According to the newly passed Resolution, the National Assembly agreed to adjust the target of increasing gross domestic product (GDP) to 8% or more in 2025.
On the morning of February 19, with 463/464 delegates in favor, the National Assembly passed a Resolution on supplementing the 2025 Socio-Economic Development Plan with a growth target of 8% or more.
According to the Resolution, the National Assembly agreed to adjust the GDP growth rate in 2025 to reach 8% or more (compared to the target of 6.5-7% and the initial growth rate of 7-7.5% approved at the session at the end of 2024).
Also according to the newly passed Resolution, the National Assembly agreed to adjust the GDP scale in 2025 to reach over 500 billion USD. GDP per capita is about over 5,000 USD. The average consumer price index (CPI) growth rate is about 4.5 - 5% (compared to the target of 4.5% of the previous session).
"The adjustment of the targets aims to consolidate and prepare 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," the Resolution stated.
Regarding solutions to achieve the above adjustment targets, the National Assembly proposed that the Government innovate its thinking in law-making towards "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.
Create a favorable environment for investment, production and business, scientific and technological development, innovation, and promote digital transformation.
Continue to improve the legal framework to promote rapid, healthy and effective development of all types of markets (finance, securities, science and technology, labor, real estate, etc.). Develop specific policies to develop economic zones with great potential such as Van Don, Van Phong, border economic zones and regions according to the Resolutions of the Politburo.
"Immediately issue strong enough mechanisms and policies, specific and transparent legal regulations to overcome and handle the situation of shirking, evasion, and lack of responsibility in performing public duties," the National Assembly requested.
The National Assembly also requested to focus resources on completing synchronous and modern strategic infrastructure; and to unblock and effectively use public investment resources.
In 2025, basically complete Long Thanh International Airport, Lach Huyen area ports, put into operation Tan Son Nhat T3 and Noi Bai T2 terminals; start construction of Lien Chieu port. Speed up procedures to prepare for investment in strategic and important national transport infrastructure projects.
In addition, it is necessary to thoroughly save expenses; strive to save about 10% more regular expenses in the 2025 budget compared to the 2024 budget and increase the budget revenue in 2024 to invest in the Lao Cai - Hanoi - Hai Phong railway route.
"If necessary, the state budget deficit will be adjusted to about 4 - 4.5% of GDP to mobilize resources for development investment; public debt, government debt, and foreign debt of the country may reach or exceed the warning threshold of about 5% of GDP," the Resolution stated.
Immediately remove bottlenecks in the real estate market
In addition, the National Assembly also requested to immediately remove bottlenecks in the real estate market, capital market, and corporate bond market. Quickly ensure criteria and conditions for upgrading the stock market in 2025. Have a mechanism to effectively exploit indirect investment capital flows and international investment funds.
Manage credit growth appropriately, promptly, and effectively, meeting the capital needs of the economy, ensuring that it is on target, focusing on production and business sectors, priority sectors, and traditional growth drivers such as consumption, investment, and export.
Review and immediately find solutions to handle stuck projects, especially renewable energy, BOT, BT, transportation, real estate and other fields; in the immediate future, build a specific mechanism to focus on removing obstacles for projects in Ho Chi Minh City, Hanoi, Da Nang and some major provinces and cities to free up resources in 2025.
Early completion of investment procedures for Can Gio international seaport. Strongly promote nuclear power and offshore wind power projects; speed up the revision and effective implementation of Power Plan VIII in the new context.
The National Assembly also proposed to strongly promote new growth drivers and develop new and advanced production forces.
In particular, creating breakthroughs in the development of science, technology, innovation and national digital transformation according to Resolution 57-NQ/TW of the Politburo. Promoting green transformation, increasing investment in research and development, promoting emerging industries and fields such as artificial intelligence (AI), big data, cloud computing, optoelectronics, Internet industry, Internet of Things, biomedical industry, new energy, cultural industry, entertainment industry, etc.
Urgently and effectively implement the Project of International Financial Center in Ho Chi Minh City, Regional Financial Center in Da Nang; build free trade zones, border economic zones in some key economic localities such as Da Nang, Ba Ria - Vung Tau, Hai Phong, Quang Ninh, Khanh Hoa, Binh Duong, Dong Nai, etc.
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