The economy continues to achieve comprehensive results despite 'double impact'

(Chinhphu.vn) - At the regular Government meeting in November 2025 held on the morning of December 6, Minister of Finance Nguyen Van Thang affirmed that the more difficulties and challenges we face, the more we strive, steadfastly and determinedly turn the situation around, respond effectively to the situation, and promptly support people in preventing, combating and overcoming the consequences of natural disasters. Thanks to that, despite being "double impacted" by unfavorable external factors and natural disasters, the economy continues to achieve many outstanding and comprehensive results, which are recognized and highly appreciated by the world.

Minister of Finance Nguyen Van Thang speaks at the regular Government meeting in November 2025 - Photo: VGP/Nhat Bac

In November, the world situation continued to develop complicatedly, such as: trade tensions, geopolitical instability in the region; financial, currency, and commodity markets in the world fluctuated, posing many potential risks; natural disasters, historic storms and floods in Thailand, Indonesia, the Philippines... and South Asia caused heavy damage.

In the country, natural disasters, storms and floods have been extremely complex and unpredictable, especially since the beginning of the third quarter. The rare situation of "storm on storm, flood on flood" has caused widespread, historically high flooding, severely affecting people's lives, socio -economic development of localities and the country as a whole.

The Government and the Prime Minister have closely and resolutely led and directed ministries, branches and localities to focus on concretizing laws, resolutions, conclusions and directions of the Central Committee, the Politburo, the Secretariat and the National Assembly; proactively and promptly respond effectively to external situations and natural disasters, storms and floods.

According to the Ministry of Finance's Report, in the context of many difficulties and major challenges, the macro economy was kept stable, inflation was controlled, major balances were ensured; production and business were promoted. The consumer price index (CPI) in 11 months increased by about 3.29% over the same period last year. State budget revenue in 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 towards sustainability. Budget deficit and public debt were well controlled. Energy security and food security were maintained.

Notably, growth drivers continued to be promoted and 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%.

At the same time, production and business grew positively. The Industrial Production Index (IIP) in November increased by 2.3% compared to the previous month and by 10.8% compared to the same period last year; the total increase in 11 months was 9.3%.

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.

The fields of culture, society, social security, and environmental protection continue to receive attention. The education and health sectors focus on preventing, combating, and overcoming the consequences of natural disasters; developing national target programs and submitting to the National Assembly for approval draft laws and resolutions to implement the Politburo's resolutions. National defense, security, and social order and safety are maintained. Foreign affairs and international integration continue to be promoted.

In addition, focusing on preparing for the 14th National Party Congress, continuing to review, guide, and remove obstacles arising in the operation of two-level local governments in conjunction with promoting digital transformation; arranging public service units, state-owned enterprises, and focal points within agencies and organizations; doing a good job of information and propaganda work, contributing to creating consensus and arousing development aspirations in the whole society.

The growth mission is still challenging.

In addition to the achieved results, Minister Nguyen Van Thang also clearly analyzed the existing difficulties and challenges. Specifically, the growth task in 2025 still has many challenges. The remaining time of 2025 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 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 been as expected; investment promotion and attraction of large-scale FDI projects still face obstacles.

Incomplete estimates show that natural disasters caused 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 reduced the country's GDP growth in the fourth quarter by about 0.1%.

In addition, the macro economy is basically stable, but under a lot of pressure. The work of perfecting institutions and laws has been directed with attention, but has not kept up with the development requirements. The natural disaster situation in the last month of the year continues to be complicated and unpredictable. Smuggling, trade fraud, counterfeit goods, etc. often develop complicatedly at the end of the year. Air pollution in large cities continues to need attention.

More drastic and closer in organization and implementation

In that context, Minister of Finance Nguyen Van Thang proposed that all levels, sectors and localities need to be more proactive, resolute and closely follow up in organizing the implementation of a number of key task groups.

Firstly, promptly promulgate and submit for promulgation detailed regulations and instructions for implementing laws and resolutions passed by the National Assembly.

Second, 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.

Third, continue to focus on preventing, combating, and overcoming the consequences of natural disasters, stabilizing people's lives, and restoring production and business. In particular, deploy the "Quang Trung Campaign" to rebuild and repair houses for people; support businesses, cooperatives, and business households to restore operations, avoid supply chain disruptions and contract disruptions; strengthen the capacity of communities and local authorities, especially at the commune level, in preventing and combating natural disasters; review the single-reservoir and inter-reservoir operation procedures, and flood discharge of the hydropower system, ensuring safety and effective response in emergencies; review traffic routes that frequently experience landslides due to floods and rains, thereby providing solutions to overcome and respond...

Fourth, coordinate well in preparing for the organization of the 11th National Patriotic Emulation Congress and the 14th National Party Congress. Ministries, agencies and localities will launch peak emulation campaigns to overcome difficulties, accelerate, make breakthroughs, and create strong changes according to the motto "innovative thinking, development creation, determined action, exemplary leadership, dedicated dedication, serving the people". At the same time, prepare to organize the Inauguration and groundbreaking ceremony of large-scale works and projects on December 19, 2025 to welcome the 14th National Party Congress.

Along with that, it is necessary to continue to improve institutions, laws, reform administrative procedures; promote investment, stimulate consumption and strongly develop new growth drivers, science and technology, innovation, digital transformation; boost exports, develop harmonious and sustainable trade; focus on developing culture and society, preparing for Lunar New Year for the people; effectively implement the conclusions and directions of the Politburo, Secretariat, Central Steering Committee, Government, Prime Minister on rearranging the apparatus, public service units, operating the 2-level local government model, rearranging public assets at the central and local levels; urgently adjust plans, promote new development space of sectors, fields, and localities after rearranging the apparatus and administrative units./.

Minh Ngoc

Source: https://baochinhphu.vn/nen-kinh-te-tiep-tuc-dat-nhieu-ket-qua-toan-dien-du-chiu-tac-dong-kep-102251206094836518.htm