Prime Minister: Growth from 10% in 2026, GDP per capita reaches 5,500 USD

Prime Minister Pham Minh Chinh - Photo: GIA HAN

On the morning of October 20, at the opening session of the 10th session of the 15th National Assembly, Prime Minister Pham Minh Chinh reported on the results of the implementation of the socio-economic development plan for 2025 and the 5-year period of 2021-2025, and the projected socio-economic development plan for 2026.

GDP scale increased 5 levels, exceeding 510 billion USD

According to the Prime Minister , the 2021-2025 term took place in a very complicated and unpredictable context, with many problems beyond forecast. Especially with the severe consequences of the COVID-19 pandemic, there were more difficulties than advantages, but 22/26 socio-economic targets were achieved and exceeded, approximately 2/26 targets were achieved. Of which, all 15/15 socio-economic targets were achieved and exceeded.

Along with responding well to the COVID-19 pandemic to help the economy recover quickly, the Prime Minister said that Vietnam's economy has affirmed its ability to withstand external shocks, maintaining a growth rate among the highest in the world.

The size of the economy will increase from 346 billion USD in 2020 to 510 billion USD in 2025, up 5 places, to 32nd place in the world; GDP per capita in 2025 is estimated to reach about 5,000 USD, 1.4 times higher than in 2020, entering the upper middle-income group.

The macro economy is basically stable; inflation is controlled below 4%, and major balances of the economy are ensured. Traditional growth drivers are all effective. Three strategic breakthroughs are being implemented resolutely and effectively, opening up space and creating development.

The infrastructure system has developed dramatically with many large-scale, modern, connected, widespread and future-shaping projects. Science and technology, innovation and digital transformation have been vigorously deployed, achieving important initial results.

Notably, many backlogged projects that had lasted for many years were resolutely handled, achieving positive results, contributing to the liberation of resources for development. Cultural and social fields have made progress in terms of awareness, action and results; people's lives have been improved.

The Prime Minister also said that the Government has resolutely and effectively implemented the arrangement and streamlining of the Government apparatus and the organization of two-level local governments in conjunction with promoting decentralization and delegation of power.

Of which, the state administrative staff reduced by 145,000 people; regular expenditure reduced by 39,000 billion VND/year; the activities of two-level local governments gradually became more orderly, shifting from administrative management to serving the people and creating development.

The work of inspection, examination, prevention and fight against corruption, waste and negativity has been strengthened. Proposal to recover nearly 425,000 billion VND and 2,200 hectares of land. Strictly handle and recover money and assets from corruption and economic cases of nearly 13,600 billion VND, 520,000 USD; assets worth nearly 438,000 billion VND have been seized.

National defense and security potential has been consolidated and enhanced, including enhancing national defense and security potential, being capable of self-defense; and producing a number of important weapons. Foreign affairs and international integration are bright spots, especially when Vietnam was re-elected to the United Nations Human Rights Council for the 2026-2028 term.

Prime Minister Pham Minh Chinh presents a socio-economic report - Photo: GIA HAN

Promoting economic restructuring and deploying strategic infrastructure

In that context, the Government's target for 2026 is to strive for GDP growth of 10% or more; GDP per capita of 5,400 - 5,500 USD; average CPI increase of about 4.5%; average social labor productivity increase of about 8%; poverty rate according to multidimensional poverty standards decrease by about 1 - 1.5%...

The solutions focus on prioritizing growth promotion in association with maintaining macroeconomic stability, controlling inflation, ensuring major balances; controlling public debt and budget deficit within prescribed limits. Promoting industrialization, modernization, and restructuring the economy; resolutely implementing the Politburo's policies in important and key areas. Focusing on building and perfecting a synchronous development institution.

Continue to improve the organization of the state administrative apparatus; focus on handling long-standing backlog projects. Focus on investing in the construction of strategic infrastructure projects, including the Lao Cai - Hanoi - Hai Phong railway, the railway connecting to China, the Hanoi and Ho Chi Minh City urban railway; strive to start the North - South high-speed railway.

Focus on developing high-quality human resources, quickly training 100,000 engineers in the fields of semiconductor chips, artificial intelligence and 11 strategic technology groups. Focus on developing culture, ensuring social security, improving people's lives, striving to complete over 110,000 social housing units.

Proactively respond to climate change, prevent and combat natural disasters, strengthen resource management, and protect the environment. Including handling air pollution and traffic congestion in big cities with a suitable roadmap, implementing projects to prevent natural disasters, respond to climate change, etc.

Turn danger into opportunity to bring the country into a new phase

Despite the achievements, the head of the Government acknowledged the great challenges in the pressure of macroeconomic stability management. The real estate, gold and bond markets are still complicated. Production and business in some areas are still difficult. Science and technology, innovation and digital transformation have not really become the main growth drivers.

The arrangement and streamlining of the apparatus and organization of the local government at two levels is difficult, implemented on a large scale, in a short time, with high requirements, so there are still places that are confused and not synchronized. The handling of projects and real estate facilities that are backlogged and prolonged still requires more effort. The lives of a part of the people are still difficult; environmental pollution...

However, according to the Prime Minister, the past term was a journey of strong will, steadfastness, and creative intelligence; a journey of faith, aspiration, and the spirit of overcoming difficulties for the country and the people. We have turned danger into opportunity; turned thinking into resources; turned challenges into motivation, and achieved very valuable and proud achievements.

"Entering a new phase, with the strength of great solidarity, self-reliance, national pride, aspiration to rise up and the movement of innovation, building a digital government, digital society, and digital citizens, we will definitely successfully complete these very difficult but extremely glorious tasks," the Prime Minister emphasized.

Thanhnien.vn

Source: https://tuoitre.vn/thu-tuong-nam-2026-tang-truong-tu-10-gdp-binh-quan-dau-nguoi-dat-5-500-usd-20251020100357635.htm#content-2