Many opportunities for Vietnam to achieve 8% growth by 2025

According to Dr. Luong Van Khoi - Deputy Director of CIEM, Vietnam has many opportunities to achieve the growth target of 8% in 2025.

Speaking to reporters of the Industry and Trade Newspaper, Dr. Luong Van Khoi - Deputy Director of the Central Institute for Economic Management - CIEM (Ministry of Planning and Investment) said that with efforts in implementing innovation, digital transformation, improving the business investment environment, streamlining the apparatus... Vietnam has many opportunities to achieve the GDP growth target of 8% in 2025.

Dr. Luong Van Khoi - Deputy Director of the Central Institute for Economic Management (CIEM). Photo HA

- Vietnam's economy in 2024 ended with a GDP growth rate of 7.09%, higher than the set target. How do you evaluate this result?

Dr. Luong Van Khoi: Vietnam's economy in 2024 will have many breakthroughs, with GDP growth higher than forecast and inflation control reaching the set target. To achieve the above results, we must first mention the drastic management of the Party, State and Government. The Government has held regular monthly meetings to issue resolutions to remove difficulties for businesses and is determined to disburse public investment capital.

In addition to the Government's direction and management, economic growth in 2024 is also supported by the strong increase in world demand for Vietnamese goods. Although the world economy in 2024 has many fluctuations, Vietnam's economic growth still achieved amazing results, foreign direct investment (FDI) flows into Vietnam are stable and disbursed FDI capital has increased sharply.

Although the Vietnamese business community is facing difficulties, the rate of businesses withdrawing from the market has shown signs of decreasing in the last months of the year. In particular, looking at the total social investment capital, there are also positive signals, with private sector investment accounting for a large proportion. In addition, Vietnam is also implementing innovation, digital transformation, and green transformation very strongly from the central to local levels. These are important factors, stimulating economic growth in 2024 and the following years.

- In your opinion, what are the opportunities for Vietnam to achieve the GDP growth target of 8% in 2025 ?

Dr. Luong Van Khoi: The GDP growth target of 8% by 2025 has many opportunities. Firstly, the export market still tends to increase strongly, because Vietnam has signed 16 Free Trade Agreements (FTAs), including major new-generation FTAs ​​such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP); the Vietnam - EU Free Trade Agreement (EVFTA) and the Regional Comprehensive Economic Partnership (RCEP). These are markets that Vietnam has exploited well, effectively and contributed to trade growth in recent times.

Another opportunity to support Vietnam's economic growth in 2025 is that Donald Trump will have a second term as US President. Donald Trump's inauguration will bring new policies that will affect Vietnam's economic growth. However, there are also policies that promise to bring opportunities for Vietnam's economic growth, opening up opportunities for Vietnam to attract more foreign investment, especially in areas such as semiconductor industry, high technology, etc.

The investment and business environment continues to improve, opening up opportunities for Vietnam to attract FDI. Illustrative photo

In addition, the recent active digital transformation activities of the Politburo and the Government will also contribute greatly to economic growth in 2025. According to calculations, if the 4th Industrial Revolution and digital transformation are well implemented, Vietnam's economy could increase by 54 billion USD by 2030.

With the Government's drastic policies, the business investment environment will continue to improve in 2025 and the following years, the private investment sector will develop strongly and investment capital will increase more strongly. In 2025, there will also be many public investment projects related to infrastructure, regional connectivity, North-South connectivity or large projects. Typically, the project to consider developing nuclear power and many power projects have been implemented and put into operation in 2024, creating resources to meet electricity needs.

In addition, Vietnam also invested in Long Thanh airport, so the synchronous aviation and road infrastructure system will create connections between regions, areas, provinces and cities and create industrial belts and a very large volume of goods circulation. In particular, in 2025 and the following years, 63 provinces and cities across the country will simultaneously implement socio-economic development planning, this planning is based on the socio-economic development potential of provinces and cities, in addition to the development of economic locomotives such as Ho Chi Minh City, Hanoi ... will open up opportunities for Vietnam's economy to develop.

- To minimize the impacts of the US President's new policies in the coming time, what should Vietnam pay attention to, sir?

Dr. Luong Van Khoi: It can be said that the US President's future policies are still unknown and are of interest to the whole world. These policies will more or less impact Vietnam's economy, because the US is currently Vietnam's largest export market, with a large trade surplus, so Mr. Donald Trump's policy will impose taxes on countries with trade surpluses with the US, Vietnam is one of those countries. To minimize the impacts, Vietnam needs to ensure balance so that Vietnam can import goods from the US.

Another content is that, during the US presidential election campaign, Mr. Donald Trump promised to withdraw from the Paris Agreement on climate, if he does this, it will have many impacts, including Vietnam's Net Zero commitment by 2050. Therefore, international support for investments related to a fair energy transition will have a great impact, and will also impact Vietnam's economic growth...

Thank you!

Source: https://congthuong.vn/nhieu-co-hoi-de-viet-nam-dat-tang-truong-8-nam-2025-369396.html