The year 2025 is of special significance, a year of acceleration, breakthrough, finishing and also the final year of implementing the 5-year Socio -Economic Development Plan 2021-2025; at the same time, preparing and consolidating the fundamental factors, creating a premise for Vietnam to confidently enter a new era - the era of national prosperity and prosperity. Resolution No. 158/2024/QH15 of the National Assembly on the Socio-Economic Development Plan for 2025 has set a target of economic growth rate of 6.5 - 7% and strives for about 7 - 7.5%.
However, the forecast of the world and regional situation continues to be complicated and unpredictable. Domestically, difficulties, challenges and opportunities are intertwined, but there are more difficulties and challenges. This requires the entire political system to "accelerate and break through", focusing on striving to successfully achieve the socio-economic development goals of 2025 as well as the entire term; at the same time, it is necessary to reorganize the apparatus; successfully organize party congresses at all levels towards the 14th National Congress of the Party. Many "diffuse motivations"
Prime Minister Pham Minh Chinh and Mr. Jensen Huang, Founder and CEO of NVIDIA Corporation (USA) witnessed the signing ceremony of the cooperation agreement between the Vietnamese Government and NVIDIA Corporation on research and development of artificial intelligence. Photo: Duong Giang/VNA
At many recent meetings, Prime Minister Pham Minh Chinh affirmed: Thanks to the drastic participation of the entire political system, the business community and the people, the socio-economic situation in 2024 continues to have a positive recovery trend. Vietnam has achieved and exceeded all 15/15 socio-economic development targets set by the National Assembly. Accordingly, the economy grew by more than 7%, higher than expectations at the beginning of the year. Vietnam is among the few countries with high growth rates in the region and the world and is highly appreciated by international organizations. A series of macroeconomic data are increasingly improving, showing growth momentum with positive developments. According to the Ministry of Industry and Trade, in 2024, the index of industrial production (IIP) will increase by about 8.4%. In the "three-horse" vehicle of investment - export - consumption, exports are estimated to reach 403 billion USD, setting a new historical milestone, surpassing the historical milestone of 371.82 billion USD in 2022. The trade balance of goods is estimated to have a trade surplus of nearly 25 billion USD. Attracting foreign investment (FDI) has also improved, the Government has made decisions to create opportunities, prepare to welcome the new generation of FDI as well as build a development strategy for the semiconductor industry; cooperate with foreign enterprises and partners to achieve the goal of training 50,000 engineers by 2030. The Government and localities are also implementing solutions to ensure stable energy, develop renewable energy, green energy. Vietnam is the destination of many large corporations in the world in many different fields from technology, semiconductors, retail... to renewable energy. Many big names in the technology sector such as Nvidia, Intel, Samsung, Synopsys, Qualcomm, Infineon, Amkor... said they have plans to expand their investment in Vietnam. Notably, in December 2024, Nvidia's Chairman officially signed a cooperation agreement with Vietnam to establish an AI Research and Development Center (R&D) and an AI data center. Nvidia also announced the acquisition of VinBrain - a startup in the field of artificial intelligence of Vingroup Corporation. This is considered a historic turning point, opening up opportunities for Vietnam to become Asia's leading AI R&D center. In addition to Nvidia, Alibaba also revealed plans to build a data center in Vietnam and the giant Google also confirmed the opening of Google Vietnam. However, besides the positives, Vietnam's economy still faces many difficulties and challenges such as: Global supply chains are locally broken, causing strong fluctuations in prices of gasoline, basic goods, and transportation costs; Economic and trade recovery is slow and unstable; global aggregate demand and investment are declining; exchange rates and interest rates are fluctuating unpredictably; natural disasters, climate change, energy and food security, and cyber security are complicated. In addition, an important weakness is that the domestic economic sector has not played a major role in growth, and leading economic localities such as Ho Chi Minh City, Hanoi, Binh Duong, Dong Nai, and Ba Ria - Vung Tau are gradually reducing their GDP proportion. The reason comes from the fact that these localities have reached their maximum development level, while other provinces and cities are gradually rising. Regarding business performance, although there has been a significant improvement compared to 10 years ago, the overall efficiency level has not yet met expectations. Key export industries such as footwear, garments, and electronics, although bringing in large export turnover, have only achieved about 50% efficiency, mainly because businesses still rely on the outsourcing model. In addition, reality also requires solving sudden, unexpected problems, especially developments related to monetary and fiscal policies, in addition to responding to and overcoming natural disasters that have caused serious consequences in many localities such as super typhoon Yagi... "Breakthrough of breakthroughs"
The race towards a green economy has become a top priority for the world, as countries seek sustainable solutions for the backbone sectors of their economies such as heavy industry and transport. Photo: THX/TTXVN
Based on the reality and positive results of 2024, Resolution No. 158/2024/QH15 of the National Assembly on the Socio-Economic Development Plan for 2025 has set a target of economic growth rate of 6.5 - 7% and strives for about 7 - 7.5%. In particular, in Official Dispatch No. 137/CD-TTg dated December 20, 2024, Prime Minister Pham Minh Chinh determined: The specific goal is to strive for the national GDP growth rate in 2025 to reach over 8% (higher than the target assigned by the National Assembly). That will be the premise for Vietnam to move towards a new stage, with the mark of continuous breakthroughs, achieving an even higher growth rate for rapid and sustainable development. To achieve the goal, the head of the Government emphasized: First of all, it is necessary to continue to perfect the institution as the "breakthrough of breakthroughs"; Streamlining the apparatus, improving effectiveness and efficiency according to Resolution No. 18-NQ/TW, dated October 25, 2017, the 6th Conference of the 12th Party Central Committee; building strong enough mechanisms and policies for cadres to dare to think, dare to do, dare to take responsibility for the common interest. Prime Minister Pham Minh Chinh requested to strengthen decentralization and delegation of power associated with resource allocation, inspection and supervision, following the motto "locality decides, locality does, locality takes responsibility"; resolutely cut and simplify administrative procedures, reduce costs for people and businesses; promptly and effectively implement laws and resolutions passed by the 15th National Assembly at the 8th Session so that new regulations can be put into practice as quickly as possible. In addition, continue to renew traditional growth drivers and promote and create breakthroughs for new growth drivers, focusing on implementing solutions to increase labor productivity quickly, highly and sustainably. At the same time, mobilize social resources to the maximum, effectively exploit resources from state-owned enterprises, and strongly develop private enterprises. To create a breakthrough for 2025 and promote the country's economic growth, Minister of Industry and Trade Nguyen Hong Dien said: In addition to providing market information to ensure regular updates on regulations, standards, and conditions of foreign markets, the Ministry of Industry and Trade will focus on improving production capacity, encouraging innovation, and promoting sustainable exports to contribute to the country's economic growth. In addition, the Ministry of Industry and Trade will continue to support businesses to maximize the benefits of signed FTAs; organize training programs, conferences, and advise businesses on rules of origin of goods to take advantage of tariff incentives while helping businesses understand the standards and requirements of the market within the FTA framework to increase sustainable exports. On the other hand, the Ministry coordinates with relevant ministries and sectors to support businesses in building supply chains, ensuring raw material sources meet international standards on safety, environment and sustainable development. Programs connecting businesses with reputable domestic and international suppliers will help optimize production costs and enhance the competitiveness of Vietnamese goods. In order to create and effectively promote development drivers in the new era, Minister of Planning and Investment Nguyen Chi Dung said that it is necessary to create breakthroughs for new growth drivers, attract investment in new fields, high technology such as semiconductors, cloud computing, artificial intelligence, clean energy, green economy, digital economy... "Digital transformation and artificial intelligence will be important growth drivers. The implementation of Resolution No. 52-NQ/TW dated September 27, 2019 of the Politburo on a number of policies and guidelines to proactively participate in the Fourth Industrial Revolution and the upcoming Resolution of the Politburo on carrying out the digital transformation revolution until 2030, with a vision to 2050, creating an important driving force for developing productive forces, perfecting production relations, bringing the country into a new era will create a favorable legal framework for the application of fourth technology, digital transformation contributing to promoting growth "Economic development", Minister Nguyen Chi Dung affirmed. Agreeing with the opinion of Minister Nguyen Chi Dung, economic expert, former General Director of the General Statistics Office Nguyen Bich Lam proposed to promote decentralization, decentralization, eliminate power concentration, create a healthy competitive environment in the state apparatus, not limit the authority of agencies to achieve the highest work efficiency. At the same time, increase national competitiveness based on a stable macroeconomic environment, synchronous infrastructure, and fully develop all types of markets. The country's position and brand are increasingly affirmed in the international arena, helping to consolidate and enhance national soft power. It is forecasted that in 2025, foreign investment capital will continue to shift to Vietnam and the export market will be more open. Prof. Dr. Hoang Van Cuong, Vice President of the National Economics University, assessed: FDI attraction will still be very positive thanks to investors' trust in Vietnam's economic strength. The investment trend of foreign investors has changed, from focusing on cheap labor to science - technology and high technology. Vietnam has also effectively exploited free trade agreements (FTAs) and in the coming time will continue to diversify markets to limit risks when exporting to a few markets as before. Reality also shows that currently, Vietnam's infrastructure is developing rapidly, wherever the highway is opened, the local economy develops there. Enterprises benefit from this because they can invest in raw material areas with cheap land costs. This will be the driving force to help Vietnam achieve double-digit growth in the coming period. In order to promote economic growth in 2025, the Government is focusing on urging, with the participation of the entire system, sectors and localities to remove obstacles, promote disbursement of public investment capital; determined to disburse 95% of the plan. The Government has established a Steering Committee on reviewing and handling difficulties in the system of legal documents, headed by the Prime Minister; established working groups to promptly remove "bottlenecks", difficulties and problems arising from practice.
![[Infographic] In 2025, 47 products will achieve national OCOP](https://vphoto.vietnam.vn/thumb/402x226/vietnam/resource/IMAGE/2025/7/16/5d672398b0744db3ab920e05db8e5b7d)
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