Deputy Prime Minister Ho Duc Phoc: In 2025, strive for double-digit growth but must be sustainable

On January 7, the 17th Vietnam Economic Scenario Forum - VESF 2025, jointly organized by the Vietnam Economic Science Association, the Vietnam Association of Small and Medium Enterprises (VINASME) and the Vietnam Economic Magazine VnEconomy, took place with a keynote speech by Deputy Prime Minister Ho Duc Phoc.

The Deputy Prime Minister said that 2024 ended with impressive results. Vietnam completed 15/15 socio-economic targets, with a GDP growth rate of 7.09%; the economic scale reached 476.3 billion USD, ranking 33rd in the world. The CPI index reached 3.63%, lower than the 4% level set by the National Assembly.

“In particular, Vietnam's import-export turnover in 2024 will reach about 800 billion USD, with a trade surplus of up to 24 billion USD, breaking all previous records,” the Deputy Prime Minister emphasized.

Regarding budget revenue, Vietnam exceeded the estimate by VND336.5 trillion, reaching a total budget revenue of over VND2,030 trillion, up 19.8% compared to the estimate and 18% compared to the same period last year. Thus, this is the fourth consecutive year that the State budget has exceeded the estimate.

The poverty rate continued to decrease by 1%, bringing the national poverty rate down to 1.93%. The budget deficit remained below 4% of GDP.

Deputy Prime Minister Ho Duc Phoc at the Forum

In the infrastructure sector, Vietnam completed the construction of 2,021 km of expressways in 2024. The target is 3,000 km by 2025 and 5,000 km by 2030. The country is currently preparing for key projects such as the North-South high-speed railway, inter-regional railways, along with a modern seaport and airport system.

Vietnam has also actively implemented solutions to support businesses such as tax, fee and charge exemptions and reductions totaling about VND800 trillion.

Through the above results, Deputy Prime Minister Ho Duc Phoc, on behalf of the Government, expressed his appreciation for the great contributions from the business community, scientists and managers to the country's development over the past years. The Deputy Prime Minister expects this force to continue to accompany and contribute more to building the country in a new era of development, prosperity, rich people and strong country.

Looking to the future, the Vietnamese Government is currently focusing on three strategic breakthroughs according to the Party Congress resolution:

First, on improving institutions and laws. In 2024, many important laws were passed such as the Law on Public Investment, the Law on Planning, the Law on Securities and other important amended laws. The Government will continue to promote reform and improve laws to create bigger and stronger breakthroughs.

Second, infrastructure development. The government plans to allocate VND800 trillion for public investment this year, focusing on key projects such as highways, Long Thanh airport, seaport systems and the North-South high-speed railway.

Third, the State also focuses on energy infrastructure with nuclear power projects, renewable energy and the development of key industrial parks and economic zones.

The Government leader sent the message: “With tireless efforts, Vietnam is moving towards an era of strong and sustainable development.”

Discussing further the breakthroughs that create momentum for economic development, the Deputy Prime Minister emphasized that among Vietnam's three strategic breakthroughs, the breakthrough in human resources has been concretized through Resolution 57 of 2024 of the Politburo. Vietnam is focusing on implementing strong solutions to improve the quality of human resource training, ensuring that it meets the world's high quality standards.

Along with that is the breakthrough in science and technology, especially the ability to master technology. To do this, Vietnam needs a high-quality workforce and effective technology transfer solutions. This is considered the core factor to change the nature of economic growth, towards high-quality, sustainable and strong growth.

In addition, the Deputy Prime Minister said that Vietnam is transforming itself into a green and digital economy. In particular, the digital economy is closely related to fundamental technologies such as artificial intelligence (AI), Internet of Things (IoT), big data, cloud computing and blockchain. These technologies play a key role in improving labor productivity, connecting all areas of economic and social life, from culture, tourism to industry. It is worth noting that in the industrial sector, the operation of high-tech machinery and equipment requires connection and management through artificial intelligence and information technology. Therefore, this is an important foundation to promote rapid economic development and improve labor productivity in Vietnam.

Deputy Prime Minister Ho Duc Phoc said the Government will continue to listen to opinions and perfect economic development solutions, aiming for double-digit growth in 2025 and the following years, but must ensure sustainability.

Source: https://thoibaonganhang.vn/pho-thu-tuong-ho-duc-phoc-nam-2025-phan-dau-tang-truong-hai-con-so-nhung-phai-ben-vung-159677.html