Socio-economic development by 2025 meets and exceeds all targets

Continuing the 50th Session, on the morning of October 15, the National Assembly Standing Committee listened to and commented on the Government's reports on the results of the implementation of the 2025 socio-economic development plan, the projected 2026 socio-economic development plan; the results of the implementation of the National Assembly's resolutions on the 5-year plan for the 2021-2025 period: socio-economic development, economic restructuring.

Representative of the Ministry of Finance speaking. Photo: Tuan Anh/VNA

Vice Chairman of the National Assembly Vu Hong Thanh chaired the discussion session.

On behalf of the Government, Deputy Minister of Finance Nguyen Duc Chi presented the Report, summarizing the main points in the Government's reports. The Deputy Minister emphasized that the socio -economic situation in 2025 continued to achieve many important and comprehensive results in most areas.

According to Deputy Minister Nguyen Duc Chi, the outstanding socio-economic situation in 2025 is that the macro economy is maintained, economic growth is high, inflation is controlled, major balances are ensured; it is expected to achieve and exceed 15/15 main targets of 2025; GDP growth nationwide is estimated at 8%, inflation is estimated to be controlled at 4%; GDP per capita is estimated at over 5,000 USD, making Vietnam a country with an upper middle income; resolutely implementing revolutions to arrange and streamline the Government apparatus and implement a 2-level local government organization model associated with promoting decentralization and delegation of power as well as shifting from administrative management to development creation, serving the people; perfecting institutions and laws has achieved many outstanding results, especially the thinking of building laws, removing bottlenecks, clearing resources for development, creating clear changes in the investment and business environment; continue to effectively prevent and combat corruption, waste and negativity.

Also in 2025, strategic infrastructure development achieved many outstanding results, opening up new development space; achieving and exceeding the target of completing 3,000 km of expressways and 1,700 km of coastal roads.

Macroeconomic restructuring associated with growth model innovation continues to be promoted; handling weak banks, slow-progressing, ineffective, and long-standing projects and enterprises has achieved positive results.

Breakthroughs in science and technology, innovation, and digital transformation have achieved positive results. The Global Innovation Index 2025 ranked 44th out of 139 countries, third in the ASEAN region.

There are many clear positive points in cultural and social development; social security is guaranteed; a series of activities to celebrate the country's major holidays are successfully organized, the cultural and entertainment industry is promoted; social security work is done well, and the target of eliminating temporary and dilapidated houses is completed ahead of schedule. The quality of education and training has many clear and substantial changes. The happiness index in 2025 is ranked 46th in the world, up 8 places compared to 2024...

Reporting on the results of the 2021-2025 period, Deputy Minister Nguyen Duc Chi said that, in general, the Government basically completed the development goals, targets and tasks, basically each year was better than the previous year; especially completing all social targets; in particular, for the economic target, the average GDP growth for the whole 2021-2025 period is estimated at 6.3%, approximately the set target (6.5% to 6.7%). If excluding 2021 (due to the impact of the COVID-19 pandemic), the 2022-2025 period reached about 7.2% per year, exceeding the target.

Presenting the report on the review of the Government's reports, Chairman of the Economic and Financial Committee Phan Van Mai said that the Standing Committee of the Committee assessed that in 2025 and the 2021-2025 period, socio-economic development achieved comprehensive and outstanding results, demonstrating breakthrough efforts in the last two years of the term.

However, the Standing Committee of the Economic and Financial Committee also pointed out difficulties and challenges that need to be further assessed. Accordingly, the growth momentum is not strong. The growth target is under pressure because the main drivers (export, consumption, investment) have not really created a strong enough momentum. Exports still depend heavily on the FDI sector... Growth quality is still limited. The economy still relies mainly on processing, importing raw materials and technology. The localization rate is only 36.6%. Labor productivity is low; improvement is slow, the average for the period 2021-2025 is only 5.24%, much lower than the target of 6.5%.

Macroeconomic stability is at risk when the prices of some essential goods increase, affecting people's lives. Real estate credit is increasing rapidly (nearly 17% by the end of July 2025), while capital for production and business is still difficult.

The work of perfecting legal institutions has not kept up with development requirements. There are still 55 detailed regulations that have not been issued, and some regulations are still overlapping...

Regarding the socio-economic development orientation for 2026, Chairman of the Economic and Financial Committee Phan Van Mai said that the Standing Committee of the Committee emphasized that 2026 is the first year of implementing the Resolution of the 14th National Party Congress and the 5-year plan for 2026-2030; basically agreeing with the Government's target for 2026, in which striving to achieve the GDP growth target of 10% or more along with key groups of solutions.

Discussing at the meeting, members of the National Assembly Standing Committee focused on giving opinions on the suitability and feasibility of growth targets for 2026, while emphasizing the need to maintain macroeconomic stability, tightly manage monetary policy, promote the leading role of fiscal policy, and expand new growth drivers such as digital transformation and green energy.

Some opinions of members of the National Assembly Standing Committee discussed solutions to stabilize and make transparent financial markets (gold, real estate), improve the business environment, and make institutional breakthroughs in 2026 to remove bottlenecks in public investment and social capital mobilization.

Concluding the discussion session, Vice Chairman of the National Assembly Vu Hong Thanh stated that the National Assembly Standing Committee acknowledged that the Government's reports were carefully and seriously prepared, with many contents updated and thoroughly analyzed. The reports comprehensively reflect the socio-economic situation and economic restructuring in 2025 as well as the 2021-2025 period.

However, the National Assembly Standing Committee emphasized that, in addition to important results, our country's socio-economic situation still has a number of difficulties and challenges that need special attention in the management work in the coming time, such as great growth pressure due to the main growth drivers (export, investment, domestic consumption) not creating strong momentum; the progress and efficiency of public investment disbursement are not as expected; the quality of growth and labor productivity improvement is still slow; the growth model still relies heavily on capital and labor; the economy is highly open, affected by and dependent on foreign direct investment...

The Vice Chairman of the National Assembly requested the Government to accept the opinions of the National Assembly Standing Committee and the review agencies. The National Assembly Standing Committee agreed to submit to the National Assembly for consideration and decision the main goals, targets and solutions for socio-economic development in 2026 as submitted by the Government.

Scene of the meeting on the morning of October 15. Photo: Tuan Anh/VNA

* During the remaining time of the session, the National Assembly Standing Committee listened to and commented on the Government's reports on the implementation of the 2025 state budget, the state budget estimate, and the central budget allocation plan for 2026 (including the 3-year state budget-finance plan for 2026-2028; the implementation of the 2025 state budget public investment plan, the expected state budget public investment plan for 2026; the implementation of the 2025 financial plan, the expected 2026 financial plan of non-budget state financial funds managed by the central government); the results of implementing the National Assembly's Resolutions on the 5-year plan for the 2021-2025 period: medium-term public investment; national finance and borrowing and repayment of public debt; projected national five-year financial plans for the 2026-2030 period; medium-term public investment for the 2026-2030 period.

Source: https://baotintuc.vn/thoi-su/phat-trien-kinh-te-xa-hoi-nam-2025-dat-va-vuot-tat-ca-cac-chi-tieu-20251015114618459.htm