>> PM calls for concerted efforts for growth of at least 8% in 2025
>> Optimism about Vietnam’s economic growth in 2024
| Deputy Minister of Planning and Investment, Nguyên Duc Tam (center). |
| Photo : VNA/CVN |
The Deputy Minister recalled that at the end of December 2024, the Prime Minister had issued an official dispatch asking ministries, sectors and localities to prepare ambitious growth scenarios for 2025. These plans aim to guarantee a minimum rate of 8% , with potential for double-digit expansion if conditions permit.
Expectations are particularly high for strategic locations such as Hanoi, Ho Chi Minh City, Binh Duong and Dong Nai. A performance higher than that of 2024 in these regions could significantly strengthen the national economy.
To achieve this objective, the Ministry of Planning and Investment plans to focus on innovation and improvement of the institutional framework. During the next 9th session of the National Assembly, several legislative revisions are expected, in particular those relating to the management and use of state capital in companies, as well as to the law on companies. These adjustments aim to overcome current business challenges and create an environment conducive to their development.
The vice-minister also highlighted the need to stabilize the macroeconomy, control inflation and ensure major balances in the economy. Efforts will be made to renew the engines of growth, with emphasis on three pillars: investment, domestic consumption and foreign trade.
| In the Co.opmart supermarket in Trà Vinh. |
| Photo : VNA/CVN |
For 2025, approximately 290,000 billion VND (approximately 11.4 billion USD) of public investment capital is expected to be disbursed, an amount which could exceed 300,000 billion VND when including funds carried over from 2024. These massive investments will be used catalysts to mobilize private capital and stimulate economic growth.
The ministry designates 2025 as a pivotal year to promote domestic consumption and strengthen tourism, both national and international. Furthermore, the implementation of the 17 free trade agreements (FTAs) signed will be accelerated, with particular emphasis on the development of the halal products market.
Politburo Resolution 57 on science, technology, innovation and digital transformation will also take center stage in growth efforts.
By the end of 2025, the country plans to finalize 3,000 km of highways and 1,000 km of coastal roads, thus consolidating its infrastructure as a key driver of growth.
In addition, the creation of financial centers in Ho Chi Minh City and Da Nang is an innovative initiative to attract additional resources. “If these efforts are successful, Vietnam will have essential levers to support robust economic growth”a group of Nguyen Duc Tam.
VNA/CVN
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