With the goal of striving for a GDP growth rate of 7 – 7.5% next year, the economic scale in 2025 could reach 500 billion USD.

In the 2025 Socio-Economic Development Plan, the Government targets GDP growth of about 6.5 – 7% and strives for a higher growth rate of 7 – 7.5%. With this growth momentum, the size of the economy in 2025 could reach 500 billion USD. This is an important milestone in consolidating  Vietnam’s economic position  in the region and the world.

At this point, the forecast of this year’s growth of about 7% is considered very feasible, creating a foundation for next year.

Mr. Le Trung Hieu – Deputy General Director of the General Statistics Office said: “In 2024, the GDP growth rate in the first 9 months reached 6.82%, the target of about 7% in 2024 is completely within reach. Our economic scale in 2024 is estimated at 465 billion USD”.

With a sustained growth rate of 6.5 – 7%, the GDP scale in 2025 will be around 500 billion USD, at this level, Vietnam will rise to 32nd place in the world and 4th in the ASEAN region. With this growth momentum,  GDP per capita  next year is estimated to reach around 4,900 USD, an increase of nearly 32% compared to 2021 and surpass the low middle income level, when maximizing growth drivers.

As economies expand, access to resources such as concessional loans and ODA loans will become more difficult. But this reality is gradually changing, as lending institutions increasingly pay attention to the internal efforts and long-term prospects of the countries receiving support.

Mr. Sugano Yuichi – Chief Representative of the Vietnam Office of the Japan International Cooperation Agency (JICA Vietnam) said: “The Vietnamese Government is currently making efforts to develop legal regulations related to ODA, which will create peace of mind for bilateral donors such as JICA and international organizations when implementing projects in Vietnam”.

A stronger institutional breakthrough is one of the 11 main groups of tasks and solutions that the Government has set out for 2025, with an innovative mindset of “both strict management and development creation”.

Vietnam’s macroeconomic stability and long-term stability are highly appreciated by many international organizations. Inflation has been well controlled for nearly 10 years. Controlling deficit and public debt within safe limits gives Vietnam a good space to mobilize resources for development.