Ministry of Finance: "The economic growth target for 2025 remains unchanged" - Lang Son Newspaper and Radio and Television

The Ministry of Finance has developed the next growth scenario for each industry and sector, allocated to localities and regions. In general, the Ministry of Construction for the second quarter of 2025 sets a growth target of about 8.3%.

Regular Government press conference in March 2025. (Photo: Duc Duy/Vietnam+)

Regarding the GDP growth results in the first quarter and the whole year of 2025 as well as the results of FDI attraction, at the Government Press Conference on the afternoon of April 6, Deputy Minister of Finance Do Thanh Trung informed the press.

There is a basis to strive for growth of more than 8%

From the growth results of the first quarter of 2025 at 6.93%, according to Mr. Trung, this is the highest growth rate in the first quarter in the period of 2020-2025. In particular, this growth rate is higher than the initial scenario at the 10th Central Conference, but lower than the scenario after the 10th Central Conference issued Conclusion No. 123-KL/TW (striving for a growth target of 8% or more for the whole year).

“Since the Central Government issued Conclusion 123, we have not had much time and even in the first quarter, there were many holidays but we achieved a growth rate of 6.93%, close to the high growth scenario (7.7%), this is a very positive and encouraging result, recognizing the great efforts of the government at all levels, the people, businesses, and the political apparatus,” said Deputy Minister Do Thanh Trung.

Citing additional information, according to Mr. Trung, entering 2025, there have been many comments that this is a very difficult year with many unpredictable and hard-to-forecast problems, however, the Prime Minister and the Government are very determined and making efforts to achieve the growth target. Despite facing difficulties since the beginning of April, at the Government meeting this morning, the Prime Minister still requested and determined that the growth target for the whole year of 2025 remains unchanged, striving to achieve 8% or more, and that is the order of the head of the Government.

On that basis, the Ministry of Finance has developed the next growth scenario for each industry and sector, allocating to localities and regions such as the second quarter of 2025 with a growth target of about 8.3% and the third and fourth quarters respectively reaching about 8.3-8.4%.

“This scenario is about 0.27% higher than the initial scenario approved by the Government after Conclusion 123. Although this scenario is very challenging, there is a reason for us to achieve it,” he said.

Deputy Minister Do Thanh Trung informed about solutions to achieve growth in the whole year of 2025. (Photo: Duc Duy/Vietnam+)

Specifically, the manufacturing sector increased by 9.28% in the first quarter of 2025 and with the scenario for the second quarter, this sector will increase by 10.1%. In addition, the authorities are implementing many solutions to overcome the growth contribution targets that have not been met, such as: mining industry, electricity and gas production... and implementing solutions to promote the current space that can contribute to growth such as: Disbursing public investment capital, focusing more on the tourism and service sectors.

“Although the first quarter results have not yet achieved the high growth target, there is a basis to continue striving for more than 8%, so the 8% mark should be used as a target to build similar scenarios, considering it as a baseline scenario. Certainly, the Government, ministries, branches and localities will strive to achieve and exceed and strive to exceed the set level,” said Deputy Minister Do Thanh Trung.

In addition, Minister and Chairman of the Government Office Tran Van Son also emphasized that the first quarter growth reached 6.93%, the highest growth rate since 2020 and exceeded the initial growth scenario. Notably, all three sectors grew well, including agriculture up 3.74%; industry and construction up 7.42%; and services up 7.70%.

Statistics show that the localities with good growth are Ho Chi Minh City with an increase of 7.51%, Hanoi with an increase of 7.35% and 9 localities with double-digit growth (Bac Giang, Hoa Binh, Nam Dinh Da Nang, Lai Chau, Hai Phong, Quang Ninh, Hai Duong, Ha Nam).

“The macro economy is stable, inflation is under control, major balances are ensured: the average CPI in the first quarter increased by 3.22%. Exports and imports in March increased by 18.2% compared to February and 16.6% compared to the same period; the first quarter as a whole increased by 13.7% compared to the same period, of which exports increased by 10.6%, imports increased by 17%, with a trade surplus of 3.16 billion USD,” said Minister Tran Van Son.

Acknowledging the existence and potential of digital assets

Regarding foreign investment attraction and the whole year's potential, according to Deputy Minister of Finance Nguyen Thanh Trung, the first quarter was quite good, with newly registered capital and adjusted capital, capital contributions, and share purchases by foreign investors (FDI) in the first quarter reaching approximately 11 billion USD, an increase of approximately 35% over the same period in 2024.

In particular, realized capital reached 5.16 billion USD, 5.1 times higher than the same period, realized FDI capital alone was 4.96 billion USD, up 7.2% over the same period, mainly focused on the processing and manufacturing sectors (accounting for nearly 62% of total registered capital and up 26% over the same period).

Commenting on the next quarters, the leader of the Ministry of Finance said that there are several major factors, namely international organizations, banking and financial institutions all assess the possibility of an increase in the probability of a global economic downturn, so many organizations have lowered the growth rate and this will certainly affect Vietnam.

Furthermore, the US tax policy applies not only to Vietnam but also to all countries that trade with the US, and this is also a factor that greatly affects psychology, the investment environment as well as business investment prospects...

Despite the difficulties, the Ministry of Finance is implementing many solutions, including establishing a working group to work directly with major investors to promote and concretize large foreign investment projects. The target for registration this year is still from 38-40 billion USD, with realized capital from 27-28 billion USD.

Regarding digital currency, Deputy Minister Nguyen Thanh Trung informed that the Ministry of Finance is assigned the responsibility of completing the legal framework to handle crypto assets, cryptocurrencies, etc. The Ministry of Finance has coordinated with relevant ministries and branches to study the current situation and international experience in management, etc. Accordingly, the Ministry also recommended that the Government acknowledge the existence and potential of digital assets, which is a very important viewpoint.

In March 2025, the Government directed the Ministry of Finance to develop a legal framework for managing crypto assets and the Ministry of Finance coordinated with ministries and branches to implement this.

Banks deploy many credit solutions to accompany businesses. (Photo: Vietnam+)

With the viewpoint and principle of cautious implementation with a roadmap, in line with reality, ensuring safety, transparency and efficiency, ensuring the rights and interests of individuals and organizations participating in the crypto market, this implementation will be piloted on the trading market and issuance of crypto assets linked to assets (need to coordinate to clarify that this is not a security...). Implementation on the trading market and issuance of this crypto asset promises to add a new capital mobilization channel for businesses in addition to traditional financial assets.

The pilot implementation in the market will need to comply with the provisions of Vietnamese law and the laws of the countries where foreign investors participating in the crypto-asset market are citizens.

“Based on the Prime Minister’s conclusions and the direction of Deputy Prime Minister Ho Duc Phoc, the Ministry of Finance has issued documents such as the draft Resolution of the Government to send to ministries and branches for comments and we will complete it and get comments from the Ministry of Justice. Currently, the Ministry of Finance is synthesizing, receiving and explaining comments to complete the next draft before reporting to the Government,” he said./.

Source: https://baolangson.vn/ministry-of-finance-targets-economic-growth-of-2025-khong-thay-doi-5043318.html