million VND/month.

In particular, the health insurance coverage rate reached 95.2% - almost the entire population.

These achievements show that Vietnam does not develop by sacrificing social welfare for growth, but takes people as the center, welfare as the goal, and social security as the foundation. That is the mark of "growth with heart" - a unique identity in the Vietnamese development model.

The mark of "growth with heart" - a unique identity in Vietnam's development model. In the photo, Prime Minister Pham Minh Chinh and students at the groundbreaking ceremony of a boarding school for primary and secondary levels in the mountainous commune of Bat Mot, about 120 km west of Thanh Hoa province's center - Photo: VGP/Nhat Bac

Institutional breakthrough - creating modern management capacity

After more than 35 years of Doi Moi, this term marked an institutional turning point. The Government apparatus was drastically streamlined, reducing 8 focal points (only 14 ministries and 3 ministerial-level agencies, equivalent to a 32% reduction). The two-level local government model was implemented, reducing the number of provinces from 63 to 34, abolishing the district level, and reducing the number of communes from 10,035 to 3,321 - equivalent to a 67% reduction. 145,000 civil servants and public employees were reduced in payroll, saving regular expenditures of 39 trillion VND/year. This is a real "institutional surgery", aiming to build a streamlined, effective and efficient apparatus - shifting from "management" to "service", from "asking - giving" to "delegation of power and responsibility".

At the same time, the State also boldly dealt with 5 weak banks, 12 loss-making projects and reviewed 3,000 backlog projects worth nearly 6 quadrillion VND - releasing a huge amount of assets that had been "frozen" for many years.

All of these things show a Government that acts, dares to do, dares to take responsibility and is gradually building a creative, digital and honest administration.

In a turbulent world, Vietnamese diplomacy has become a bright spot of ruling wisdom. In the photo, Prime Minister Pham Minh Chinh delivered an important speech on ensuring sustainable ocean governance and finance. The Green Economy and Finance Forum took place within the framework of the UNOC 3 Conference, hosted by the Government of Monaco from June 7-8, 2025 - Photo: VGP/Nhat Bac

Reaching international level - affirming Vietnamese mettle on the global chessboard

In a turbulent world, Vietnam's diplomacy has become a bright spot of ruling wisdom. Vietnam currently has diplomatic relations with 195 countries, of which 38 are strategic or comprehensive partners, including 5/5 permanent members of the United Nations Security Council. Vietnam and 17/20 G20 countries. We do not lean towards anyone, but proactively integrate, maintain independence and autonomy. "Vietnam's bamboo tree" has been realized in policy: Sustainable roots (independent principle), resilient trunk (flexible behavior), and far-reaching branches (deep and wide cooperation).

Vietnam today is no longer a follower, but is shaping a new role in the international cooperation network – from global supply chains, energy transition, to regional security.

That success not only brings diplomatic benefits, but also opens up new development space for economics, science, technology and investment.

A more progressive, happier society

Economic growth is only sustainable when it goes hand in hand with social progress. Vietnam’s Happiness Index increased 37 places, from 83rd (2020) to 46th (2025) – demonstrating a marked improvement in quality of life, trust and social cohesion.

The Global Innovation Index ranked 44th out of 139 countries, the highest ever. These are important indicators showing that Vietnam is transforming from a developing economy to a country with creative capacity and a happiness index commensurate with its aspirations to become a powerful nation.

After more than 35 years of Doi Moi, this term marks an institutional turning point. In the photo, Prime Minister Pham Minh Chinh chairs the Government's special meeting on law-making in September 2025 - Photo: VGP/Nhat Bac

From courage to confidence

Each growth figure, each completed project, each improved index – is a slice of Vietnam’s mettle. The 2021–2025 term not only marks the economic recovery after the crisis, but more importantly, it affirms that Vietnam has matured in leadership capacity, is stable in institutions, and confident in its development vision. From the storm, the country has emerged with a new shape – a stable economy, a humane society, and a steadfast nation in a volatile world.

FROM STABLE BASE TO BREAKTHROUGH MOTIVATION

The achievements of this term are not only the destination, but also the launching pad for the future. Three solid pillars have been shaped: Stable economy – streamlined institutions – humane society.

Maintaining low inflation, well-controlled public debt, and a healthy budget in a volatile world is a testament to the country's ability to manage a dynamic and strongly developing country. Breakthrough infrastructure opens up new development space, connects regions, shortens distances, and paves the way for industrialization.

Streamlined institutions help the administrative apparatus respond quickly and operate more effectively. And above all, social trust is rekindled – trust in the Party, in the State, and in the future of the nation.

The two-tier local government model has been implemented. In the photo, Prime Minister Pham Minh Chinh inspects the operation of the public administrative service center in Hung Phu ward, Can Tho city - Photo: VGP/Nhat Bac

The 2021–2025 term is therefore the "golden foundation term" for the breakthrough decade of 2026–2030: A stable economy, a transforming institution, a nation full of creative energy.

Looking back at the 2021-2025 period, we can say: This is a term of faith and courage. But more deeply, it is a "great rehearsal" for national governance capacity in the 21st century.

Three great legacies have been formed: A stable economy ; A moving institution; A growing social trust. From that foundation, Vietnam is entering a new era - an era of creativity, of intelligence and of new stature. If the 20th century was the era of independence, then the 21st century must be the era of creating prosperity. We have weathered the storm, now is the time to set sail and set sail to the open sea.

“We don’t just want to be at the forefront of a changing world – we want to be at the forefront of shaping the future.” And it is in that aspiration that Vietnam is rising strongly - confidently entering the decade of institutional innovation, breakthrough development and affirming national stature.

Dr. Nguyen Si Dung

Source: https://baochinhphu.vn/2021-2025-ban-linh-viet-nam-va-nen-tang-cho-ky-nguyen-vuon-minh-102251021162755086.htm