Continuing its 50th session on the morning of October 15, the National Assembly Standing Committee provided feedback on socio-economic reports to be presented at the 10th Session of the National Assembly.
Presenting the government’s report, Deputy Minister of Finance Nguyen Duc Chi stated that socio-economic performance has achieved significant results across most sectors, meeting the general objectives set forth. It is projected to meet or exceed all 15 key targets for 2025.
Deputy Minister of Finance Nguyen Duc Chi.
GDP growth for the first nine months reached 7.85% compared to the same period last year, with an estimated full-year growth of 8%, meeting the targets set by the Central Committee and the National Assembly. This is the highest in the region and among the top globally. 32 out of 34 localities are expected to achieve GRDP growth of 8% or higher in 2025, with 13 localities reaching 10% or more.
The GDP is estimated at approximately $510 billion, ranking 32nd globally and 4th in ASEAN. Per capita GDP is expected to exceed $5,000, elevating the country to upper-middle-income status.
For the 2026 plan, Deputy Minister Nguyen Duc Chi emphasized that the government will prioritize fostering growth while maintaining macroeconomic stability, controlling inflation, and ensuring key economic balances, including public debt and the state budget deficit, within prescribed limits.
“Based on the perspectives, goals, targets, and key solutions outlined in the draft documents for the 14th Party Congress, the Ministry of Finance has proposed 15 key targets. These include a projected GDP growth of 10% for 2026, per capita GDP of $5,400–$5,500, and a consumer price index (CPI) increase of approximately 4.5%…,” said Nguyen Duc Chi.
Request for Government Measures to Reduce Gold Prices
Reviewing this content, Phan Van Mai, Chairman of the Economic and Financial Committee, acknowledged that many targets have surpassed expectations despite unprecedented challenges. This lays a crucial foundation for strengthening confidence, stabilizing the macroeconomy, and creating opportunities for rapid and sustainable development in the future.
However, the reviewing agency noted that macroeconomic stability faces numerous risks. While inflation is under control, prices of essential goods have risen significantly, directly impacting the livelihoods of citizens, particularly low-income groups.
Phan Van Mai also highlighted the complex dynamics of the gold market, which have eroded trust and limited the ability to mobilize medium and long-term capital. Meanwhile, real estate credit has grown rapidly, reaching nearly 17% by the end of July, outpacing overall credit growth.
Speaking at the session, Le Thi Nga, Deputy Chair of the Standing Committee on People’s Aspirations and Supervision, praised the government, the Prime Minister, and cabinet members for their resolute actions and bold policies in flexible and timely economic management over the past year.
Addressing gold and real estate prices, Le Thi Nga criticized inadequate management. At times, domestic gold prices have been nearly $20 million per tael higher than global prices. Rapidly rising real estate prices have also made homeownership increasingly difficult for the poor.
“We urge the government to implement measures to reduce gold and real estate prices,” said Le Thi Nga.
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