This achievement comes from the effective coordination of stable macroeconomic policies, public investment flows, FDI, domestic consumption and international integration. With positive signals from both supply and demand, public investment, credit and consumption are expected to continue to be key drivers, creating momentum to boost economic growth in the second half of the year.
Positive growth
The economy went through the first half of 2025 with impressive results, in which the gross domestic product (GDP) growth rate reached 7.52%, the highest level since 2011. This result created a solid foundation but also set higher requirements for the last 6 months of the year, to be able to complete the 8% growth target in the context of many fluctuations in the world . Ms. Nguyen Thi Mai Hanh, Head of the National Accounts System Department (General Statistics Office) said that GDP growth in the first 6 months of 2025 reflected the comprehensive recovery of the economy.
In terms of production, all economic sectors grew quite well, especially the processing and manufacturing industry, which increased by 10.1%. Many key industries (such as garment, leather, rubber, plastic, metal, and motor vehicle production) all grew strongly. In addition, construction activities increased by 9.62% as public investment was strongly promoted, especially in key transport infrastructure projects, power plants, and industrial parks. Market services such as transportation, accommodation, and public administration also recorded double-digit growth.
In terms of aggregate demand, growth was positively supported by all three pillars. Of which, final consumption increased quite high with the stability of household consumption and a sharp increase in state spending. In addition, domestic and international tourism continued to boom, with the number of international visitors in the first 6 months of the year increasing by 20.7% over the same period. The second pillar, asset accumulation, was promoted by the disbursement of public investment capital in key infrastructure projects and the strong increase in FDI inflows into high-tech, semiconductor, AI, etc. fields, creating new production capacity for the economy. The third pillar recorded bustling import and export activities. Total export turnover in the first 6 months reached 219.8 billion USD, up 14.4% over the same period, reflecting efforts to effectively utilize free trade agreements (FTAs) and demand from international markets remained quite good.
The Ministry of Finance also said that June 2025 witnessed an unprecedented breakthrough in the business community and business households, the spirit and confidence of the business community were higher than ever. After exactly 2 months of implementing the Resolutions issued by the Politburo and the National Assembly, a number of important indicators had strong growth such as the number of newly established enterprises (in the first 6 months of the year, nearly 91.2 thousand enterprises, up 60.51% over the same period); the number of enterprises returning to operation in the first half of 2025 was over 61.5 thousand enterprises (up 57.22% over the same period); the number of newly established business households in June 2025 was over 124.3 thousand business households (up 118.4% over the same period).
Realizing the 8% target
According to Ms. Nguyen Thi Mai Hanh, the growth rate of 7.52% is a very positive result. In the last 6 months of the year, Ms. Hanh commented that public investment, credit, consumption and science and technology will be the key driving forces to help the economy accelerate. Of which, public investment will be the most important driving force. Currently, the Government is directing strongly towards the goal of disbursing 100% of public investment capital, especially in key national infrastructure projects.
By the end of June, public investment disbursement reached 29.6% of planned capital, many localities have disbursed over 50% of planned capital. However, to achieve the target of 100% disbursement as planned for the whole year, stronger measures are needed in the coming time. Next is science and technology, digital transformation and innovation with the explosion of AI, digital transformation will open up opportunities for businesses to reduce costs, improve productivity and competitiveness.
In order for GDP to reach 8% or more in 2025, economic expert, Dr. Nguyen Bich Lam, believes that public investment capital will be one of the important driving forces. Meanwhile, the growth momentum based on final consumption is recovering slowly, depending on and lagging behind production activities.
Regarding public investment, Mr. Nguyen Van Than, Chairman of the Association of Small and Medium Enterprises, said that at least 30% of public investment projects should be reserved for small and medium enterprises to participate. They also need development opportunities and cannot only work for large corporations. Currently, the small and medium enterprise sector accounts for 97% of the total number of enterprises nationwide, contributing about 80% of jobs in the private economic sector, but still faces many barriers in accessing capital and market opportunities.
Ms. Nguyen Thi Mai Hanh also said that it is necessary to vigorously promote public investment disbursement, which is the most important driving force. In particular, it is necessary to remove all bottlenecks, speed up the progress of key infrastructure projects, aiming for 100% disbursement. Regarding export stimulation and maximizing the advantages of FTAs, maintaining double-digit export growth. To do this, it is necessary to continue improving the investment environment and attracting high-quality FDI.
Specifically, simplifying administrative procedures, prioritizing high-tech projects, spreading and connecting with domestic enterprises. In addition, domestic market purchasing power needs to be strengthened through promoting consumer stimulus programs, strongly developing the tourism and service industries to exploit the maximum potential. At the same time, it is necessary to improve the capacity to analyze, forecast and build flexible response scenarios to minimize negative impacts from the outside.
Source: https://baolangson.vn/tang-toc-dau-tu-cong-thuc-day-kinh-te-but-pha-trong-nua-cuoi-nam-5052936.html
Comment (0)