The economy in 2025 remains stable, with many bright spots despite the "double impact"

On the morning of December 6, at the regular Government meeting in November, Minister of Finance Nguyen Van Thang affirmed that despite being "double impacted" by unfavorable external factors and natural disasters, the economy continued to achieve many outstanding and comprehensive results, recognized and highly appreciated by the world.

Minister of Finance Nguyen Van Thang speaks at the regular Government meeting in November. Photo: Nhat Bac

6 localities achieved double-digit growth

The report of the Ministry of Finance shows that, in the context of many difficulties and major challenges, the macro economy has been kept stable, inflation has been controlled, major balances have been ensured; production and business have been promoted. The consumer price index (CPI) for 11 months increased by about 3.29% over the same period last year. The state budget revenue for 11 months is estimated at nearly 2.4 million billion VND, equal to 121.9% of the estimate and increased by 30.9% over the same period with the state budget revenue structure moving towards sustainability. Budget deficit and public debt have been well controlled. Energy security and food security have been maintained.

Growth drivers continue to be renewed. Total registered FDI capital in 11 months reached nearly 33.7 billion USD, up 7.4% over the same period last year, realized FDI capital was about 23.6 billion USD, up 8.9%. Total import-export turnover in 11 months is estimated at nearly 840 billion USD, up 17.2%, trade surplus reached 20.53 billion USD. Total retail sales of goods and consumer service revenue in 11 months increased by 9.1%; international arrivals reached 19.15 million, up 20.9%.

Production and business growth is positive. The industrial production index in November increased by 2.3% compared to the previous month and by 10.8% compared to the same period last year. In total, it increased by 9.3% in 11 months.

Notably, it is estimated that 20/34 localities will achieve a GRDP growth rate of 8% or more in 2025, of which 6 localities will have double-digit growth: Quang Ninh, Hai Phong, Ninh Binh, Phu Tho, Bac Ninh and Quang Ngai.

Proactively respond to challenges and promote new growth drivers

However, Minister Nguyen Van Thang also frankly said that the growth task still has many challenges. The remaining time of the year is very short, while growth drivers in investment, consumption, and export continue to face risks and difficulties from the external market, the US tariff policy, and internal problems of the economy.

Disbursement of public investment capital in the first 11 months only reached 60.6% of the plan; the progress of some key projects was greatly affected by landslides, prolonged rains and floods. Private investment has not met expectations; investment promotion and attraction of large-scale FDI projects still face obstacles.

Natural disasters are forecast to continue to develop complicatedly in the last month of the year. Incomplete estimates show that natural disasters will cause the GRDP growth rate in the fourth quarter of Hue City, Dak Lak, Gia Lai, Khanh Hoa... to decrease by about 1%, the whole year to decrease by about 0.2-0.3% and reduce the country's GDP growth in the fourth quarter by about 0.1%.

In that context, according to Minister of Finance Nguyen Van Thang, all levels, sectors and localities need to be proactive, resolute and consistently implement the priority goal of maintaining macroeconomic stability, controlling inflation, ensuring major balances of the economy to create a favorable investment and business environment, promoting rapid and sustainable growth.

Along with that, continue to focus on preventing, combating, and overcoming the consequences of natural disasters, stabilizing people's lives, and restoring production and business. Deploy " Quang Trung Campaign "Rebuild and repair houses for people; support businesses, cooperatives, and business households to restore operations, and avoid disruption of the supply chain.

Minister Nguyen Van Thang also proposed that localities promote investment, stimulate consumption, strongly develop new growth drivers, science and technology, innovation, digital transformation; at the same time, focus on developing culture and society, and preparing for the Lunar New Year for the people.

Mr. Vu

Source: https://daidoanket.vn/kinh-te-2025-giu-vung-on-dinh-nhieu-diem-sang-du-chiu-tac-dong-kep.html