Accelerate, break through, and lay the groundwork for an era of growth.

The government not only aims for a growth rate of 7-7.5% as decided by the National Assembly , but sets a higher goal: to maintain momentum, accelerate growth, and strive for a breakthrough, aiming for an 8% growth rate in 2025, creating the foundation for a new era of national development.

Attracting investment into new, high-tech industries and sectors will create breakthroughs for growth drivers.

Maintaining momentum, keeping pace, and accelerating for breakthroughs: The eighth session of the 15th National Assembly, which recently concluded, approved the Socio -Economic Development Plan for 2025. One of the main objectives decided by the National Assembly is to achieve GDP growth of 6.5-7%, striving to reach 7-7.5% next year. Just a few days after the Resolution was passed by the National Assembly, the Government set even higher goals and expectations for 2025, the final year of the 2021-2025 five-year plan, and also the year of preparation for the next five-year plan, 2026-2030. That is, instead of striving for GDP growth of 7-7.5%, the Government aims for a higher target of approximately 8% to create momentum and impetus for achieving socio-economic development goals for the entire 2021-2030 period. This was emphasized by Prime Minister Pham Minh Chinh at the National Conference on the Implementation and Review of Resolution 18-NQ/TW of the 12th Central Committee of the Communist Party of Vietnam, held on December 1, 2024. This is a high goal, given that the global and Vietnamese economies are projected to continue facing difficulties, with even more challenges than opportunities in 2025. This goal reflects the government's determination to accelerate economic growth and achieve breakthroughs in 2025, in order to reach even greater goals, namely, "creating a solid foundation for the country to enter a new era, an era of striving to become a wealthy, prosperous nation, and for its people to be increasingly happy and well-off," as stated by Prime Minister Pham Minh Chinh. The foundation for achieving the 2025 plan's goals is the result of 2024. To date, although official figures are not yet available, many forecasts indicate that GDP growth in 2024 will reach approximately 7%, higher than the 6-6.5% target set by the National Assembly. With this result, Vietnam is among the few countries with high growth rates in the region and the world. Statistical data on the socio-economic situation in the first 11 months has further reinforced this forecast. For example, the total import and export turnover of the whole country is estimated at approximately US$715 billion, an increase of 15.3% compared to the same period last year, with a trade surplus of over US$23 billion; the estimated total for the whole year is US$807.7 billion, the highest ever. Foreign investment attracted in the first 11 months reached approximately US$31 billion, continuing the positive trend, while implemented capital reached US$20.4 billion – the highest ever. With the economy recovering, the business sector also developed more positively; in the first 11 months, 220,800 new businesses were established or resumed operations, an increase of 9.6% compared to the same period last year… Thanks to more vibrant economic activities, state budget revenue in the first 11 months reached 106.7% of the projected amount and increased by 16.4% compared to the same period last year; the estimated revenue for the whole year will exceed the projected amount by over 10%… These are important economic indicators demonstrating the recovery of the economy, which both the Government and the National Assembly's review bodies highly appreciated at the Eighth Session of the 15th National Assembly. The major task entrusted by the Party: The 8% growth target is not only a goal set by the Government, but also a major task entrusted by the Party. Speaking at the National Conference on the Implementation and Review of Resolution 18-NQ/TW of the 12th Central Committee of the Communist Party of Vietnam, General Secretary To Lam emphasized the need to achieve the socio-economic development goals set forth in the Resolution of the 13th National Party Congress. Among the resolutions of the 13th National Party Congress, the average growth target for the 5-year period 2021-2025 was set at 6.5-7%. Meanwhile, the target for the entire 10-year period 2021-2030 is an average GDP growth of approximately 7%. In the early years of the 2021-2025 5-year plan, due to the impact of the Covid-19 pandemic and global geopolitical fluctuations, GDP growth slowed down, affecting the achievement of the growth targets for both the 2021-2025 5-year plan and the 2021-2030 10-year strategy.

The government aims for a higher target, achieving growth of around 8% to create momentum and drive for the implementation of socio-economic development goals for the entire 2021-2030 period.

Therefore, General Secretary To Lam emphasized that to achieve the socio-economic development goals set forth in the Resolution of the 13th National Congress, it is necessary to innovate thinking, to "unleash" progress, to be decisive, to make breakthroughs, and to surpass oneself. "To reach the goal of a high-middle income for the people by 2030 and a high income by 2045, Vietnam's economic growth rate must consistently achieve double digits in the following years. This is a very difficult problem that we must solve," General Secretary To Lam said, stressing that only a "simplified solution" can provide a timely answer. According to the General Secretary, the "simplified solution" is to focus on resolving bottlenecks and creating the foundational elements for the country to "take off," especially issues related to infrastructure such as transportation systems, energy infrastructure, human resources, physical facilities, institutional reform, and administrative procedures... "In the short term, we need to implement comprehensive solutions to strive to achieve and surpass the GDP growth targets for 2024 and 2025, aiming for double-digit growth starting from now. This is something we have a solid foundation to achieve," the General Secretary instructed. To solve this problem, the Government has put forward a series of solutions, including focusing on implementing three strategic breakthroughs, considering institutional improvement as the "breakthrough of breakthroughs"; streamlining the administrative apparatus for efficiency; The priority remains on promoting growth while maintaining macroeconomic stability, sustaining momentum, and accelerating breakthroughs in 2025; renewing traditional growth drivers and fostering breakthroughs in new growth drivers… In this regard, Minister of Planning and Investment Nguyen Chi Dung has repeatedly emphasized the need to create breakthroughs in new growth drivers by increasing investment attraction into new, high-tech industries and sectors, such as semiconductor chips, artificial intelligence, cloud computing, and the Internet of Things… Among these, the semiconductor industry is one of the areas where Vietnam has many opportunities. This will be one of the fundamental factors helping the Vietnamese economy accelerate and break through in the coming period, creating a foundation for the country to enter an era of prosperity and strength.

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Source: https://baodautu.vn/tang-toc-but-pha-tao-tien-de-cho-ky-nguyen-vuon-minh-d231576.html