Economy

Wednesday, July 16, 2025, 14:34 GMT+7

Vietnamese premier sets ambitious 8.3-8.5% GDP growth target for 2025

Vietnamese Prime Minister Pham Minh Chinh on Wednesday chaired an online conference between the government and local authorities to discuss the nation’s economic growth trajectory, setting a gross domestic product (GDP) growth target of 8.3–8.5 percent for the year.

Vietnamese premier sets ambitious 8.3-8.5% GDP growth target for 2025

Vietnamese Prime Minister Pham Minh Chinh (C) chairs a virtual conference from Hanoi, July 16, 2025. Photo: Vietnam Government Portal

This ambitious goal is part of a broader vision to build strong momentum for achieving double-digit GDP growth during the 2026–30 period.

To meet the target, PM Chinh emphasized the need for comprehensive discussion and alignment on key tasks and priorities.

He urged ministries and local authorities to clearly identify the pillars and drivers of growth.

The government leader also called for a focus on a thorough assessment of the global situation to devise responsive and adaptive solutions.

It is vital to put forward both immediate and long-term strategies for economic restructuring and a shift in the growth model in line with the new context.

He ordered relevant units to remove bottlenecks, mobilize resources, and stimulate the main engines of economic expansion.

Since the start of the year, Vietnam has undertaken several breakthrough and strategic initiatives, including a major governmental restructuring.

The Southeast Asian country is currently drafting resolutions on education, healthcare, and culture.

These strategies were designed to usher Vietnam into a new era, when the nation is marked by prosperity, civility, and rejuvenation, with improved living standards and greater happiness for the people, according to the prime minister.

Vietnamese premier sets ambitious 8.3-8.5% GDP growth target for 2025  - Ảnh 1.

Prime Minister Pham Minh Chinh holds an online meeting with 34 provinces and cities from Hanoi, July 16, 2025. Photo: T. Hai

This long-term vision is being charted against the backdrop of complex and adverse global challenges.

Vietnam has faced numerous headwinds in recent years, from the COVID-19 pandemic to trade tensions, supply chain disruptions, severe natural disasters, and the ongoing impacts of climate change.

Despite these difficulties, Vietnam’s macroeconomic stability has been maintained.

The nation has successfully curbed inflation, ensured key economic balances, safeguarded national sovereignty and territorial integrity, and preserved political and social order.

Moreover, living standards continue to rise year after year.

Vietnam’s GDP expanded 7.52 percent in the first half of this year, the highest for the same period in 2011–25.

Last year, the nation recorded GDP growth at 7.09 percent, driven by strong exports and robust foreign investment inflows.

Tieu Bac - Ngoc An / Tuoi Tre News

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