Achieving and Surpassing 15 Key Targets by 2025
Deputy Minister of Finance Nguyen Duc Chi delivers a report at the meeting
|
Reporting on the implementation of the 2025 socio-economic development plan, Deputy Minister of Finance Nguyen Duc Chi stated that the socio-economic situation continues to achieve significant and comprehensive results across most sectors. It is expected to meet and exceed 15 out of 15 key targets for 2025, with several notable achievements:
Macroeconomic stability remains strong, with high economic growth, controlled inflation, and balanced accounts. The nation’s GDP growth for the year is estimated at 8%, with inflation at around 4%. Per capita GDP is expected to reach over $5,000, elevating the country to upper-middle-income status.
A decisive restructuring of the government apparatus and the implementation of a two-tier local administration model, coupled with decentralization and empowerment, are transforming the administrative system into one that fosters development and serves the people.
Significant progress has been made in legal and institutional reforms, particularly in legislative thinking, removing bottlenecks, and unlocking resources for development. This has led to tangible improvements in the business investment environment. Efforts to combat corruption, waste, and negativity continue to yield positive results.
Strategic infrastructure development has achieved remarkable outcomes, opening new avenues for growth. The targets of completing 3,000 km of highways and 1,700 km of coastal roads have been met and exceeded.
Economic restructuring, coupled with innovation in the growth model, is being vigorously pursued. Weak banks, delayed projects, and underperforming enterprises are being effectively addressed.
In the realm of science, technology, innovation, and digital transformation, significant progress has been made. The Global Innovation Index for 2025 ranks the country 44th out of 139 nations, placing it third in ASEAN.
Cultural and social development has seen notable advancements, with social welfare guaranteed and living standards continuing to improve.
High-quality human resource development, education, and healthcare have achieved positive results.
Regarding the implementation of the 2021-2025 socio-economic development plan, Deputy Minister Nguyen Duc Chi emphasized that the period is expected to meet and exceed 22 out of 26 key targets, including all social targets. “While macroeconomic stability is largely maintained, significant challenges remain. Production and business in certain sectors face difficulties. The quality of human resources does not yet meet requirements. Some key industries are developing slowly. Restructuring and streamlining of the administrative apparatus have encountered challenges in some areas. The livelihoods of certain populations, particularly in remote, ethnic minority, border, and island regions, remain difficult. Air pollution in major cities has not been effectively addressed. Extreme weather events and natural disasters are becoming more frequent. Security and order in some areas and sectors remain complex,” noted Deputy Minister Chi.
Regarding the 2026 socio-economic development plan, Deputy Minister Chi stated that the government has set 15 key targets for 2026, including a GDP growth target of 10% or higher and an average inflation rate of around 4.5%. Eleven key task groups and solutions have been identified: promoting growth while maintaining macroeconomic stability, controlling inflation, and ensuring major balances; improving legal and institutional frameworks, with a focus on investment, business, and administrative organization; restructuring the economy and advancing industrialization and modernization; ensuring progress on strategic infrastructure projects; developing high-quality human resources; enhancing science, technology, innovation, and digital transformation; comprehensively developing cultural and social sectors, improving living standards, and ensuring social welfare; managing natural resources, protecting the environment, and addressing climate change; strengthening national defense and security; fostering international integration and diplomacy; and enhancing information and communication efforts.
Chairman of the Economic and Financial Committee Phan Van Mai presents the review report
|
Presenting the review report, Chairman Phan Van Mai of the Economic and Financial Committee praised the government’s bold policies, proactive spirit, and flexible management, which have led to positive outcomes and exceeded expectations in a challenging context. These achievements have strengthened confidence, stabilized the macroeconomy, and created favorable conditions for rapid and sustainable development in the future.
The Committee also urged the government to closely examine issues such as growth targets facing significant pressure, limited growth quality, risks to macroeconomic stability, slow economic restructuring, challenges for domestic businesses, particularly SMEs, and delays in legal and institutional reforms. “To achieve the 2025 targets and complete the 2021-2025 phase, it is essential to maintain macroeconomic stability, implement tight monetary policies, expand targeted fiscal measures, and accelerate institutional reforms. Traditional growth drivers must be enhanced, and new growth engines developed to ensure sustainable development for 2026-2030,” proposed Chairman Mai.
Regarding the 2026 socio-economic development plan, the Committee agreed with the government’s broad directions, general objectives, key targets, and 11 task groups. It emphasized the need to maintain macroeconomic stability, manage fiscal and monetary policies tightly, diversify budget revenues, reduce reliance on land-related income, and improve public investment efficiency. The focus should be on transforming the growth model, restructuring the economy, and identifying key growth areas. New drivers such as digital transformation, green energy, innovation, and high-tech industries should be prioritized, along with empowering the private sector as a true growth engine. Significant improvements in law enforcement, the business environment, and high-quality human resource development are essential to build a strong foundation for rapid and sustainable growth.
– 11:50 15/10/2025
Deputy Prime Minister Hồ Đức Phớc: “Cashless Payments Are an Irreversible Trend”
Speaking at the “One Touch – A World of Trust” Wave Festival on October 18th, Deputy Prime Minister Ho Duc Phoc emphasized that cashless payments are an inevitable trend of the times, an irreversible step in the journey towards building a modern, safe, and digital green economy.
UAE Conglomerate to Invest $2 Billion in AI Data Center Development in Ho Chi Minh City
The Director of the Department of Science and Technology of Ho Chi Minh City, Lam Dinh Thang, revealed that the city’s government is actively transitioning to a data-driven governance model, leveraging multiple digital platforms to achieve this transformation.
Secretary-General: Rejecting ‘Term-Based Thinking’ and ‘Clinging to Local Interests’
Emphasizing the rejection of ‘term-limited thinking,’ ‘clinging to parochial interests,’ and the lack of courage to think, act, or innovate, General Secretary Tô Lâm stated: “Those who fall into these conditions without rectifying them must be promptly replaced.”
Government Sets Ambitious 10% GDP Growth Target for 2026
The government has set an ambitious target for 2026, aiming for a 10% GDP growth rate, with per capita GDP projected to reach between $5,400 and $5,500.
EXIMBANK Shines with Two Prestigious Awards at APEA 2025
On October 9, 2025, Eximbank was honored at the Asia Pacific Enterprise Awards (APEA) 2025 with two prestigious accolades: the Corporate Excellence Award and the Fast Enterprise Award.
