KEY SOLUTIONS MAPPED OUT TO BOOST ECONOMIC GROWTH

The industrial and construction sector is targeted to grow by over 9.5% in 2025 - PHOTO: VNA

HCMC – The Government has issued Resolution 154/NQ-CP on May 31, setting out 12 key tasks and measures to implement the 2025 socio-economic development plan and state budget targets, aiming for GDP growth of 8% or higher.

Institutional reform has been designated the “breakthrough of breakthroughs,” with a focus on improving law enforcement, streamlining administrative procedures, removing bottlenecks, and facilitating conditions for citizens and businesses.

The Government also plans to develop policies to mobilize and efficiently allocate resources to drive growth.

The top priority is to drive economic growth alongside maintaining macroeconomic stability, controlling inflation, ensuring key economic balances, and sustaining a high surplus.

It also seeks to complete administrative restructuring, promote decentralization, strengthen leadership accountability, step up anti-corruption efforts, tighten power oversight, and improve enforcement capacity.

Strategic infrastructure will see continued investment, focusing on expressways, high-speed rail, interregional projects, urban infrastructure, and digital transformation.

The Government plans to restructure industries, reform the growth model, apply new technologies, and enhance productivity, competitiveness, and economic resilience.

It will prioritize high-quality workforce development, research, technology, innovation, startups, and the semiconductor industry. Cultural and social progress will be aligned with economic growth, with efforts to ensure social welfare and improve living standards.

Environmental protection, climate action, and disaster risk reduction will be strengthened. Regional connectivity, integrated planning, and urban economic development will be accelerated. National defense and security will be further consolidated, backed by public support and social order.

The Government has called for the coordinated implementation of foreign policy to maintain a peaceful environment, attract development resources, and elevate Vietnam’s international standing. It also stressed the need for proactive public communication to build consensus and foster innovation across society.

By the end of 2025, Vietnam aims to cut administrative processing times and compliance costs by at least 30%, and eliminate at least 30% of unnecessary business conditions. All provincial-level administrative procedures are expected to be conducted online, without geographical restrictions within provinces.

Source: The Saigon Times