During the regular November 2025 Government meeting held on December 6th, Minister of Finance Nguyen Van Thang reported that November saw continued global complexities, including trade tensions, geopolitical instability in the region, volatile financial and commodity markets, and severe natural disasters such as historic floods in Thailand, Indonesia, the Philippines, and South Asia, causing significant damage.
Domestically, natural disasters and flooding have been unusually severe and unpredictable, particularly since the third quarter. The rare occurrence of consecutive storms and floods has led to record-breaking inundation, severely impacting citizens’ livelihoods and the socio-economic development of both local areas and the nation as a whole.
Despite the dual challenges from external factors and natural disasters, the Minister noted that the economy has achieved remarkable, comprehensive results recognized globally.
An estimated 20 out of 34 localities achieved GRDP growth rates of 8% or higher in 2025
According to the Ministry of Finance’s report, amidst significant difficulties, macroeconomic stability has been maintained, inflation controlled, and major economic balances ensured, while production and business activities have been promoted. The consumer price index (CPI) for the first 11 months increased by approximately 3.29% year-on-year. State budget revenue for the same period reached nearly VND 2.4 trillion, 121.9% of the estimate and up 30.9% year-on-year, with a more sustainable revenue structure. Budget deficits and public debt remain well-managed. Energy and food security have been maintained.
Notably, growth drivers continue to be strengthened and renewed. Total registered FDI for 11 months reached nearly USD 33.7 billion, up 7.4% year-on-year, with realized FDI at USD 23.6 billion, up 8.9%. Total import-export turnover for 11 months reached nearly USD 840 billion, up 17.2%, with a trade surplus of USD 20.53 billion. Total retail sales and consumer service revenue increased by 9.1%, while international visitor arrivals reached 19.15 million, up 20.9%.
Industrial production also grew positively, with the November industrial production index (IIP) up 2.3% month-on-month and 10.8% year-on-year. For the first 11 months, IIP increased by 9.3%.
Among localities, an estimated 20 out of 34 achieved GRDP growth rates of 8% or higher in 2025. Six localities recorded double-digit growth: Quang Ninh, Hai Phong, Ninh Binh, Phu Tho, Bac Ninh, and Quang Ngai.
Natural disasters reduced the Q4 GRDP growth rate of some localities by approximately 0.2-0.3% in 2025
Despite these achievements, Minister Nguyen Van Thang highlighted ongoing challenges. The 2025 growth target remains challenging, with limited time left in the year. Key growth drivers such as investment, consumption, and exports face continued risks from external markets, U.S. trade policies, and domestic economic issues.
Public investment disbursement for 11 months reached only 60.6% of the plan, with several key projects delayed due to landslides, prolonged rainfall, and flooding. Private investment has fallen short of expectations, and efforts to attract large-scale FDI projects face obstacles.
Preliminary estimates indicate that natural disasters reduced the Q4 GRDP growth rate of Hue, Dak Lak, Gia Lai, and Khanh Hoa by approximately 1%, lowering their annual growth by 0.2-0.3% and reducing national GDP growth in Q4 by about 0.1%.
Additionally, while macroeconomic stability is maintained, it faces significant pressures. Institutional and legal reforms, though prioritized, have not kept pace with development needs. Natural disasters in the final month of the year remain unpredictable. Year-end issues such as smuggling, trade fraud, and counterfeit goods persist, while air pollution in major cities requires continued attention.
Finance Ministry: 20 Out of 34 Localities Projected to Achieve GRDP Growth Rates of 8% or Higher
Minister Nguyễn Văn Thắng forecasts that 20 out of 34 localities will achieve a GRDP growth rate of 8% or higher by 2025, with 6 of these localities expected to experience double-digit growth.
“Economic Boom: 28 Out of 34 Provinces and Cities Achieve 8% GRDP Growth or Higher”
Alongside maintaining economic stability and fostering growth, the Prime Minister has called for focused efforts to address the aftermath of storms and floods, ensuring social welfare and security.
State Budget Revenue Reaches Nearly VND 2.4 Quadrillion in 11 Months
At the November regular government meeting held on the morning of December 6th, Minister of Finance Nguyễn Văn Thắng reported that the state budget revenue for the first 11 months of this year is estimated to reach nearly 2.4 trillion VND, equivalent to 121.9% of the plan and a 30.9% increase compared to the same period last year.
Cần Giờ Oversupply Drives Down Ho Chi Minh City’s Low-Rise Segment to an Average of 190 Million VND/m², Just 30% of Market Value
According to CBRE, billionaire Pham Nhat Vuong’s Vinhomes Can Gio project is priced at just 30-50% of the average primary market rate.
Prime Minister: Ensuring ‘Everyone Has a Home, Every Family Celebrates Tết’
In his concluding remarks at the November regular government meeting, Prime Minister Phạm Minh Chính emphasized the urgent need to focus all efforts on addressing the aftermath of storms and floods. He directed leaders to oversee the repair of 34,352 damaged homes and the construction of 1,628 new homes for affected families. The Prime Minister set clear deadlines: all repairs must be completed by December 31, 2025, and new constructions by January 31, 2026. His vision is clear: “Everyone must have a home, every family must celebrate Tết, every child must experience joy, and no one should be left behind.”
