Online conference between the Government and localities to give opinions on the 2025 economic growth scenario - Photo: VGP/Nhat Bac
At the Conference, Prime Minister Pham Minh Chinh said that the Government gave a specific figure that the whole country needs to achieve a growth rate of about 8.3-8.5% in 2025, in order to create momentum, create force, create spirit, and create a solid foundation to achieve double-digit growth in the 2026-2030 period, thereby achieving the two 100-year development strategy goals.
Local leaders unanimously agreed on a growth figure of around 8.3-8.5% for 2025, and have practical solutions to achieve this goal.
Prioritize the application of science and technology to create breakthroughs
Reporting at the Conference, Chairman of the Hanoi People's Committee Nguyen Sy Thanh said that the city's gross regional domestic product (GRDP) in the first 6 months of the year achieved a growth rate of 7.63%, higher than the same period in 2024 (6.13%) and exceeding the set scenario (7.59%). Economic growth in the first quarter increased by 7.56%, the second quarter increased by 7.69%, the third quarter is forecast to reach 8.18% and the fourth quarter will reach 8.53%.
Constituting the city's growth, the total state budget revenue in the area in the first 6 months of 2025 is 392.2 trillion VND, reaching 77.6% of the estimate, up 51.4% over the same period in 2024. The city's budget revenue accounts for about 29.4% of the country's total revenue (1,332.3 trillion VND).
With this result, the City Chairman assessed that Hanoi's economic growth is guaranteed to meet the 8% target for the whole year.
Chairman Nguyen Sy Thanh said, with the advantage that Hanoi has a lot of potential to develop the semiconductor industry and is also a locality that prioritizes the development of the semiconductor and artificial intelligence industry, so this September, Hanoi will start construction of a high-tech biological park in Bac Tu Liem district. This high-tech park has the function of carrying out high-tech activities in line with the trend of high-tech development in the world and the policy and orientation of high-tech development in Vietnam.
In addition, Hanoi will attract strategic investors to the Lang - Hoa Lac High-Tech Park. This is an important step to concretize the development orientation of the country's first High-Tech Park, with the goal of becoming a modern science and technology urban area with a complete and synchronous innovation ecosystem.
Regarding transport infrastructure, the City is determined to construct Ring Road 4 - a key transport project of the Capital region. The project is expected to help reduce traffic congestion, connect regions and promote economic development... At the same time, focus on mobilizing all resources to develop strategic airport infrastructure and connect Gia Binh airport with the Capital...
Regarding consumption and export, Hanoi strives to increase total retail sales of goods and consumer service revenue in the capital by 14% in the last 6 months of 2025. At the same time, the City will continue to make efforts to attract FDI capital and disburse public investment capital according to the set plan...
Promoting service growth chain and new growth drivers
According to the report of the Ho Chi Minh City People's Committee, the total retail sales of goods and consumer service revenue in the first 6 months of the year in the city is estimated at 654,279 billion VND, an increase of 15.8% over the same period.
The city's import and export activities also maintained positive growth momentum. Export turnover is estimated at 31.6 billion USD, up 13.3% (same period increased by 13.1%), import turnover is estimated at 24.9 billion USD, up 13.2% compared to 2024 (same period increased by 4.6%).
In the credit - banking sector, by the end of June 2025, the total capital mobilization of credit institutions in the area is estimated to reach more than 4.26 million billion VND, an increase of 4.5% compared to the end of 2024 and an increase of 16.63% over the same period last year.
The Industrial Production Index (IIP) in the first 6 months of 2025 in the city is estimated to increase by 8.6% over the same period (in the same period it increased by 5.6%); in which 4 key industrial groups are estimated to increase by 8.75% (in the same period it increased by 5.0%). Industrial production still maintains a stable growth rate, showing the recovery and sustainable development of the city's industry.
In particular, total social investment capital in the first 6 months of the year is estimated at nearly 180 trillion VND, up 10.3% over the same period, reaching 18.9% of GRDP...
Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc said that with the above results, the City is completely confident that together with the whole country, it will successfully achieve the economic growth target of 8.3% to 8.5%, striving to reach the highest level of 8.5% for the whole country.
"To achieve this goal, the City has achieved a cumulative growth of 9.04% since the beginning of the year; of which, the third quarter reached 9.01% and the fourth quarter is expected to reach 9.84%," said the City Chairman.
To achieve the above goal, according to Chairman Nguyen Van Duoc, Ho Chi Minh City will focus on a number of key solutions:
First, the City will actively promote public investment and reform administrative procedures.
"A strong national economy will help speed up construction progress and reform public investment procedures, contributing to achieving growth as planned at 8.5%," said the City Chairman.
Second, continue to promote traditional driving forces, focusing on trade and services and stimulating consumption. In this solution, the City will implement a plan to promote the service growth chain, associated with major national events, and at the same time, implement a project to improve and develop urban aesthetics. This project will be implemented immediately after the Prime Minister approves it.
Third is to support businesses in exporting. This is a traditional motivation to support businesses in industries facing difficulties in Ho Chi Minh City in boosting exports, especially to the US market in the coming time. Currently, the City is further promoting support for these businesses.
Fourth is to promote new growth drivers. Including developing Ho Chi Minh City into an international financial center. Currently, the City has directed the Department of Agriculture and Environment and the Department of Finance to approve the preparation of documents approving investors for the conversion of functions or the development of modern port areas. This is in accordance with the direction of the Prime Minister about a month ago.
The fifth is to continue to remove obstacles for projects. The relevant agencies will remove obstacles to clear the investment source of about 400 trillion VND for projects under the authority of Ho Chi Minh City.
Improve infrastructure, attract strategic investment
Together with other localities, Da Nang City also strives to achieve the common growth target with the whole country according to the Scenario set by the Government.
The City's leaders said that the growth target of Da Nang City this year is 9%. Accordingly, Da Nang expects the service sector (the City's strength) to grow by 10-10.5% for the whole year; the construction industry sector is expected to grow by 13-13.5%...
Accordingly, the City will focus on a number of tasks.
Firstly, effectively implement the instructions and orientations of General Secretary To Lam and Prime Minister Pham Minh Chinh in working sessions with Da Nang city and Quang Nam province (old).
Second, effectively implement solutions and projects on science and technology, innovation, and especially projects on building data centers, information technology infrastructure, and digital infrastructure to serve work related to science and technology and innovation in the city.
Third, early implementation of many plans to put the Da Nang Free Trade Zone into operation, creating new momentum for the city's development. Currently, the City has proactively reviewed and developed a specific action plan. This includes key tasks such as completing infrastructure, attracting strategic investment, developing reasonable marine space and proposing outstanding policy mechanisms to competent authorities.
Along with the Free Trade Zone, Da Nang is also accelerating the construction and operation of the Financial Center. The Da Nang Financial Center will focus on specialized areas such as green finance, trade finance serving small and medium enterprises, innovative enterprises, cross-border trade activities, etc.
Giang Oanh
Source: https://baochinhphu.vn/uu-tien-khcn-thu-hut-dau-tu-chien-luoc-de-dat-muc-tieu-tang-truong-102250716170522794.htm
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