Promoting many solutions to contribute to achieving the growth target of 8.3-8.5%

(Chinhphu.vn) - According to the calculations of the Ministry of Construction, completing the targets is feasible to contribute to the growth target of 8.3-8.5%, especially in the context that the Ministry of Construction is actively promoting restructuring.

Minister of Construction Tran Hong Minh reported on the implementation of the Socio-Economic Development Plan and proposed a number of tasks and solutions for the industry - Photo: VGP/Nhat Bac

Feasibly achieve goals that contribute to overall growth goals

Minister of Construction Tran Hong Minh reported on the implementation of the Socio -Economic Development Plan and proposed a number of tasks and solutions of the industry to contribute to the implementation of the 2025 growth target at the Government's online conference with localities to give opinions on the 2025 Economic Growth Scenario and tasks and solutions to achieve the 2025 growth target, on the morning of July 16.

Accordingly, from the first months of 2025, the Ministry of Construction has assigned units under the Ministry to calculate and develop growth scenarios and key indicators of the industry to achieve the above growth target. According to the Ministry of Construction's estimates, to serve the economic growth target of about 8% or more, the construction industry needs to grow by 9.0% or more; economic sectors under the management of the Ministry of Construction are estimated to account for about 17.23% of the country's GDP value (an increase of about 0.17% compared to 2024), thereby contributing about 1.96 percentage points of growth to GDP growth.

As a result, in the first 6 months of 2025, the construction industry increased by 9.62% over the same period last year, the highest growth rate compared to the same period in the 2021-2025 period2, contributing 0.63 percentage points to growth and together with the industry, accounting for 36.96% of the national economic structure.

Regarding the implementation of infrastructure projects, many positive changes have been recorded, many important national transport infrastructure projects have exceeded the set schedule by 6-9 months, and some additional sections of 6 routes have been put into operation. The North-South Expressway Eastern component project, bringing the total length of expressways in operation nationwide to 2,268 km; basically completing Long Thanh International Airport - Phase 1, one of the most important aviation infrastructure projects of the country.

According to the Minister of Construction, the early completion of these projects will contribute to reducing logistics costs, creating new development space for localities after the merger, establishing connections between regions in the country and internationally, gradually meeting the requirements of socio-economic development, ensuring national defense and security, improving people's lives, contributing to hunger eradication and poverty reduction, better serving people's travel needs, ensuring social security, and improving the competitiveness of the economy.

Attracting private and foreign investment in infrastructure development continues to be positive. In the first 6 months of 2025, newly registered foreign capital for real estate business activities reached 2.25 billion USD, accounting for 24.2% of the total newly registered capital nationwide.

Urban transport infrastructure development regularly receive the Ministry's attention and direction. By the end of June 2025, Vietnam's urbanization rate is estimated at 44.3%. Many urban infrastructure projects, renovation of old apartments, technical infrastructure for water supply and drainage, and waste treatment are being focused on and implemented to ensure social security.

Regarding housing and real estate market management, it has researched, developed and submitted to competent authorities for pilot issuance of a number of specific mechanisms and policies for social housing development, promoting the implementation of social housing projects in 27 localities. As of June 30, 2025, 35,631/100,000 units have been completed, 26 projects with a scale of 23,561 units have been started. 136/788 units have been reviewed and removed. Real estate projects with difficulties and problems and synthesize other projects to transfer to the Ministry of Finance for research and handling according to regulations.

The implementation of the growth targets of the Ministry of Construction is expected to be in line with the requirements set by the industry in the last 6 months of the year, such as: Disbursement of all Public investment plan 2025; Complete 100,000 social housing and promote the real estate market; Maintain growth in transportation activities at about 13%; Cement consumption output reaches about 95 - 100 million tons, up 2 - 3%.

"According to the calculations of the Ministry of Construction, the completion of the above targets is feasible to contribute to the growth target of 8.3-8.5%, especially in the context that the Ministry of Construction is actively promoting the restructuring of state-owned enterprises and strengthening the construction and application of solutions on science and technology development, innovation and digital transformation. Moreover, the completion of the disbursement target of the Public Investment Plan, accelerating the implementation of important national transport infrastructure projects also spreads to many other industries such as construction materials, real estate, finance, transportation-warehousing (logistics), machinery manufacturing, and even residential consumption" - Minister of Construction Tran Hong Minh emphasized.

In the coming time, the Ministry of Construction will continue to work with localities to review new factors arising after the official operation of the two-level local government model to proactively find solutions or promptly report to competent authorities to take measures to ensure the achievement of the industry's growth targets.

The Ministry of Construction has also set up a hotline, ready to accompany localities during the implementation process, provide technical and professional support, answer and provide timely guidance; in case of necessity, it will assign staff to directly support localities.

In addition, after the merger, the need for intra-provincial travel (especially between old urban centers) will increase, putting great pressure on some existing transport systems that already have relatively high density. Therefore, to ensure traffic safety and meet people's travel needs, the Ministry of Construction recommends that localities pay attention to upgrading, maintaining or expanding existing connecting routes, mobilizing investment capital for expressways connecting provincial administrative centers according to the planning and authority of the province; allocating resources (including maintenance costs) to carry out management, operation, exploitation and maintenance on decentralized national highways...

To ensure the disbursement target of the Public Investment Plan and the completion of the target of 3,000 km of expressway by the end of 2025, the Ministry of Construction recommends that the Prime Minister direct localities to urgently complete the remaining site clearance work to ensure construction sites for expressway projects. Localities assigned to implement projects managed by the Ministry of Construction need the participation of the entire local political system to focus resolutely and completely resolve difficulties and obstacles in site clearance work...

To complete the social housing target and promote the real estate market, the Ministry of Construction recommends: The Prime Minister should soon issue a Decision to adjust the target of completing social housing in 2025 and the following years until 20308 to create a basis for localities to supplement the socio-economic development target after implementing the arrangement of provincial administrative units to focus on leadership, direction, promote the role and attach responsibility to the head in improving the quality and efficiency of social housing development work in the locality.

State Bank Governor Nguyen Thi Hong speaks at the Conference - Photo: VGP/Nhat Bac

Credit management solutions in line with economic developments

Speaking at the Conference, Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong said that the SBV agreed with the 2025 growth scenario proposed by the Ministry of Finance.

However, in the context of complicated domestic and foreign macroeconomic developments, inflation in economies around the world has cooled down but has the potential to increase again, international organizations have lowered their global growth forecasts for 2025 compared to the previous forecasts... the management of domestic monetary policy is always proactive, flexible, timely, effective, and synchronously coordinated with fiscal policy and other policies, contributing to strongly promoting economic growth associated with maintaining macroeconomic stability, controlling inflation, and ensuring major balances of the economy.

Specifically, the SBV has operated open market operations flexibly, in line with market developments. Accordingly, the SBV maintains daily bids for valuable papers with appropriate volumes, meeting the capital needs of credit institutions, diversifying and extending the bid terms to support longer-term capital sources for the system, thereby contributing to macroeconomic stability and supporting economic growth.

Continue to maintain operating interest rates at low levels to guide the market to reduce lending interest rates to support businesses and people; at the same time, the State Bank continues to direct credit institutions to reduce operating costs, increase the application of information technology, digital transformation and other solutions to strive to reduce lending interest rates... As a result, lending interest rates continue to decrease; in June 2025, the average lending interest rate for new transactions of commercial banks was 6.3%/year, down 0.6%/year compared to the end of 2024.

Flexible and appropriate exchange rate management contributes to absorbing external shocks. Therefore, the foreign exchange market operates smoothly, the legitimate foreign currency needs of the economy are fully and promptly met...

Regarding the orientation and solutions for monetary policy management in the coming time, the Governor of the State Bank said that he will continue to closely monitor developments and the world and domestic economic situation to proactively, flexibly, promptly and effectively manage monetary policy; manage interest rates and exchange rates in accordance with market developments, macroeconomics, inflation and monetary policy targets; direct credit institutions to reduce costs, stabilize deposit interest rates, and strive to reduce lending interest rates to support businesses and the economy.

In addition, continue to implement credit management solutions in accordance with macroeconomic developments, inflation and the economy's capital absorption capacity to contribute to promoting economic growth.

Giang Oanh - Phuong Lien

Source: https://baochinhphu.vn/thuc-day-nhieu-giai-phap-gop-phan-thuc-hien-muc-tieu-tang-truong-83-85-102250716111833727.htm