VIETNAM LOOKS TO 8.3-8.5% ECONOMIC GROWTH IN 2025

Prime Minister Pham Minh Chinh speaks at the conference - PHOTO: VNA

HCMC – The Government has set an ambitious target for Vietnam to achieve a growth rate of 8.3-8.5% this year, aiming to build strong momentum and lay a solid foundation for reaching double-digit growth between 2026 and 2030.

Today morning (July 16), Prime Minister Pham Minh Chinh chaired an online Government conference with local authorities to discuss economic growth scenarios for 2025 and the key tasks and solutions needed to achieve the growth target.

He said that the economy achieved a growth rate of 7.52% in the first half of the year, thanks to the concerted efforts of the entire political system, the people, and businesses.

Macroeconomic stability has been maintained, inflation kept under control, growth promoted, and major economic balances ensured. National independence, sovereignty, unity, and territorial integrity have been upheld, along with political stability and social order and safety.

At the conference, the Government set a clear target of achieving 8.3-8.5% economic growth in 2025, aiming to build momentum, generate motivation, and lay a solid foundation for reaching double-digit growth between 2026 and 2030.

This trajectory is seen as essential for fulfilling the country’s two strategic development goals tied to its centennial milestones.

The PM acknowledged that significant challenges remain, particularly internal economic difficulties that are expected to persist through the end of the year.

In light of this, he emphasized the need for a comprehensive assessment and in-depth analysis of economic restructuring strategies, transformation of the growth model, and identification of the most effective structure and approach moving forward.

To meet the ambitious growth targets, the Government stressed the importance of revitalizing traditional growth drivers such as consumption, exports, and investment. At the same time, it aims to promote new engines of growth, including green growth, the circular economy, and the digital economy.

Source: The Saigon Times