8% growth target: Big challenge, high determination

The National Assembly has just approved a GDP growth target of 8% or more in 2025, and the Government has also assigned a GRDP growth target of at least 8% to all localities. This reflects a strong political determination with the aspiration to bring the country into a new era. However, to realize this goal, it requires not only the Government's efforts but also the determination and creativity of each locality.

 

Vietnam is setting a high growth target in a volatile world. Major economies are still facing the risk of recession, geopolitical conflicts are escalating, climate change is severely affecting production, and the global supply chain is not really stable. These factors pose great challenges to the Vietnamese economy, which is highly open and directly affected by the international situation.

 

However, the growth target of 8% or more is not impossible. Over the past years, Vietnam has demonstrated its ability to adapt and recover strongly after the pandemic, maintaining a growth rate among the highest in the region. The important driving force to achieve this goal is public investment, institutional reform, digital transformation and boosting exports.

 

Public investment is considered the “locomotive” that drives the economy forward. In 2025, the Government plans to continue disbursing a record amount of public investment capital, focusing on transport infrastructure, energy, urban areas and industrial zones. Key projects such as the North-South Expressway, Long Thanh Airport, railways and seaports will create growth momentum for the entire economy.

 

In addition, institutional reform remains an urgent requirement. The investment and business environment needs to continue to be improved towards transparency, convenience and reducing barriers for businesses. If solutions are implemented synchronously, the growth target of 8% or more can be completely achieved.

 

As one of the localities assigned the target of GRDP growth of at least 8%, Phu Yen is facing great opportunities but also many challenges. To achieve this goal, the province is synchronously implementing strategic solutions, making the most of available potential and creating new growth drivers.

 

Specifically, the province targets an industry-construction growth of 11.23%, a service sector of 8.02%, and a total export turnover of 375 million USD. The budget revenue is expected to reach 5,900 billion VND, and investment capital for development will be mobilized at about 25,800 billion VND. These targets create momentum for key economic sectors to develop more strongly.

 

Recently, the province has reorganized its apparatus, reducing from 19 to 13 specialized agencies under the Provincial People's Committee; within the specialized agencies, there are 160 remaining focal points, a reduction of 36 focal points. This reorganization helps to streamline the apparatus, save budget and improve the effectiveness of state management, creating favorable conditions for businesses and people.

 

To ensure the growth target in 2025, the province also set out 7 key tasks including: attracting private investment, improving the efficiency of public investment, promoting consumption and tourism, increasing exports, expanding budget revenue sources, supporting credit growth and promoting digital transformation. In particular, the province focuses on applying technology in management and production to improve labor productivity and economic efficiency. At the same time, policies to support businesses and encourage innovation are also strongly implemented to create momentum for the development of the private economic sector...

 

The target of GDP growth of 8% or more is a big challenge, but it is also an opportunity for Vietnam to make a breakthrough. For Phu Yen, this task requires high determination, strategic vision and close coordination between the government, businesses and people. If the solutions are effectively implemented, Phu Yen will not only achieve the target of GRDP growth of 8% in 2025 but can also create a solid foundation for long-term development, contributing positively to the overall development of the country.

 

LE HAO

Source: https://baophuyen.vn/82/326216/muc-tieu-tang-truong-8---thach-thuc-lon-quyet-tam-cao.html