Proposed GDP growth target for 2025 from 6.5

The Government proposed GDP growth in 2025 from 6.5-7% and strive to achieve a growth rate higher than 7-7.5% so that by the end of 2025, Vietnam will rank 31-33rd in the world in terms of GDP scale.

On September 30, in Ho Chi Minh City, the National Assembly's Economic Committee held a plenary session to review the Report on the assessment of the implementation results of the 2024 Socio-Economic Development Plan and the draft Socio-Economic Development Plan for 2025.

Authorized by the Prime Minister, Deputy Minister of Planning and Investment Tran Quoc Phuong reported on the Socio-Economic Development Plan for 2025.

Deputy Minister Tran Quoc Phuong said that in the 2025 socio-economic development plan, the Government has set out 15 main targets in the economic, social and environmental fields.

In which, GDP growth is about 6.5-7% and strives to achieve a growth rate higher than 7-7.5% so that by the end of 2025, Vietnam will rank 31-33 in the world in terms of GDP scale; GDP per capita will reach about 4,980-5,000 USD; the proportion of processing and manufacturing industry in GDP will reach about 24.1%; the average consumer price index (CPI) growth rate will be about 4.5%; the average social labor productivity growth rate will be 5.3-5.78%...

Mr. Vu Hong Thanh, Chairman of the National Assembly's Economic Committee, spoke at the meeting. Photo: Le Quan

To achieve this goal, the Government has proposed 12 main solutions such as: prioritizing growth promotion on the basis of maintaining macroeconomic stability and controlling inflation; removing difficulties and legal obstacles to perfect the legal system; promoting economic restructuring associated with growth model innovation...

Other solutions include continuing to focus on investing in synchronous strategic infrastructure; promoting human resource development; promoting regional linkage development...

“The year 2025 is of special importance, being the final year of implementing the 5-year plan, the year to focus on organizing Party Congresses at all levels, moving towards the National Party Congress and must consolidate and prepare well the fundamental factors to promote growth and socio-economic development in the 2026-2030 period. Therefore, 2025 is the year of acceleration, breakthrough, taking development for stability, striving to achieve the highest results in the goals and targets of the 5-year socio-economic development plan 2021-2025”, Deputy Minister Tran Quoc Phuong emphasized.

According to the assessment of Deputy Minister Tran Quoc Phuong, with the results achieved from 2021 to present and the expected socio-economic development plan for 2025, most of the main targets for the 2021 - 2025 period set by the 13th National Party Congress will be achieved and exceeded.

At the same time, many other important targets and tasks were completed, especially public debt, government debt, foreign debt of the country, and state budget deficit much lower than the allowed range.

In particular, more than 3,000 km of expressways were put into use, exceeding the set target; energy security was firmly ensured, power source infrastructure and transmission grid were put into operation synchronously and modernly; salaries and allowances for meritorious people, pensions, social security were increased and the regional minimum wage for workers was adjusted by 6-7%/year...

Some GDP-related indicators, especially GDP growth rate, are difficult to achieve due to the complex and unprecedented developments in the world, region and country, with more severe impacts than forecast.

Moreover, the economy is deeply affected by adverse external factors, especially the Covid-19 pandemic, supply chain disruptions, competition from major powers, and military conflicts in regions that cause abnormal fluctuations in input material prices.

During the discussion session, Mr. Le Hoang Anh, Standing Member of the National Assembly's Finance and Budget Committee, assessed that 2025 is expected to be a year with many difficulties.

Mr. Le Hoang Anh said that to achieve the set goals, the Government must focus on continuing to promote public investment and disbursement of public investment capital to lead and activate all non-state resources.

At the same time, it is necessary to renew traditional growth drivers such as investment, consumption, and export, especially to increase domestic consumption stimulus.

Source: https://baodautu.vn/de-xuat-muc-tieu-tang-truong-gdp-nam-2025-tu-65---7-d226210.html