(MPI) - At the 42nd session of the National Assembly Standing Committee held on the afternoon of February 10, 2025, Minister of Planning and Investment Nguyen Chi Dung presented the Government's Submission on the Supplementary Project on Socio-Economic Development in 2025 with a growth target of 8% or more and emphasized that 2025 is of special importance, being the final year of implementing the 5-year Socio-Economic Development Plan 2021-2025, the year of acceleration, breakthrough, and reaching the finish line, and at the same time the year of focusing on organizing Party Congresses at all levels towards the 14th National Party Congress and consolidating and preparing well the fundamental factors to successfully implement the 10-year Strategy 2021-2030, marking the time when the country enters a new era of development.
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| Minister of Planning and Investment Nguyen Chi Dung presented the Government's Proposal on the Supplementary Project on Socio-Economic Development in 2025 at the 42nd session of the National Assembly Standing Committee. Photo: quochoi.vn |
Minister Nguyen Chi Dung said that thanks to the high determination, great efforts, and drastic actions of the entire political system, the people and businesses under the leadership of the Party, and regularly and directly led by the Politburo and the Secretariat, our country has successfully and comprehensively completed the socio-economic development goals for 2024; achieved and exceeded all 15/15 main targets (of which 12 targets were exceeded). Many important targets and indicators achieved outstanding results, higher than the estimated implementation reported to the Central Committee and the National Assembly, and were highly appreciated by the people and the international community.
The economy recovered quickly from adverse external and domestic developments, becoming a bright spot in terms of growth and macroeconomic stability in the world. GDP in 2024 is estimated to increase by 7.09%, among the few countries with the highest growth in the region and the world, and is highly appreciated by international organizations; GDP size is about 476.3 billion USD, forecast to rank 33rd in the world, up 2 places compared to 2023; GDP per capita reaches 4,700 USD. Trade surplus is estimated at 24.77 billion USD; total state budget revenue exceeds the estimate by 19.8%; public debt, government debt, foreign debt and state budget deficit are much lower than the allowable limit.
People and businesses have increased their confidence in the growth prospects of the economy, increased new investment and expanded production and business. Total social investment capital in 2024 increased by 7.5%; registered FDI capital was nearly 38.23 billion USD, realized FDI capital was estimated at about 25.35 billion USD, up 9.4%.
Strategic breakthroughs have been implemented vigorously, with a spirit of innovation and high determination, achieving many positive results. Institutions and laws are the focus of reform, with synchronous and strong steps to improve management effectiveness, creating a transparent and favorable legal environment for development. Development of strategic infrastructure, especially transport and energy infrastructure, has achieved many important achievements. Human resource development has changed positively; digital economy and green economy have become new growth drivers; digital transformation and building a digital government have achieved many results, notably the implementation of Project 06. Labor productivity is estimated to increase by 5.88%, exceeding the set target; the Global Innovation Index ranks 44th in the world, up 2 places compared to 2023.
The fields of culture, society, social security, health, education, environment, etc. continue to be invested and developed with clearer results. The poverty rate (according to the multidimensional poverty standard) decreased by about 01%, achieving the set target. Vietnam's happiness index ranked 54th in the world, up 11 places compared to 2023; the Sustainable Development Index (SDGs) ranked 54th, up 01 place.
Administrative reform, anti-corruption, waste and negativity continue to be promoted, not to affect socio-economic development, contributing to consolidating and enhancing people's trust. Seriously and effectively implement the arrangement and streamlining of the apparatus in the spirit of Resolution No. 18-NQ/TW.
National independence and sovereignty are maintained; national defense and security potential is consolidated and enhanced; foreign affairs and international integration have achieved many outstanding achievements, enhancing the country's prestige and position, contributing to attracting foreign investment, promoting exports and expanding international markets.
Therefore, the country's GDP growth in 2025 needs to reach 8% or more, contributing to creating a solid foundation to achieve double-digit growth rates for a long enough period (starting from 2026). Growth must be fast but sustainable, maintaining macroeconomic stability, controlling inflation, ensuring major balances; harmonious development between the economy and society and environmental protection, ensuring national defense and security.
With a growth scenario of 8% or more in 2025, the requirement is for the growth of the industrial and construction sector to be about 9.5% or more (of which the processing and manufacturing industry increases by 9.7% or more); services increase by 8.1% or more; agriculture, forestry and fishery increase by 3.9% or more). Economic sectors will grow about 0.7-1.3% higher than in 2024; industry and construction, especially the processing and manufacturing industry, will continue to be the driving force for growth...
GDP scale in 2025 is about over 500 billion USD, GDP per capita is about over 5,000 USD.
Growth drivers: Total social investment capital is about 174 billion USD or more, approximately 33.5% of GDP (higher than 3 billion USD); of which public investment is about 36 billion USD (equivalent to 875 trillion VND, about 84.3 trillion VND higher than the assigned plan for 2025 of 790.7 trillion VND), private investment is about 96 billion USD, FDI is about 28 billion USD, other investment is about 14 billion USD. Total retail sales of goods and consumer service revenue (current prices) in 2025 increase by about 12% or more. Total import-export turnover in 2025 increases by 12% or more; trade surplus is about 30 billion USD.
Minister Nguyen Chi Dung also emphasized the conditions for implementing the growth scenario of 8% or more; specific tasks and solutions such as the levels, sectors and localities resolutely, synchronously and effectively implementing Conclusion No. 97-KL/TW, No. 123/KL/TW of the Central Committee, Resolution No. 158/2024/QH15 of the National Assembly on the Socio-Economic Development Plan for 2025; closely monitoring, grasping the situation, proactively developing plans and solutions to achieve the highest results of the set goals. The Government issued Resolution No. 01/NQ-CP dated January 8, 2025 for implementation, with the spirit of turning all difficulties and challenges into breakthrough opportunities, high determination, great efforts, drastic actions to achieve growth in 2025 of at least 8% and strive for double digits in more favorable conditions.
At the meeting, the Economic Committee presented the report on the Government's Project and expressed its basic agreement with the targets, requirements, and economic growth scenarios for 2025 in the Government's Submission and Report. The submission to the National Assembly to adjust the economic growth target for 2025 demonstrates the Government's determination and efforts in successfully implementing the socio-economic development goals for the 2021-2025 period, contributing to consolidating and creating a solid foundation to achieve double-digit growth over a long enough period, bringing our country into an era of prosperous development./.
Source: https://www.mpi.gov.vn/portal/Pages/2025-2-12/Bo-truong-Nguyen-Chi-Dung-trinh-bay-To-trinh-cua-C72x9ba.aspx
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