Deputy Prime Minister Nguyen Chi Dung said that despite difficulties and challenges, the Government has received consensus and high determination from the Central Government, localities and the whole society to achieve growth of over 8% by 2025.
Renewing growth drivers
Regarding goals and targets, the draft Resolution clearly states that the general goal is to consolidate and prepare well the fundamental factors to successfully implement the 10-year Socio-Economic Development Strategy 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 order to contribute to creating a solid foundation for achieving double-digit growth in the coming time, according to the Supplementary Report on the Socio-Economic Development Plan for 2025 with a growth target of 8% or more, the growth scenario has also been renewed to achieve the new target. Accordingly, the growth of the industrial - construction sector is about 9.5% or more (of which, the processing - 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).
According to this scenario, economic sectors will accelerate, achieving growth rates 0.7 - 1.3% higher than in 2024; in which, industry - construction, especially processing - manufacturing industry, will continue to be the driving force for economic growth.
Still according to the new scenario, GDP scale in 2025 will reach over 500 billion USD, GDP per capita over 5,000 USD.
Regarding growth drivers (investment, consumption and export), the Government calculates that 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 875,000 billion VND, about 84,300 billion VND higher than the assigned plan for 2025 of 790,700 billion VND).
Private investment is about 96 billion USD, foreign direct investment (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 will increase by 12% or more. Total import-export turnover in 2025 will increase by 12% or more; trade surplus is about 30 billion USD. Average CPI growth rate is 4.5 - 5%.
The report also stated that the conditions for implementing the growth scenario of 8% or more, according to the Government, are first of all new thinking, new ways of doing things, breakthroughs in institutions, solutions, decentralization, and radical decentralization. Completing the work of streamlining the organizational apparatus to be lean, effective, and efficient, so as not to affect the people and the production and business activities of enterprises in the short term.
In addition, promote the leading role of growth of dynamic regions, economic corridors and growth poles. In particular, the GRDP growth of localities in 2025 must be at least 8-10%, especially Hanoi, Ho Chi Minh City, potential localities, large cities that are locomotives and growth poles must strive for a growth rate higher than the national average; have appropriate incentive mechanisms for localities with high growth, with regulation to the Central Government.
Along with that, promote and renew traditional growth drivers of investment, consumption and export; strongly develop science and technology, innovation, digital transformation, and high-quality human resources to become increasingly important driving forces and factors promoting growth.
If necessary, the state budget deficit can be adjusted to about 4-4.5% of GDP to mobilize resources for development investment; public debt, government debt, and foreign debt can reach or exceed the warning threshold of about 5% of GDP.
"Suggest" solutions
According to Deputy Prime Minister Nguyen Chi Dung, we don't have much time left, while there is a lot of work to do.
Regarding tasks and solutions, Secretary General of the National Assembly - Head of the National Assembly Office Le Quang Tung said that the National Assembly basically agreed with the tasks and solutions proposed by the Government and the National Assembly agencies, and at the same time requested the Government and relevant agencies to focus on implementing the following 5 main tasks and solutions: promoting the improvement of institutions and laws and improving the effectiveness of law enforcement organization.
Accordingly, the thinking of law-making must be renewed in the direction of "both strict management and development creation", abandoning the thinking of "if you can't manage, then ban"; promoting the method of "management by results", strongly shifting from "pre-inspection" to "post-inspection" associated with strengthening inspection and supervision.
Along with that, creating a favorable environment for investment, production and business, science and technology development, innovation, promoting digital transformation; continuing to perfect the legal framework to promote rapid, healthy and effective development of all types of markets (finance, securities, science and technology, labor, real estate, etc.).
At the same time, urgently implement the laws and resolutions of the National Assembly that have been passed, especially documents on the organization of agencies, ensuring continuous, smooth operations with higher efficiency; perfect regulations on organizational structure, promote decentralization and delegation of power to serve the implementation of the revolution in organizing the apparatus in the direction of streamlining, compactness, strength, efficiency, effectiveness and efficiency.
In addition, focus resources on completing a synchronous and modern strategic infrastructure; clear and effectively use public investment resources; at the same time, focus on reforming administrative procedures, improving the investment and business environment, creating all conditions to quickly resolve investment procedures, difficulties and obstacles in investment and business activities, and encourage investment from all economic sectors.
On the other hand, promote and renew traditional growth drivers; in which, perfect tax and credit mechanisms and policies to support increased purchasing power, stimulate consumption and domestic tourism; at the same time, strongly promote new growth drivers, develop new and advanced production forces.
Proposing solutions, delegate Trinh Xuan An (Dong Nai delegation) said that there are many tasks of a general nature, but there are also immediate solutions. Accordingly, it is necessary to classify, solutions that can be implemented immediately should be prioritized, while long-term solutions should be implemented according to normal procedures.
“To achieve the growth target of 8% or more, it is necessary to increase investment and capital sources. Although we agree with increasing public investment, we need to have targets for private investment,” said Mr. An.
According to Mr. An, private investment is growing at 7-9% and has been on a downward trend recently, therefore, private investment needs to grow at double digits and to do that, credit resources must also be boosted.
Along with that, Mr. Xuan An also agreed with the Government's change in management methods when assigning growth targets to localities, such as: Hanoi and Ho Chi Minh City are assigned growth of 8 - 8.5%. These are the two growth engines, so can the two cities grow by double digits? If the two cities grow by double digits, the national target will be achieved," Mr. Xuan An suggested.
Delegate Nguyen Van Than (Thai Binh delegation), Chairman of the Vietnam Association of Small and Medium Enterprises, suggested that there should be a Resolution regulating the coordination and association between small and medium enterprises and large enterprises, large enterprises with each other and with FDI enterprises.
Projects should not be too concentrated on each other. Projects belonging to the Government should be decided by the Prime Minister, projects belonging to ministries should be decided by the ministries, and projects belonging to provinces should be decided by the provinces. This is to avoid trouble during bidding.
In addition, delegates believe that it is necessary to trust and assign work to private enterprises. Finally, it is necessary to remove bottlenecks in the implementation of projects that violate or are entangled in the law in the spirit of socio-economic development goals.
It is known that immediately after the National Assembly approves this project, the Government will immediately organize a conference with all localities, each locality must grow according to the assigned target.
"With what has been done, this year's GDP growth target will be achieved at over 8%," Deputy Prime Minister Nguyen Chi Dung expressed confidence.
Source: https://doanhnghiepvn.vn/tin-tuc/-hien-ke-de-dat-muc-tieu-tang-truong-gdp-tren-8/20250219102404236
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