Stable macro economy, budget revenue increased 28.5% over the same period

On the afternoon of November 8, the Government Office held a regular Government press conference to provide information on the socio-economic development situation in October and the first 10 months of 2025.

Opening the press conference, Minister, Head of the Government Office Tran Van Son, Government Spokesperson, said: On the same morning, Prime Minister Pham Minh Chinh chaired the Government's online conference with localities in October 2025 to discuss the socio-economic situation, allocation and disbursement of public investment capital, implementation of national target programs in October and the first 10 months of 2025; key tasks and solutions for the remaining time of 2025.

At the Conference, delegates commented that the world situation continues to fluctuate in a complex and unpredictable manner, with many major challenges: The United States tends to reduce reciprocal tariffs and increase agreements with other countries, but there are still many uncertainties; Many countries and regions continue to reduce operating interest rates, supporting growth, but global financial sustainability has many potential risks; Risks in financial and currency markets are increasing; Strategic competition is evolving in a complex manner, leading to the increase of protectionism and changes in global economic rules.

In the country, many important events took place, especially the 13th and 14th Central Conferences, the 10th Session of the 15th National Assembly. At the same time, we are making every effort to successfully complete the socio-economic goals for 2025 and the entire 2021-2025 term; implement the Politburo 's strategic resolutions; operate the two-level local government; resolutely handle backlogged and prolonged projects and remove the IUU yellow card; prevent and overcome the consequences of many consecutive storms and floods...

Panorama of the regular Government Press Conference in October 2025. Photo: VGP/QP.

The meeting unanimously assessed: In the difficult context, thanks to the correct and timely leadership of the Central Committee, regularly and directly led by the Politburo and the Secretariat, headed by General Secretary To Lam; the coordination, accompaniment and supervision of the National Assembly; the participation of the entire political system; the correct, drastic, practical and effective direction of the Government, the Prime Minister, ministries, branches and localities; the support and active participation of the People, the business community and the cooperation and assistance of international friends, the socio-economic situation continues to trend positively, with each month better than the previous month, and 10 months better than the same period in 2024 in most areas, notably:

The macro economy remained stable, inflation was controlled and growth was promoted, ensuring major balances of the economy. In 10 months, the average consumer price index (CPI) increased by 3.27%; state budget revenue reached 2.18 quadrillion VND, exceeding the estimate by 9.1% and increasing by 28.5% over the same period, despite the exemption, reduction and extension of taxes, fees and land rents of about 217.3 trillion VND. Total import-export turnover reached more than 762.4 billion USD, up 17.4%, with a trade surplus of nearly 19.6 billion USD. All three sectors of agriculture, industry and services grew positively; of which, industry increased by 9.2%, retail and consumer services increased by 9.3%, and agriculture remained stable despite the impact of storms and floods.

Infrastructure projects are being accelerated; it is expected that 3,245 km of expressways and 1,711 km of coastal roads will be completed in 2025. In 10 months, public investment disbursement reached VND491 trillion, reaching 54.4% of the plan. Total registered FDI capital increased by 15.6% over the same period; implemented FDI capital increased by 8.8%.

In addition, in 10 months, 266,000 businesses registered to be newly established and resume operations, an increase of 26.5%. The purchasing managers' index (PMI) in October increased to 54.5 points (compared to 50.4 points in the previous month). Tourism continued to recover strongly; in 10 months, it attracted 17.2 million international visitors, an increase of 21.5%.

The cultural and social sectors are focused on, social security is ensured, and people's lives are improved. The rate of households with increased and unchanged income is 96.1%. Since the beginning of the year, 12,300 tons of rice have been supported to relieve hunger and overcome natural disasters; 4,244 billion VND has been allocated from the central budget reserve to promptly support localities. Many localities have done well in building social housing such as Bac Ninh, Hanoi, Hai Phong, Ninh Binh, Da Nang, Binh Duong... (up to now, the whole country is implementing 648,000 units, over 127,000 units have been completed)

Political and social stability; national defense and security are consolidated and enhanced; social order and safety are ensured. Foreign affairs and international integration are promoted; the signing ceremony of the Hanoi Convention on Cybercrime is successfully organized; relations with the UK are upgraded to a comprehensive strategic partnership; activities in ASEAN and APEC have brought many positive results.

Many localities achieved high growth rates; 16 localities had GRDP growth of 8% or more in the first 9 months (of which 6 localities increased by over 10%: Quang Ninh, Hai Phong, Ninh Binh, Phu Tho, Quang Ngai, Bac Ninh).

Many international organizations continue to positively and optimistically assess Vietnam's economic situation and forecast that by 2025 Vietnam will be among the top countries with the highest growth in the region and the world.

Minister and Chairman of the Government Office Tran Van Son provided information on the socio-economic development situation in October and the first 10 months of 2025 at a press conference. Photo: VGP .

However, in addition to the achieved results, the economy still has limitations, shortcomings and many difficulties and challenges: Inflationary pressure, exchange rates, and interest rates are still high; Production and business activities in some areas are still difficult, especially small and medium enterprises; the number of enterprises that have stopped operating is still large (over 190,000); The 2-level local government model in some places is still confused and not synchronized; Natural disasters, storms, floods, and prolonged heavy rains have severely affected production, business and people's lives (preliminary estimated damage is about 40 trillion VND, reducing the country's GDP growth by about 0.2 percentage points in 2025); Gold and real estate prices remain high...

"In the coming time, we need to continue to grasp the situation, respond proactively, promptly, flexibly and effectively with policies; resolutely not retreating, not being pessimistic in the face of difficulties; not being subjective in the face of favorable conditions; and steadfast in achieving the set goals," the Prime Minister emphasized.

Regarding the key tasks and solutions in the coming time, the Prime Minister requested ministries, branches and localities to resolutely, promptly and effectively implement the resolutions and conclusions of the Central Committee, the Politburo and the Secretariat, especially Conclusion No. 199-KL/TW of the Central Committee dated October 10, 2025 on socio-economic development in 2025 - 2026, the Resolutions of the National Assembly, the Government and the direction of the Prime Minister, most recently Resolution 86/NQ-CP of the Government on implementing key tasks in the last months of 2025, focusing on: Carefully preparing projects, reports to submit to the Central Committee, the Politburo, the Secretariat and the National Assembly at the 10th Session. Prepare to organize the National Emulation Congress well; continue to review and carefully prepare tasks and work to serve the 14th National Party Congress.

At the same time, focus on maintaining macroeconomic stability, controlling inflation, ensuring major balances of the economy, creating a solid foundation for rapid and sustainable growth. Monetary policies are implemented proactively, flexibly, promptly, effectively, closely coordinated, and synchronously with expansionary fiscal policies and other policies.

The Prime Minister requested to focus on controlling inflation according to the set target, ensuring harmony and reasonableness between growth and inflation in both the short and long term. Regarding public investment, it is necessary to promote the disbursement of FDI capital and private investment; take advantage of the space of low public debt and government debt to mobilize capital for development investment.

Overview of the regular Government press conference in October 2025. Photo: VGP/QP.

In addition to renewing traditional growth drivers and strongly promoting new growth drivers, the Prime Minister proposed to resolutely, promptly and effectively implement the Politburo's Resolutions; at the same time, urgently complete and submit to the Politburo in November to issue new Resolutions on the state economy, FDI and culture.

Regarding economic restructuring, it is necessary to focus on improving growth quality and labor productivity; strengthening research and application of science and technology, innovation, digital transformation, green transformation, and creative economy; improving competitiveness and resilience of the economy; and strongly developing strategic industrial sectors and supporting industries.

The Prime Minister also requested localities to focus on implementing and effectively operating the two-tier government model, ensuring smooth, flexible operations and closer proximity to the people. At the same time, priority should be given to removing difficulties for long-standing projects and unlocking development resources. Localities need to proactively prevent, combat and overcome the consequences of storms and floods, quickly restore production and stabilize people's lives.

In addition, it is necessary to focus on developing culture and society, ensuring social security, improving people's lives, and at the same time increasing revenue and saving expenditure to have resources to reform salaries, allowances and subsidies from the beginning of 2026. One of the key tasks is to start construction of nearly 100 inter-level boarding and semi-boarding schools in border communes on November 9, 2025. The Prime Minister also emphasized the need to strengthen national defense and security, maintain social order and safety, promote foreign affairs and international integration; along with that, promoting disbursement of national target programs and strengthening policy communication to create consensus and trust in society.

Along with that, the Prime Minister clearly assigned responsibilities to ministries, branches and localities in implementing the set goals.

Source: https://nongnghiepmoitruong.vn/kinh-te-vi-mo-on-dinh-thu-ngan-sach-tang-285-so-voi-cung-ky-d783158.html