Investments

Vietnam Sets New Record in GDP Growth

This marks Vietnam's highest quarterly GDP growth in over a decade.

6 October, 2025

Prime Minister addressing the Conference. Photo: VGP

This information was presented by the Minister of Finance at the Government’s Online Conference with Localities in September 2025, held on the morning of October 5.

At the conference, the Minister of Finance reported that the socio-economic situation over the past nine months has remained positive, achieving significant, comprehensive, and notable results.

Specifically, Vietnam’s Q3 GDP is estimated to grow by 8.22%. The Ministry of Finance emphasized that, excluding the recovery growth in 2022 due to the COVID-19 pandemic, this is the highest growth rate for the same period since 2011. The value added by the agriculture, forestry, and fisheries sector increased by 3.74%; the industrial and construction sector by 9.46%; and the service sector by 8.54%. The GDP growth for the first nine months reached 7.84% compared to the same period last year, with growth in the three sectors at 3.83%, 8.69%, and 8.48%, respectively.

The Minister of Finance stated that economic growth closely aligns with the annual target of 8% when implementing the set solutions comprehensively.

Minister of Finance reporting at the Conference. Photo: VGP

Not only has GDP growth been high, but over the past nine months, production, business activities, and growth drivers have continued to be promoted and renewed, maintaining a positive growth momentum. Additionally, agricultural and service growth has remained strong despite being heavily affected by natural disasters, storms, and floods, particularly in September and Q3. The mining industry in Q3 showed signs of recovery, growing by 9.8%; the manufacturing and processing sector continued to lead growth, with Q3 increasing by approximately 10% and nine months by 9.92%, meeting the target (9.9%).

Furthermore, according to the Ministry of Finance’s report, the September CPI increased by 3.38% year-on-year, and nine months by 3.27%. The government continues to effectively manage supply and prices in areas affected by natural disasters. Notably, over the past nine months, credit growth has been high, and the new lending interest rate has continued its downward trend. Meanwhile, the stock and corporate bond markets remain vibrant.

State budget revenue in nine months reached 1.92 million billion VND, equal to 97.9% of the estimate, up 30.5% year-on-year.

In September, the number of newly registered and reactivated enterprises reached 27,500, up 55.6% year-on-year; nine months saw over 231,300 enterprises, up 26.4%. The total additional capital of active enterprises was 3.3 million billion VND, up 186.5%.

Vietnam’s Economy Still Faces Challenges

Despite achieving many positive results in the first nine months of this year, the Minister acknowledged that the country’s economy still faces challenges, with significant external pressures and new growth drivers needing time to take effect. Meanwhile, institutional and legal improvements have not kept pace with development requirements; natural disasters have occurred frequently and widely, causing severe damage in many localities, with complex developments expected in the final months of the year.

Therefore, the Ministry of Finance proposed that agencies carefully prepare draft laws and resolutions for the 10th Session of the National Assembly, effectively absorb feedback, build consensus, and organize implementation immediately after National Assembly approval.

Additionally, ministries, sectors, and localities need to boost exports, develop sustainable trade; continue improving institutions, laws, and administrative procedures; promote investment, stimulate consumption, and develop new growth drivers, science and technology, innovation, and digital transformation.

Vietnam Aims for 8.3 – 8.5% GDP Growth

Prime Minister chairing the Conference. Photo: VGP

At the conference, the Prime Minister stated that Vietnam has completed three-quarters of 2025 amidst a global context of continued difficulties, challenges, and increasing risks, with prolonged conflicts and instability in some regions, including ASEAN. Furthermore, strategic competition, trade tensions, and declining global economic growth persist; international financial and monetary markets are volatile, posing many risks; public debt in many countries is rising; and global gold prices have surged to new records.

In this challenging context, the socio-economic situation has generally improved month-on-month and quarter-on-quarter, with the first nine months of 2025 performing better than the same period in 2024. Macroeconomic stability has been maintained, inflation controlled, major balances ensured, and growth strongly promoted.

However, the Prime Minister emphasized that we must frankly acknowledge remaining limitations, difficulties, and challenges, notably significant external impacts, shrinking traditional markets, macroeconomic management pressures, underperforming traditional growth drivers, and new drivers needing time to prove effective. The two-tier local government model also faces challenges, and consecutive major storms and prolonged heavy rains have caused severe damage.

At the conference, the Prime Minister asked delegates to focus on analyzing new contexts, developments, and their impacts on Vietnam. He requested discussions to clearly identify key tasks and solutions to strive for 8.3 – 8.5% GDP growth, alongside macroeconomic stability, inflation control, and major balance assurance.