PM urges concerted efforts for economic growth of at least 8% in 2025
Prime Minister Pham Minh Chinh has issued a dispatch asking for concerted efforts to promote economic development in 2025 with an aim for a gross domestic product (GDP) growth rate of at least 8% in the year.
Vietnam's gross domestic product (GDP) growth rate is projected to reach at least 8% (Illustrative image. Source: VNA)
Hanoi (VNA) – Prime Minister Pham Minh Chinh has issued a dispatch asking for concerted efforts to promote economic development in 2025 with an aim for a gross domestic product 𓆏(GDP) growth rate of at least 8% in the year.
In Dispatch No. 137/CD-TTg, the PM emphasised that 2025 is a milestone year for Vietnam to embark on a new era of development – the era of the nation’s rise, asking for drastic measures by relevant ministries, agencies, provinces and cities to promote socio-economic development.
The focus will be on strengthening economic growth in line with stabilising the macro-economy, controlling inflation, ensuring major balances to achieve a GDP growth rate of more than 8% in 2025, higher than the National Assembly’s target at 6.5-%.
Specifically, Hanoi and Ho Chi Minh City must strive to achieve a growth rate of around 8-10%.
The PM also asked for efforts to renew traditional growth drivers, including investment, consumption and exports. With regard to investment, the PM asked the disbursement and efficiency of public investment to be increased. The Ministry of Planning and Investment will be in charge to develop mechanisms to attract foreign investment, focusing on large-scale and high-tech projects.
Besides, it is necessary to promote and create breakthroughs for new growth drivers, including digital transformation, circular economy and new industries such as semiconductor, artificial intelligence, cloud computing, Internet of Things as well as green transition.
A sandbox for circular economy will be submitted to the Government in the first quarter of next year. Vietnam will also issue green taxonomy to promote green transition.
Another important focus is to strengthen the development of the strategic infrastructure system, including the North-South high-speed railway, urban railways in Hanoi and HCM City, railways connected with China and the Long Thanh International Airport in the southern province of Dong Nai.
Efforts are also needed to speed up the resumption of nuclear power plants, the construction of international financial centres in HCM City and Da Nang and the foundation of free trade zones in several localities.
The Ministry of Information and Communications must focus on developing the national digital infrastructure system, including the commercialisation of 5G and the development of 6G./.
Vietnam will be the standout among the top six ASEAN economies (ASEAN-6), growing at a faster pace relative to its peers during the next few years, according to the Oxford Economics, a global economic advisory firm.
With just days remaining in 2024, the Vietnamese economic landscape looks promising, with the GDP growth expected to exceed the set target of 7% thanks to concerted efforts by ministries and sectors, according to Deputy Minister of Planning and Investment Tran Quoc Phuong.
The planned increase in Indonesia’s value-added tax (VAT) rate from 11% to 12% could reduce the country's gross domestic product (GDP) by 21 trillion IDR (1.3 billion USD), economists warned.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
