Strive for GDP growth in 2026 to reach 10% or more, GDP per capita to reach 5,400-5,500 USD

Prime Minister Pham Minh Chinh presented a report on the implementation results of the socio-economic development plan for 2025 and the 5-year period 2021-2025; and the projected socio-economic development plan for 2026.

The 2021-2025 term achieved and exceeded 22/26 socio-economic targets.

On the morning of October 20, at the opening session of the 10th Session of the 15th National Assembly , Prime Minister Pham Minh Chinh presented a report on the implementation results of the socio-economic development plan for 2025 and the 5-year period 2021-2025; and the projected socio-economic development plan for 2026.

Reporting to the National Assembly, Prime Minister Pham Minh Chinh stated that in the context of the complicated and unpredictable developments in the world , with many issues beyond forecast, especially the severe consequences of the Covid-19 pandemic; in the country, in general, there are more difficulties and challenges than opportunities and advantages; however, with high determination, great efforts and drastic actions, Vietnam has achieved and exceeded 22/26 main socio-economic targets, approximately reaching 2/26 targets, of which exceeding all social and social security targets; in 2024 and 2025, it will achieve and exceed all 15/15 socio-economic targets.

In particular, Vietnam has successfully controlled and effectively overcome the Covid-19 pandemic with the spirit of "Putting people's health and lives first and foremost", which has been recognized and highly appreciated by the international community.

Vietnam's economy has affirmed its resilience and maintained a high growth rate. GDP in 2025 is expected to increase by more than 8%; the average increase in the 2021-2025 period is 6.3%, higher than the previous term. The size of the economy increased from 346 billion USD in 2020 to 510 billion USD in 2025, up 5 places, to 32nd place in the world; GDP per capita in 2025 is estimated to reach 5,000 USD, 1.4 times higher than in 2020, putting Vietnam in the upper middle-income group.

Party and State leaders and former leaders at the opening session of the 10th Session of the 15th National Assembly.

The macro economy is basically stable; inflation is controlled under 4%, state budget revenue is estimated at 9.6 million billion VND, far exceeding the set target. Total social investment capital reaches about 33.2% of GDP; FDI reaches 185 billion USD, among the 15 developing countries attracting the largest FDI in the world. Trade scale increased sharply, reaching a record 900 billion USD, trade surplus 88.3 billion USD.

Three strategic breakthroughs were implemented drastically and effectively; the law-making work was comprehensively reformed, with more than 180 laws, ordinances, and resolutions being submitted to the National Assembly for approval and 820 decrees issued - the most in a single term. Science and technology, innovation, and digital transformation achieved many positive results; 100% of communes and wards have fiber optic broadband infrastructure, and mobile Internet speed is among the top 20 in the world.

The fields of culture, society, education, health, and social security have made much progress. The multidimensional poverty rate decreased from 4.4% in 2021 to 1.3% in 2025; the target of eliminating temporary housing was completed 5 years and 4 months early with more than 334,000 houses. The health insurance coverage rate reached 95.2%, the average income of workers increased from 5.5 to 8.3 million VND/month.

Prime Minister Pham Minh Chinh presented the report.

Resolutely and effectively implement the arrangement and streamlining of the Government apparatus and the organization of two-level local governments in conjunction with promoting decentralization and delegation of power. The state administrative staff will be reduced by 145,000 people; regular expenditure will be reduced by 39,000 billion VND/year. The activities of two-level local governments will gradually become routine; the state will change from administrative management to serving the people and creating development.

Foreign affairs and international integration are bright spots, Vietnam's prestige and position have been enhanced. Vietnam was re-elected to the United Nations Human Rights Council for the 2026-2028 term, and has established comprehensive partnerships, strategic partnerships, and comprehensive strategic partnerships with 38 countries, including 5/5 permanent members of the United Nations Security Council and 17 G20 members.

In general assessment, Prime Minister Pham Minh Chinh affirmed that, in the context of many difficulties and challenges, the results achieved in 2025 and the 2021-2025 period are very valuable and proud; each year is better than the previous year, this term is better than the previous term in most areas.

“In particular, we have maintained 'warm inside, peaceful outside', which has been highly appreciated by the people and the international community; continued to create a trend of innovation; created momentum for rapid and sustainable development; created a force for inclusive and comprehensive development; created momentum to enter a new era and consolidated and strengthened the people's firm belief in the Party and State,” Prime Minister Pham Minh Chinh emphasized.

Party and State leaders and former leaders, along with National Assembly deputies, attended the opening session of the 10th Session of the 15th National Assembly.

Strive for growth of 10% or more by 2026

In addition to the achievements, the Prime Minister also frankly pointed out a number of limitations and difficulties. Accordingly, the pressure to stabilize the macro-economy is still great. Mechanisms and policies are not strong enough to effectively exploit resources from people, nature, culture and to protect the environment.

The real estate, gold, and bond markets are still complicated. Production and business in some areas are still difficult. Science and technology, innovation, and digital transformation have not really become the main growth drivers…

In that context, the Prime Minister identified the general goal for 2026 as promoting growth, maintaining macroeconomic stability, controlling inflation, ensuring major economic balances; enhancing strategic autonomy, innovating the development model, promoting industrialization, modernization and urbanization.

15 main targets are set, in which GDP growth reaches 10% or more, GDP per capita reaches 5,400-5,500 USD, average CPI increases about 4.5%, social labor productivity increases about 8%, poverty rate decreases from 1-1.5%.

Prime Minister Pham Minh Chinh presented the report.

To achieve the above goals, the Prime Minister stated that the Government focuses on investing in strategic infrastructure, including the Lao Cai-Hanoi-Hai Phong railway, the North-South high-speed railway, Long Thanh International Airport Phase 2, major sports centers in Hanoi and Ho Chi Minh City, and international transit seaports.

Along with that, promote the development of digital economy, green economy, circular economy, semiconductor industry, artificial intelligence; deploy digital government, digital society, digital citizens; start construction of semiconductor chip factories, build international financial centers in Ho Chi Minh City and Da Nang.

The Government focuses on developing high-quality human resources, promoting English as a second language, teaching and learning artificial intelligence (AI) in high schools, and quickly training 100,000 engineers in the fields of semiconductor chips and AI.

Social security, poverty reduction, environmental protection, and climate change response continue to be prioritized. At the same time, national defense and security must be strengthened, social order and safety must be ensured, and proactive preparations for the 14th National Party Congress, the 16th National Assembly elections, and APEC 2027 in Vietnam must be made.

National Assembly delegates attending the session.

The Prime Minister emphasized that the past term was a journey of strong will, steadfastness, and creative intelligence; a journey of faith, aspiration, and the spirit of overcoming difficulties for the country and the people.

In the face of difficulties and challenges, under the leadership of the Central Committee, directly and regularly led by the Politburo and the Secretariat, headed by the General Secretary, Vietnam has turned danger into opportunity, turned thinking into resources, turned challenges into motivation, mobilized strength from the people, achieved very valuable and proud achievements, leaving a deep mark in the process of national development and maturity in all aspects.

Expressing gratitude and looking forward to continuing to receive the leadership and direction of the Central Executive Committee, the Politburo, the Secretariat, headed by General Secretary To Lam, along with the support of the National Assembly, the Vietnam Fatherland Front, the support of compatriots, voters nationwide, overseas Vietnamese and international friends, the Prime Minister affirmed: "With faith and aspiration, the Government will be a pioneer, exemplary, leading, and willing to devote all its capacity, intelligence and responsibility, together with the whole country, firmly advancing into a new era, an era of peace, prosperity, civilization, happiness, firmly advancing towards socialism".

Source: https://baothainguyen.vn/kinh-te/202510/phan-dau-tang-truong-gdp-nam-2026-dat-tu-10-tro-len-gdp-binh-quan-dau-nguoi-dat-5400-5500-usd-3021cfc/