Minister of Finance Nguyen Van Thang stated that Vietnam’s socio-economic situation continues to achieve significant and comprehensive results – Photo: VGP/Nhat Bac
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Significant and Comprehensive Achievements
In October, Standard Chartered Bank raised Vietnam’s 2025 growth forecast to 7.5% (up from 6.1% in July), and 7.2% for 2026; HSBC increased it to 7.9% (from 6.6%), and 6.7% for 2026; UOB Bank raised it to 7.5% (from 6.9%); and ADB increased it to 6.7%.
According to Minister Nguyen Van Thang, since the beginning of the year, Vietnam has steadfastly and resolutely completed a substantial and complex workload, promptly addressing emerging issues. This has maintained macroeconomic stability, controlled inflation, ensured major economic balances, and boosted production and business activities. The consumer price index (CPI) for the first 10 months increased by 3.27% year-on-year. Credit growth is higher than the same period last year. State budget revenue for the first 10 months is estimated at over 2.18 million billion VND, reaching 111% of the estimate and increasing by 30.8% year-on-year, with a sustainable revenue structure. Energy security, food security, and the supply-demand balance of essential goods remain stable, while budget deficits and public debt are well-managed.
Traditional growth drivers continue to be promoted and renewed. Total registered FDI in the first 10 months reached over 31.5 billion USD, up 15.6% year-on-year. The trade surplus reached nearly 19.5 billion USD. Total retail sales and consumer service revenue increased by 9.3% year-on-year, with international visitors reaching nearly 17.2 million, up 21.5%. Production and business activities show positive growth.
Notably, the innovation of development models, implementation of three strategic breakthroughs, and resolutions of the Politburo have yielded outstanding results. New growth drivers, such as science and technology, innovation, and digital transformation, have made significant progress. Cultural, social, and environmental protection efforts remain a focus. National defense, security, and social order are maintained. International integration and diplomacy continue to shine, with the successful hosting of the Signing Ceremony and High-Level Conference on the UN Cybercrime Convention, attended by over 110 countries. Vietnam has elevated comprehensive strategic partnerships with all five permanent members of the UN Security Council.
However, Minister Thang highlighted that the 2025 growth targets face challenges. Macroeconomic stability is under external pressure. Institutional and legal improvements, though prioritized, still face obstacles and lag behind development needs. Natural disasters and floods have caused severe damage in many localities and are expected to continue in the final months of the year.
Eight Key Tasks for the Final Two Months
Emphasizing the substantial workload for the final two months, Minister Nguyen Van Thang proposed key solutions and tasks for ministries, agencies, and localities to proactively and decisively implement.
First, maintain macroeconomic stability, control inflation, and ensure major economic balances.
Second, regarding institutional and legal improvements, the Ministry of Justice will continue to address legal obstacles and submit a comprehensive report on administrative procedure reduction and simplification to the Prime Minister by November 15, 2025.
The Ministry of Finance will finalize the State Economic Development Plan and urgently submit the Foreign Investment Development Plan to the Politburo in November 2025. They will also study the reduction and simplification of investment registration procedures, implement online processes, shorten market entry times, relax investment restriction lists, and report to the Prime Minister on issues beyond their authority, completing these tasks by December 2025.
Ministries, agencies, and localities will ensure the National Public Service Portal operates as a “single window,” requiring citizens and businesses to provide information only once. They will reduce and simplify administrative procedures and business conditions as approved, achieving 100% of administrative procedures independent of provincial boundaries by 2025.
Third, the Ministry of Agriculture and Rural Development, along with relevant agencies, will focus on post-disaster recovery, providing effective support to stabilize and restore production and business activities. They will enhance disaster forecasting and timely information dissemination to ensure the safety of dikes, dams, and proactive evacuation of residents from high-risk areas.
Fourth, continue to promote investment, stimulate consumption, and unlock domestic investment resources while developing new growth drivers, such as science, technology, innovation, and digital transformation.
Fifth, boost exports and develop sustainable trade.
Sixth, regarding cultural and social development, the Ministry of Culture, Sports, and Tourism will draft a plan to establish business ethics and cultural standards, blending national identity with global best practices. They will develop the cultural and entertainment industries and ensure the effective implementation of the National Cultural Development Program.
The Ministries of Education and Health will effectively implement Politburo resolutions and government action plans for education, healthcare, and public health. They will prepare for the groundbreaking ceremony of primary and lower secondary boarding schools in border communes on November 9, 2025.
Seventh, decisively implement the two-tier local government model, refine related institutions, and complete the review and adjustment of decentralization regulations. Clarify local government responsibilities and finalize plans for state-owned enterprise and public service unit restructuring.
Eighth, enhance communication and public engagement to build social consensus. Prepare for the 11th National Emulation Congress, honoring outstanding individuals and organizations. Continue striving to complete 2025 and 2020-2025 term tasks, achieving practical results in celebration of the 14th Party Congress.
– 09:25 08/11/2025
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On the morning of November 8th, during the regular Government meeting for October 2025, Minister of Finance Nguyen Van Thang reported that Vietnam’s socio-economic landscape continues to achieve significant, comprehensive results. Notably, the state budget revenue for the first 10 months is estimated at over 2.18 million billion VND, reaching 111% of the target and marking a 30.8% increase compared to the same period last year.
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