Double-digit growth target sets very high requirements but 'not out of reach'

The National Assembly voted to pass the Resolution on the Socio-Economic Development Plan for 2026, which set a target of 10% or more in GDP growth, along with a target of 5,400 - 5,500 USD in GDP per capita.

Delegate Nguyen Thi Viet Nga ( Hai Phong ) answers questions from VNA reporters. Photo: Hai Ngoc/VNA

Sharing with the press on the sidelines of the National Assembly about this high economic development target, a number of National Assembly deputies affirmed that this is a great political determination, demonstrating strong expectations for the country's new development stage.

Delegate Nguyen Thi Viet Nga (Hai Phong) expressed high agreement and said that the GDP growth target of 10% or more is not only the target for 2026, but also the target oriented in the draft document submitted to the 14th National Party Congress, demonstrating high unity between medium-term and long-term goals.

Delegates believe that the above growth rate demonstrates strong political determination. This goal sets many very high requirements for management, institutional reform, and improving labor productivity. If looking at the overall picture from the trend of supply chain shift, the breakthrough of innovation, digital transformation, to the ability to take advantage of new generation free trade agreements (FTAs) and the implementation of important Resolutions of the Politburo , delegates believe that this goal is "not out of reach" if there are correct, accurate, and timely solutions.

To achieve that, according to delegate Nguyen Thi Viet Nga, it is necessary to continue perfecting institutions, liberating development resources, focusing on removing barriers to investment, land, construction procedures and business environment; innovating credit policies towards supporting practical production and business; along with promoting digital transformation, green economy and circular economy.

Delegates also proposed accelerating public investment disbursement, developing the domestic market to restore purchasing power, continuing to stabilize the macro-economy, controlling inflation, and ensuring major balances by closely and flexibly coordinating monetary and fiscal policies.

Delegate Truong Xuan Cu (Hanoi) said that the GDP target of 10% is a great political determination, increasing from over 8% (in 2025) to 10% is "a great acceleration". According to the delegate: "The entire political system and the entire population must participate", including the household economy, the private economy...; at the same time, policies and guidelines need to have "great openness" to respond to the changing situation of the world.

The delegate also said that it is necessary to continue to promote advantages such as ensuring construction progress and disbursement of public investment, while continuing to practice thrift, combat waste and negativity. Regarding external forces, it is necessary to continue to attract FDI capital to take advantage of science and technology as well as management level, while increasing exports and expanding export markets. In particular, the delegate noted macroeconomic stability and inflation control, especially when lowering interest rates to facilitate business can hide inflationary problems; and policies to respond to the rising world gold prices and the value of the US dollar.

Delegate Tran Anh Tuan (Ho Chi Minh City) shared his belief that the 10% growth target in 2026 and the following years is "achievable", although it is a "big challenge". To realize this goal, according to the delegate, Vietnam needs to mobilize domestic and foreign resources such as financial resources, human resources, material resources and effectively use existing resources, especially large resources such as land.

In addition, the delegate emphasized the need to "liberate good production capacity", have a strong consumer market for domestically produced goods, and at the same time, diversify the export market. The delegate also noted the need to overcome bottlenecks in markets with "high reciprocal taxes", such as the current US market.

The solutions and political determination proposed by National Assembly delegates show that to achieve the target of double-digit growth next year and the following years, careful preparation is needed, from liberating and mobilizing all development resources to diversifying export markets...

Source: https://baotintuc.vn/thoi-su/muc-tieu-tang-truong-2-con-so-dat-ra-yeu-cau-rat-cao-nhung-khong-ngoai-tam-voi-20251114144557560.ht