The Government's strong determination, synchronous solutions and positive signals from the export market, FDI resources... are bright colors that create favorable momentum for Vietnam's economy to accelerate in 2025. This is a year of special importance because it concludes the 5-year plan 2021-2025 to be ready to enter a new era of the country.
Southeast Asia's "Growing Star"
In 2024, the Vietnamese economy demonstrated its outstanding strength by achieving and exceeding all 15/15 socio-economic targets. Of which, the economic growth for the whole year is estimated at over 7%, exceeding the target set by the National Assembly of 6-6.5%, belonging to the group of few countries with high growth rates in the region and the world.
Notably, with a growth rate of over 7% in 2024, Vietnam's economy has exceeded all previous forecasts from international financial institutions.
In its 2024 macroeconomic outlook report, HSBC called Vietnam a "growth star" in Southeast Asia. The 7% figure is the highest growth rate among the six largest economies in Southeast Asia (along with Indonesia, Malaysia, the Philippines, Singapore and Thailand).
In the 2024 summary report, the Ministry of Planning and Investment affirmed that our country's economy had an impressive year of growth, not only reflecting the stability of the economy but also showing Vietnam's resilience to global fluctuations.
"Vietnam continues to be a bright spot in the not-so-bright picture of the world economy," Minister of Planning and Investment Nguyen Tri Dung affirmed.
Specifically, exports continue to be the main driving force for economic growth, with the total value of imports and exports of goods in 2024 estimated at 782.33 billion USD, the highest ever. The country recorded a trade surplus of 23.53 billion USD.
Vietnam continues to be an attractive destination for foreign direct investment (FDI) flows, with total FDI attraction in the first 11 months of 2024 estimated at nearly 31.4 billion USD; realized FDI capital is estimated at about 21.7 billion USD, up 7.1% over the same period.
High goals and determination of the Government
The year 2025 is of particular importance to the Vietnamese economy as it will conclude the 2021-2025 five-year plan. This is the time to evaluate the results of the implementation of the set goals, while creating momentum for the next development phase.
Female workers at Samsung
The National Assembly has assigned the Government a growth target of about 6.5-7% in 2025, striving to reach 7-7.5%. However, at the National Conference summarizing Resolution No. 18, Prime Minister Pham Minh Chinh set an ambitious target of GDP growth of over 8% in 2025, opening a roadmap for a period of strong double-digit growth breakthrough in the 2026-2030 period.
The Government leader admitted that the double-digit growth target is a challenge. However, this will create a premise for a breakthrough in the 2026-2030 period, so that the country can enter a new era - the era of national development.
"Ministries, sectors and localities must be determined to complete the set goals," the Prime Minister emphasized that each unit must be "a pioneer nucleus to unleash all potentials to bring the country forward."
To achieve the above goals, the Government has set out a series of important tasks for 2025 such as maintaining macroeconomic stability and controlling inflation at below 4%; maintaining credit growth above 15% with capital flows directed to priority areas, production and business, etc.
Localities are assigned a target of GRDP (gross regional product) growth of at least 8-10%, in which growth pole areas such as Hanoi, Ho Chi Minh City, or key economic regions need to set higher targets to affirm their leading role.
The Prime Minister also directed that disbursement of public investment capital, especially key national projects, will be accelerated from the beginning of 2025. Budget revenue is expected to be about 10% higher than in 2024 and regular expenditures will be thoroughly saved.
In particular, the source of increased state budget revenue in 2024 will be prioritized for the North-South expressway projects in the East and a number of other projects in need next year.
In addition, the Government also aims to strongly develop the financial and capital markets to mobilize resources for the economy, including striving to upgrade the stock market. Continue to remove difficulties and legal obstacles for the real estate market.
Many good signals for the female labor market
With impressive results in 2024 and the Government's strong determination, experts are optimistic about Vietnam's ability to maintain strong economic growth momentum in 2025.
At the Vietnam Economic Pulse 2024 forum, when commenting on Vietnam's economic prospects in 2025, Mr. Nguyen Huu Tho, Head of the Economic Analysis and Forecast Department of the Central Institute for Economic Management (CIEM), Ministry of Planning and Investment, predicted that the business sector will prosper because orders in 2024 are very good compared to 2023. Continuing this momentum, production and business activities of enterprises will be better.
Regarding attracting resources from FDI, the trend of FDI flows to ASEAN and Asia will continue in 2025. The domestic market in 2025 is expected to have little change in purchasing power because Vietnamese people's income has not made a breakthrough.
The number of international visitors to Vietnam is expected to increase sharply, but the increase will not be consistent with the contribution to GDP growth. The export market in 2025 is forecast to continue to grow quite well as this year.
In addition, the development of transport infrastructure, digital infrastructure, institutional reform, etc. continue to be identified as bright spots in Vietnam's economic growth picture in 2025.
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Dr. Can Van Luc, member of the National Financial and Monetary Policy Advisory Council, commented that in 2025, Vietnam's economy will have positive factors such as monetary policy actively supporting production and business activities with credit growth reaching about 12.5% by the end of November 2024.
In the context of increasing deposit interest rates, lending interest rates have still decreased by 1% since the beginning of the year, which is an advantage and supports economic recovery.
Prof. Dr. Hoang Van Cuong, member of the National Assembly's Finance and Budget Committee, shared that Vietnam is returning to a period of strong growth like the years 2016 - 2019. Besides the driving force from foreign investment capital flows and effective exploitation of FTAs, recently passed draft laws will also remove bottlenecks, creating momentum for development.
Vietnam is among the countries with the highest female labor force participation rates in the world, with female labor force participation rate at 72% of total working-age women.
It can be seen that in the economic growth drivers in 2025, the female workforce plays an important role when FDI enterprises, export sectors (textiles, footwear, etc.), agriculture, forestry and fishery have a fairly high female labor structure.
Sharing about the market outlook for 2025, Mr. Cao Huu Hieu, General Director of Vietnam Textile and Garment Group (Vinatex) - a unit with a large number of female workers - said that currently many member enterprises have enough orders until the end of the first quarter of 2025, with some units having orders until May 2025.
Vinatex forecasts that Vietnam's export turnover in 2025 will grow by 5%-6% compared to 2024, equivalent to 45.5 - 46 billion USD.
Similarly, in a field with a large female workforce, agricultural exports have been higher year after year for many consecutive years. The Ministry of Agriculture and Rural Development said that it has continued to approve the coffee replanting project for the 2021-2025 period.
The goal for the 2021 - 2025 period is to replant and graft nearly 110,000 hectares, with export turnover expected to grow by 12%. Regarding Vietnamese fruit and vegetable exports, the Vietnam Fruit and Vegetable Association predicts that the industry will bring in about 8 billion USD. Regarding seafood, in 2025, the Vietnam Association of Seafood Processors and Exporters sets a prospect of 11 - 12 billion USD...
The latest forecast from the International Monetary Fund (IMF) shows that Vietnam's economy will reach a scale of 506 billion USD by 2025, rising to 33rd place in the world. According to data from the Center for Independent Economic Analysis and Forecasting (CEBR), Vietnam's GDP in 2024 exceeded the 450 billion USD mark, up 1 place compared to 2023 to 34th place in the world. CEBR believes that Vietnam's economy will continue to maintain a strong growth rate in the coming years, with an average annual growth rate of 5.8% for the period 2025-2029.
Source: https://pnvnweb.dev.cnnd.vn/trien-vong-kinh-te-viet-nam-2025-nhieu-gam-mau-sang-tao-da-can-dich-20241231212257299.htm
![[Photo] Prime Minister Pham Minh Chinh chairs Government Conference with localities on economic growth](https://vstatic.vietnam.vn/vietnam/resource/IMAGE/2025/2/21/f34583484f2643a2a2b72168a0d64baa)
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