Minister Nguyen Chi Dung clearly stated that the target for 2025 is for Vietnam’s GDP growth to be around 6.5-7% and strive to achieve higher growth (7-7.5%) so that by the end of 2025, Vietnam will rank 31-33 in the world in terms of GDP scale.
On the morning of October 9, the National Assembly Standing Committee gave opinions on the Government’s report on the results of the implementation of the 2024 socio-economic development plan and the projected 2025 socio-economic development plan.
Many outstanding achievements
Presenting the Government’s report, Minister of Planning and Investment Nguyen Chi Dung summarized 10 outstanding results of the socio-economic situation in the first 9 months, estimated for the whole year of 2024.
In which, economic growth is higher than the set targets, the macro economy is basically stable, inflation is controlled, major balances are ensured, state budget deficit is controlled, public debt and government debt are much lower than the allowed target.
The GDP growth rate in the following quarter is higher than the previous quarter. The third quarter is estimated at 7.4% over the same period, and the total for the first 9 months is 6.82%, among the top in the world and the region.
Some localities heavily affected by storm No. 3 still maintained high growth momentum in the first 9 months such as Hai Phong, Quang Ninh, Yen Bai…
Mr. Dung said the Government aims to strive for annual growth of 7%.
The average consumer price index (CPI) growth rate for the first 9 months was 3.88%, in the context of salary increase from July 1 and price adjustment of some services; the whole year is estimated to increase by 4.5%.
Exchange rates, currency and foreign exchange markets have developed in line with the world market. State budget revenue for the first 9 months is estimated to reach 85.1% of the estimate, up 17.9% over the same period, and for the whole year it is estimated to reach 10.1% over the estimate…
In the first 9 months, import-export turnover , export and import increased by 16.3%, 15.4% and 17.3% respectively compared to the same period. Trade surplus is estimated at 20.8 billion USD. Total social investment capital growth continued to recover, private investment increased by 7.1%.
In particular, FDI attraction continues to be a bright spot, with total registered FDI capital in the first 9 months reaching about 24.8 billion USD, up 11.6% over the same period, of which realized FDI capital was about 17.3 billion USD, up 8.9%, the highest since 2021.
In September, about 17,700 enterprises entered and re-entered the market. In total, in the first 9 months, there were about 183,000 enterprises, higher than the number of enterprises withdrawing from the market (163,800 enterprises).
Balances on energy security and food security are ensured.
The work of perfecting institutions and laws is directed resolutely, with the spirit of reform and innovation in thinking, thinking, and doing, promoting decentralization and delegation of power.
With the motto of local decision, local action, local responsibility, the Central Government, Government and National Assembly play the role of creating, strengthening institutional improvement, inspection and supervision.
According to Minister Dung, infrastructure development has been strongly promoted, with clear breakthroughs, especially in transport and electricity infrastructure. To date, more than 2,021km of expressways have been completed and put into operation, opening up many new development spaces.
A 500-day and night emulation movement has been launched to complete 3,000km of expressway by 2025… Infrastructure serving digital transformation , developing digital government, digital economy, and digital society continues to be strongly promoted.
However, in addition to the achieved results, there are still some limitations, difficulties and challenges. In particular, production and business activities face many difficulties; institutions and laws still have some problems and shortcomings, which have not been promptly amended and supplemented to suit the reality and development requirements.
Decentralization, delegation of authority, reduction of some regulations, administrative procedures , standards, technical regulations, cumbersome business conditions, not thorough…
GDP growth is expected to be around 6.5-7%, striving for higher
Regarding 2025, according to Minister Dung, the Government plans to have 15 main targets. Of which, GDP growth is about 6.5-7% and strives to achieve a higher growth rate (7-7.5%) to rank 31-33rd in the world in terms of GDP scale by the end of 2025.
GDP per capita reached about 4,900 USD; the proportion of processing and manufacturing industry in GDP reached about 24.1%; the average CPI growth rate was about 4.5%; the average social labor productivity growth rate was 5.3-5.5%…
On this basis, according to Mr. Dung, the Government proposed 12 groups of solutions such as prioritizing growth promotion on the basis of maintaining macroeconomic stability, controlling inflation, and ensuring major balances of the economy.
Focus on reviewing and removing legal difficulties and obstacles, perfecting the legal system, and actively implementing bills after they are passed by the National Assembly…
