Prime Minister Pham Minh Chinh speaking at the Conference. (Photo: Ministry of Finance)
Speaking at the Conference, Prime Minister Pham Minh Chinh assessed that in 2025, amidst challenges outweighing opportunities, thanks to the decisive efforts of the entire political system, the people, and the business community, under the leadership of the Party, we have achieved significant results.
These include macroeconomic stability, controlled inflation, boosted growth, ensured major economic balances, and social welfare; effectively managing budget deficits, public debt, government debt, and foreign debt in a global context of high inflation and slowed growth.
Emphasizing the financial sector’s crucial contributions to the nation’s achievements, the Prime Minister summarized its results in 8 concise phrases: “Accurate Advising – Streamlined Apparatus – Perfected Institutions – Budget Surplus – Innovative Enterprises – Stable Macroeconomy – Happy People – Developing Nation.”
Accurate Advising: As a strategic advisory body, the Ministry provided timely growth scenarios, contributing to an estimated 8.02% GDP growth in 2025. It advised on key Party resolutions, including private and state economic development, and proposed establishing an international financial center and free trade zones.
Streamlined Apparatus: The Ministry of Finance, Ministry of Planning and Investment, State Capital Management Commission, and Vietnam Social Security were merged, reducing 3,600 units (37%) and 10% of staff compared to 2021, while significantly enhancing efficiency. The system processed 230,000 documents and advanced digital transformation, particularly in budget management.
Perfected Institutions: Administrative reforms, decentralization, and a shift from management to development facilitation eliminated bottlenecks. The Ministry submitted 15 laws and resolutions to the National Assembly, with 11 approved in 2025, and issued hundreds of decrees and circulars. Over 468 online public services were integrated with the National Population Database, simplifying 30% of business conditions. Vietnam’s stock market was upgraded to Secondary Emerging status by FTSE Russell in September 2025, with liquidity rising 42% year-on-year. Legal frameworks for the International Financial Center and a cryptocurrency sandbox positioned Vietnam to align with global financial trends.
Budget Surplus: Revenue collection reached 2.65 quadrillion VND by December 31, 2025, exceeding estimates by 34.74% and increasing 30.3% from 2024. Domestic revenue accounted for 86%, while 251 trillion VND in taxes, fees, and land rents were waived to support citizens and businesses. Expenditures totaled 2.4 quadrillion VND (94.1%), with development investment at 82.7%, expected to reach 100% by late January 2026. Savings of 5.3 trillion VND in the last 7 months funded border schools.
Innovative Enterprises: A record 297,500 new and reactivated businesses joined the market in 2025, up 27.4% from 2024. Private capital accounted for over 70% of 5.14 quadrillion VND invested in 564 major projects. FDI disbursement hit a 15-year high of 27.6 billion USD, with enterprises integrating into global value chains.
Stable Macroeconomy: GDP grew by 8.02%, inflation was capped at 3.3%, exports surpassed 21 billion USD, and trade reached 930 billion USD.
Happy People: Living standards rose, strengthening trust in the Party and State. Vietnam’s happiness index climbed 37 spots to 46th globally. Social welfare spending reached 1.1 quadrillion VND (17% of the budget), eliminating substandard housing early and rebuilding homes in flood-affected areas. Tax deductions were raised to 15.5 million VND/month, easing burdens for millions.
Developing Nation: GDP reached 514 billion USD, with per capita GDP surpassing 5,000 USD to 5,026 USD, entering the upper-middle-income group. Infrastructure projects transformed urban and rural landscapes.
The Prime Minister praised the finance sector’s 80-year legacy as a loyal “custodian,” a sharp “think tank,” and a “development driver,” propelling the nation forward.
He also highlighted challenges in public investment, land clearance, enterprise development, macroeconomic policy coordination, surplus office utilization, and cryptocurrency market development.
Concluding, the Prime Minister stressed lessons in unity, policy responsiveness, and harmonized coordination with monetary and other policies.
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