Minister of Finance: Many international organizations forecast to raise Vietnam's growth rate

On the morning of November 8, Minister of Finance Nguyen Van Thang reported at the regular Government meeting in October 2025 on the socio-economic situation.

Minister of Finance Nguyen Van Thang - Photo: VGP

According to Mr. Thang, many international organizations have continued to raise Vietnam's growth forecast in 2025 by 1-1.5%.

Many positive results in difficult context

In October, Standard Chartered Bank raised its growth forecast for Vietnam in 2025 to 7.5% (the forecast at the end of July was 6.1%), and in 2026 to 7.2%; HSBC raised it to 7.9% (previously 6.6%), and in 2026 to 6.7%; UOB Bank raised its growth forecast for 2025 to 7.5% (previously 6.9%); ADB raised it to 6.7%.

Minister Thang said that since the beginning of the year, our country has been steadfast and determined to complete a very large and complicated workload, promptly handling arising issues. Thanks to that, we have maintained macroeconomic stability, controlled inflation, ensured major balances, and promoted production and business.

The consumer price index (CPI) in the first 10 months increased by 3.27% over the same period. Credit growth was high, reaching 20.69% over the same period. The state budget revenue in the first 10 months is estimated at over 2.18 million billion VND, equal to 111% of the estimate and increased by 30.8% over the same period, the budget revenue structure is towards sustainability.

Energy security, food security, supply and demand of essential goods are maintained; budget deficit and public debt are well controlled.

At the same time, traditional growth drivers continued to be promoted and renewed. Total registered FDI capital in 10 months reached over 31.5 billion USD, up 15.6% over the same period. Trade surplus reached nearly 19.5 billion USD. Total retail sales of goods and consumer service revenue in 10 months increased by 9.3% over the same period; international visitors reached nearly 17.2 million, up 21.5%. Production and business grew positively.

Notably, innovation in the development model, implementation of three strategic breakthroughs, breakthrough resolutions of the Politburo and promotion of new growth drivers have achieved many outstanding results. The fields of culture, society, social security and environmental protection continue to be focused. National defense, security and social order and safety are maintained.

Foreign affairs and international integration continued to be a bright spot with the successful organization of the signing ceremony and the High-Level Conference of the United Nations Convention against Cybercrime with the participation of over 110 countries. Vietnam has upgraded its comprehensive strategic partnership with all five permanent members of the United Nations Security Council.

There is a comprehensive report on cutting and simplifying procedures.

However, the Minister of Finance also pointed out that the growth task in 2025 still faces many challenges. Macroeconomic stability is still subject to many external pressures. Institutional and legal improvements have been directed, but there are still problems and have not kept up with development requirements. Natural disasters and consecutive floods have caused heavy damage in many localities and continue to develop complicatedly in the last months of the year.

With the huge amount of work to be done, Mr. Thang proposed a number of key solutions and requirements that need to be implemented. These are to continue to maintain macroeconomic stability, control inflation, and ensure major balances of the economy;

Complete institutions, laws, reform administrative procedures, remove difficulties and obstacles as well as have a comprehensive report on the implementation of cutting and simplifying administrative procedures, report before October 15. Complete the project on state economic development; the project on economic development with foreign investment capital;

Substantially deploy the National Public Service Portal as a "One-stop shop", ensuring the principle that people and businesses "only have to provide information once"; reduce and simplify administrative procedures and business conditions, with the goal of 100% of administrative procedures being performed regardless of administrative boundaries within the province;

Focus on overcoming the consequences of natural disasters, providing effective and practical support to people and businesses to quickly stabilize the situation, restore production and business; strengthen forecasting and timely information on risks of storms, floods, landslides, etc.

Promote investment, stimulate consumption, unleash investment resources, especially new growth drivers, science and technology, innovation, and digital transformation. Boost exports, develop harmonious and sustainable trade.

The Ministry of Finance also proposed focusing on developing a project to build ethical standards and business culture associated with national identity and access the quintessence of world business culture; developing cultural industry and entertainment industry; and implementing the National Target Program on cultural development.

Implementing the Politburo's resolutions on education and training, public health care; preparing for the groundbreaking ceremony for the construction of boarding schools in border communes.

Effectively operate the organizational apparatus, operate the 2-level local government model; review decentralization and delegation of power; have plans to arrange state-owned enterprises and public service units.

NGOC AN

Source: https://tuoitre.vn/bo-truong-tai-chinh-nhieu-to-chuc-quoc-te-du-bao-nang-muc-tang-truong-cua-viet-nam-20251108094447793.htm