Prime Minister Pham Minh Chinh, when discussing at the recent National Assembly session on the supplementary project on socio-economic development in 2025 with the target of 8% growth or more, affirmed that there is a lot of work to be done. Everything is very difficult, but the more difficult and pressured, the more effort must be made.
Growth of 8% or more is possible
Speaking at the 9th extraordinary session, many National Assembly deputies analyzed aspects of the economy in 2025 and prospects for 2025 to come to the conclusion: Changing the growth target to a higher level with the National Assembly Resolution at the end of 2024 is necessary and we can completely achieve it.
Considering that the Government's Project to adjust the growth target of 8% or more in 2025 is a great effort and a very high political determination, Mr. Tran Anh Tuan - National Assembly Delegate of Ho Chi Minh City Delegation assessed: This target is the foundation for 2025 - the last year of the term, a very solid basis for us to believe in continuing to have higher growth, possibly double digits from 2026 onwards.
National Assembly Deputy To Van Tam (Kon Tum delegation) emphasized that in 2024, we achieved and exceeded all 15/15 main targets, including GDP growth of 7.09%, labor productivity of 5.88%, innovation index increased by 2 ranks compared to 2023 and ranked 44th in the world. Mr. Tam also commented that the achievements of 2024 are the foundation for development in 2025.
In fact, 2024 is a year when our country faces countless difficulties, the world economy is still on the path of slow recovery; domestically, the economy is on the path of recovery but is heavily affected by Typhoon Yagi, it seems that the 2024 development target cannot be achieved. In that context, we have maintained macroeconomic stability, controlled inflation at a low level in the world; promoted growth with high growth rates in the world and the region. The major balances of the economy are ensured. National defense and security are strengthened, consolidated and maintained. In the context of difficult situations, we still maintain a peaceful environment for development cooperation. Foreign investment increases, the trade balance increases to the top 20 in the world in terms of commercial activities.
Based on the achievements made with the persistent efforts of the whole society, the Government has built an 8% growth scenario with many specific and outstanding contents. Along with that, the National Assembly is very determined in quickly perfecting institutions to create a legal corridor, ensuring sustainable development in the new period. Thus, we can see a very high political determination in implementing growth targets not only for 2025 but also for the next period.
To achieve the goal must make an effort.
This year we talk about breaking through, accelerating and reaching the finish line. It must be said that it is very difficult, but no matter how difficult it is, we must do it, if we don't do it, we can't do it. If we don't do it, we won't be able to achieve the two 100-year goals - Prime Minister Pham Minh Chinh expressed the Government's determination.
At the same time, the Prime Minister emphasized that the Government sees the need to report to the Politburo and the Central Committee to strive for higher targets in 2025, specifically increasing growth to 8% or more. Recently, after the Central Committee Conference, the Government issued a resolution to immediately assign growth to provinces, cities and relevant ministries. Regarding solutions, the Prime Minister emphasized creating creative space for ministries, sectors, localities, enterprises and relevant entities to creatively achieve growth targets. All must participate under the leadership of the Party. Choosing a high growth target requires high credit growth, combined with fiscal policy, creating favorable conditions for people and businesses.
The growth target is there, now is the time to take specific, drastic actions along with a series of solutions to achieve that target. National Assembly Deputy Tran Anh Tuan said that we are currently implementing two parallel fiscal and monetary policies, so we must continue to expand them in 2025, which means we need to expand these two policies at the same time to avoid conflicts. In terms of monetary policy, it is necessary to control interest rates at a reasonable level of 6% so that businesses can access them, combined with the compulsory reserve policy as well as the open market so that credit growth in 2025 can reach 17-18% - this will contribute greatly to growth of over 8%. In particular, it is also necessary to continue to reduce taxes, especially VAT. There are many policies to attract domestic and foreign investment to contribute to the processing industry to continue to grow stronger. There should be some other policies such as considering prioritizing some locations, land or land use fees... to encourage investment in this field and stimulate investment. Continue to remove difficulties and obstacles in backlogged projects, large projects with very specific solutions to unlock resources. At the same time, investment procedures for new projects must be completed quickly, if left slow, it will be very difficult to bring resources into the economy.
From his perspective, National Assembly Deputy Ly Tiet Hanh (Binh Dinh delegation) proposed to focus on removing bottlenecks in administrative procedures so that the economy can quickly absorb capital in the first 6 months of the year, in which it is necessary to pay attention to investment projects of the private sector. To do so, it is necessary to more closely assess the current difficulties of the private sector, especially small and medium enterprises in the export sector, helping them proactively take measures to cope with fluctuations in the world market and at the same time have effective solutions to support domestic enterprises, creating favorable conditions for enterprises to access capital to invest in developing production, business, and exporting goods in the first months of 2025.
Along with economic solutions, the effective implementation of Resolution 18-NQ/TW in 2017 related to streamlining the apparatus of the political system goes hand in hand with streamlining the payroll, restructuring the staff with sufficient qualities and capacity to meet the tasks. Because only with good "roots" and sufficient capacity and qualifications can we contribute well to the overall growth target of the country.
Voting to pass the National Assembly Resolution supplementing the 2025 socio-economic development plan with a growth target of 8% or more
The resolution was passed with the following general objectives: Consolidating and preparing well the fundamental factors to successfully implement the 10-year socio-economic development strategy for 2021 - 2030, marking the time when the country enters a new era of development, contributing to creating a solid foundation to achieve double-digit growth in the period 2026 - 2030. In 2025, focus on promoting growth with the target of 8% or more associated with maintaining macroeconomic stability, controlling inflation, ensuring major balances of the economy; harmoniously developing the economy with society and protecting the environment, ensuring national defense and security; creating the premise for higher growth in the following years.
At the same time, adjust some specific key targets: Gross Domestic Product (GDP) growth rate reaches 8% or more, GDP scale in 2025 reaches about 500 billion USD. GDP per capita is about 5,000 USD. Average consumer price index (CPI) growth rate is about 4.5 - 5%.
Source: https://daidoanket.vn/muc-tieu-tang-truong-nam-2025-ap-luc-va-no-luc-10301335.html
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