PM urges ministries to push for 10% economic growth, $5,500 per capita GDP in 2026

The directive was issued on Sunday at a conference of the government's Party Committee, chaired by PM Chinh in his capacity as secretary, to review 2025 performance and set priorities for 2026.

According to a report presented at the meeting, the government's Party Committee in 2025 led and coordinated the implementation of multiple critical and unprecedented tasks in a proactive and decisive manner, delivering comprehensive results across a wide range of areas.

Participants at the conference agreed that the Party Committee had adopted a leadership approach described as a 'shift in mindset and turnaround in execution,' helping to enhance overall governance effectiveness.

Determination to meet 2026 targets

Under this leadership, Vietnam met and exceeded all 15 major socio-economic development targets in 2025, with GDP growth reaching 8.02 percent, among the fastest in the region and globally.

The economy expanded to an estimated $514 billion, ranking 32nd worldwide, while per capita GDP rose to about $5,026, placing Vietnam in the upper-middle-income group.

Total import-export turnover reached approximately $930 billion, with a trade surplus of more than $21 billion for the 10th consecutive year.

Disbursed foreign direct investment rose nine percent to a record $27.6 billion in 2025, the highest level in five years, reinforcing Vietnam's position as a leading destination for international capital.

Building on these results, the conference agreed that the government will continue to prioritize accelerating economic growth while maintaining macroeconomic stability, controlling inflation and safeguarding major economic balances.

PM Chinh called on all ministries and local authorities to fully implement the socio-economic development targets for 2026 set by the National Assembly in Resolution No. 244, adopted in November last year.

Key goals include GDP growth of 10 percent or higher, about two percentage points above the 2025 level; per capita GDP of $5,400–5,500, up 7.4–9.4 percent year on year; and an average consumer price index of around 4.5 percent.

Other objectives cover raising the share of processing and manufacturing industries to around 25 percent of GDP, achieving average labor productivity growth of about 8.5 percent, and reducing the share of agricultural workers to approximately 25.3 percent of the total workforce.

Key tasks to be fulfilled

To strengthen leadership capacity and governance effectiveness in pursuing these objectives, PM Chinh stressed the need to build clean and strong Party organizations at all levels and ensure the effective implementation of political tasks.

Priority areas include promoting growth alongside macroeconomic stability, accelerating institutional reforms to remove bottlenecks and unlock resources, and building a streamlined, efficient, and effective administrative apparatus.

The government will also seek to enhance strategic autonomy and renew the development model.

Science and technology, innovation, and digital transformation have been identified as key growth drivers, while efforts will continue to improve productivity, quality, resilience, and competitiveness of the economy.

Other tasks include developing socio-economic infrastructure, making effective use of new development opportunities, and strengthening high-quality human resources.

Cultural and social development will be promoted alongside economic growth, with social welfare and living standards remaining among priorities.

PM Chinh also emphasized the government's responsibility to safeguard national sovereignty, maintain political stability and social order, preserve a peaceful environment for development, strengthen national defense and security, and further promote diplomacy and international integration.