Deputy Prime Minister Nguyen Chi Dung stated that achieving a growth rate of over 8% in 2025, despite the difficulties and challenges, is supported and met with strong determination from the central government, local authorities, and the entire society.
Renew the drivers of growth.
Regarding objectives and targets, the draft Resolution clearly states that the overall goal is to consolidate and prepare the fundamental elements for the successful implementation of the 10-year socio -economic development strategy 2021-2030, marking the point at which the country enters a new era of development, contributing to creating a solid foundation for achieving double-digit growth rates in the 2026-2030 period.
In order to contribute to creating a solid foundation for achieving double-digit growth in the coming period, according to the supplementary report on the socio-economic development plan for 2025 with a growth target of 8% or more, the growth scenario has also been revised to achieve the new target. Accordingly, the growth of the industrial and construction sector is approximately 9.5% or more (of which, the processing and manufacturing industry is expected to grow by 9.7% or more); services by 8.1% or more; and agriculture, forestry, and fisheries by 3.9% or more).
According to this scenario, economic sectors accelerate, achieving higher growth rates than in 2024, ranging from 0.7% to 1.3% or more; in which, industry and construction, especially manufacturing, continue to be the driving force behind economic growth.
According to the new scenario, the GDP in 2025 will reach over $500 billion, and the GDP per capita will exceed $5,000.
Regarding growth drivers (investment, consumption, and exports), the Government estimates that total social investment will be approximately US$174 billion or more, roughly 33.5% of GDP (US$3 billion higher). Of this, public investment will be approximately US$36 billion (equivalent to VND 875,000 billion, about VND 84,300 billion higher than the planned target of VND 790,700 billion for 2025).
Private investment is projected at approximately US$96 billion, foreign direct investment (FDI) at approximately US$28 billion, and other investments at approximately US$14 billion. Total retail sales of goods and consumer service revenue (at current prices) are expected to increase by 12% or more in 2025. Total import and export turnover is projected to increase by 12% or more in 2025; the trade surplus is expected to be around US$30 billion. The average CPI growth rate is projected at 4.5-5%.
The report also stated that, according to the Government, the conditions for achieving a growth scenario of 8% or more include, firstly, new thinking, new approaches, breakthroughs in institutions and solutions, and thorough decentralization and delegation of power. It also emphasizes completing the streamlining of the organizational structure to ensure efficiency and effectiveness, without negatively impacting citizens or businesses in the short term.
Furthermore, it is necessary to promote the leading role of growth-driven regions, economic corridors, and growth poles. Specifically, the GRDP growth rate of localities in 2025 should be at least 8-10%, especially Hanoi, Ho Chi Minh City, and other potential localities and major cities that serve as growth engines and poles, striving for higher growth rates than the national average; appropriate incentive mechanisms should be in place for high-growth localities, with contributions to the central government.
At the same time, we must strengthen and renew traditional growth drivers such as investment, consumption, and exports; vigorously develop science and technology, innovation, digital transformation, and high-quality human resources to become increasingly important drivers and factors in promoting growth.
If necessary, the state budget deficit may be adjusted to approximately 4-4.5% of GDP to mobilize resources for development investment; public debt, government debt, and foreign debt may reach or exceed the warning threshold of approximately 5% of GDP.
"Offering suggestions" for solutions
According to Deputy Prime Minister Nguyen Chi Dung, we don't have much time left, while there is still much work to be done.
Regarding tasks and solutions, the Secretary General of the National Assembly and Head of the National Assembly Office, Le Quang Tung, stated that the National Assembly basically agrees with the tasks and solutions proposed by the Government and the National Assembly's agencies. He also requested the Government and relevant agencies to focus on implementing the following five main tasks and solutions: accelerating the improvement of institutions and laws, and enhancing the effectiveness of law enforcement.
Accordingly, the approach to lawmaking should be reformed towards a "strict management while fostering development" mindset, abandoning the "if you can't manage it, ban it" mentality; emphasizing the "results-based management" method, and shifting strongly from "pre-audit" to "post-audit" coupled with enhanced inspection and supervision.
At the same time, create a favorable environment for investment, production and business, scientific and technological development, innovation, and promote digital transformation; continue to improve the legal framework to promote the rapid, healthy, and efficient development of various markets (finance, securities, science and technology, labor, real estate, etc.).
At the same time, it is urgent to implement the laws and resolutions passed by the National Assembly, especially those concerning the reorganization of agencies, ensuring continuous, smooth operation with higher efficiency; perfecting regulations on organizational structure, promoting decentralization and delegation of power to serve the implementation of the revolution in reorganizing the organizational structure towards a lean, compact, strong, efficient, effective, and effective system.
In addition, focus resources on completing a comprehensive and modern strategic infrastructure; unlock and effectively utilize public investment resources; and at the same time, focus on reforming administrative procedures, improving the investment and business environment, creating all conditions to quickly resolve investment procedures and difficulties in investment and business activities, and encouraging investment from all economic sectors.
On the other hand, it is necessary to strengthen and renew traditional growth drivers; in particular, perfecting tax and credit mechanisms and policies to support increased purchasing power, stimulate domestic consumption and tourism; and at the same time, strongly promote new growth drivers and develop new, advanced productive forces.
Proposing solutions, delegate Trinh Xuan An (Dong Nai delegation) suggested that while there are many overall tasks, there are also immediate solutions. Accordingly, solutions that can be implemented immediately should be prioritized, while long-term solutions should be implemented through the usual procedures.
"To achieve a growth target of 8% or more, increased investment and capital are needed. While I agree with increasing public investment, there should be targets for private investment," Mr. An said.
According to Mr. An, private investment is currently growing at 7-9% and has shown a downward trend recently. Therefore, private investment needs to grow at a double-digit rate, and to achieve that, credit resources must also be boosted.
Along with that, Mr. Xuan An also agreed with the government's change in governance methods when assigning growth targets to localities, such as Hanoi and Ho Chi Minh City being assigned growth targets of 8-8.5%. He suggested that since these are the two growth engines, could these two cities achieve double-digit growth? If the two cities achieve double-digit growth, then the overall national target will be met.
Meanwhile, delegate Nguyen Van Than (from Thai Binh province), Chairman of the Vietnam Association of Small and Medium Enterprises, suggested that a Resolution is needed to regulate the coordination and linkage between small and medium enterprises and large enterprises, between large enterprises themselves, and with FDI enterprises.
Projects should not be overly concentrated in one another; government projects should be decided by the Prime Minister, ministerial projects by the ministry, and provincial projects by the province. This is to avoid complications during the bidding process.
In addition, delegates argued that it is necessary to trust and entrust projects to private enterprises. Finally, they called for removing bottlenecks in the implementation of projects that violate or are hampered by the law, in the spirit of promoting socio-economic development.
It is understood that immediately after the National Assembly approves this plan, the Government will hold a conference with all localities, and each locality must achieve the growth targets assigned to it.
"With what we have been doing, the GDP growth target for this year will be achieved at over 8%," Deputy Prime Minister Nguyen Chi Dung expressed his confidence.
Source: https://doanhnghiepvn.vn/tin-uc/-hien-ke-de-dat-muc-tieu-tang-truong-gdp-tren-8/20250219102404236
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