The Prime Minister emphasized several key points. Despite the challenging global context, where many countries and regions are expected to experience lower economic growth compared to the previous year and the beginning of 2025, Vietnam has set a higher GDP growth target. Aiming for a growth rate of 8% in 2025 and double digits in the following years, Vietnam is moving against the global trend.
To achieve this ambitious goal successfully, the Prime Minister highlighted the need to actively pursue three strategic breakthroughs in institutions, infrastructure, and human resources. Among these, institutional reform is the key to unlocking other areas of development and enhancing Vietnam’s competitiveness. The government is determined to remove institutional bottlenecks by 2025, turning this aspect into a competitive advantage.
Secondly, there is a focus on infrastructure development, particularly in the five modes of transportation. This includes completing at least 3,000 km of expressways and 1,000 km of coastal roads this year, as well as investing in high-speed rail projects and connections with China, ultimately linking Vietnam internationally to Central Asia and Europe. There are also plans to develop urban rail systems and upgrade existing railways.
In terms of inland waterways, the focus is on the Mekong Delta region, which has a natural advantage in this area. For aviation, the goal is to construct, expand, and upgrade strategic airports capable of accommodating the largest aircraft, along with developing an extensive fleet and promoting competition among airlines to benefit the people. Regarding seaports, the plan is to build large ports like Lạch Huyện, Cái Mép-Thị Vải, Cần Giờ, and Hòn Khoai, which can receive large vessels.
Additionally, there will be a simultaneous development of healthcare, education, cultural, sports, and social infrastructure, as well as infrastructure for digital transformation, scientific and technological advancements, and climate change resilience.
Prime Minister: “Special Conditions Call for Special Solutions”
The third strategic breakthrough is in human resources, where the focus shifts from primarily knowledge-based training to comprehensive skill development, aiming to produce internationally competitive talent. This will enhance labor productivity and support Vietnam’s integration efforts.
“While other countries are lowering their growth targets due to challenging conditions, we are boldly going against the grain,” the Prime Minister stated. He emphasized that special conditions call for special solutions, requiring unity and determination from all sectors. He stressed the need for high commitment, concerted efforts, decisive and effective actions, a clear focus, and a long-term vision. By following these principles and ensuring clear roles and responsibilities, Vietnam can achieve its growth targets and realize its centenary goals.
Earlier in April, the Asian Development Bank (ADB) forecast Vietnam’s GDP to grow by 6.6% in 2025 and 6.5% in 2026, following a robust 7.1% expansion in 2024. While global trade tensions may impact Vietnam’s export-oriented manufacturing sector this year, trade growth is expected to slow to around 7% in 2025 and 2026, according to ADB.
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The 76 land lots in Phu Xuyen District, Hanoi, were successfully auctioned, with the highest bid reaching an impressive 62 million VND per square meter. This prime real estate is strategically located near major transportation routes and boasts a well-developed technical infrastructure. Its proximity to the southern development axis of Hanoi promises great potential for future growth and development.
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The transformation of southern Hanoi’s infrastructure is no longer a story of the future; it is happening now. With massive investments pouring into key transportation projects, the real estate market is experiencing a significant boost. Sun Mega City, spanning nearly 1,700 hectares, is at the heart of this metamorphosis, offering exceptional potential for profitability.
Embracing the Learning Curve: Navigating the Complex Landscape of Stalled Projects
This title maintains the essence of the original text while incorporating a more refined and engaging tone. It emphasizes the idea of learning from mistakes and navigating through the challenges of managing stalled projects, conveying a sense of resilience and proactive problem-solving.
“Prime Minister Pham Minh Chinh affirmed that while wrongdoings cannot be legalized, it is necessary to find solutions to handle stalled projects and accept losses as a learning fee.”
The 2024 Budget Revenue Reaches a Record High of Over VND 2 Quadrillion
The Chairman’s statement is a testament to the country’s economic growth and stability. The nation’s budget revenue reflects a thriving economy, with stable macroeconomic conditions that ensure social welfare and improved living standards for its citizens.
