On February 12, the National Assembly heard the Submission and Verification Report on the Supplementary Project on Socio-Economic Development in 2025 with a growth target of 8% or more.
At the meeting, Minister of Planning and Investment Nguyen Chi Dung said that the country's GDP growth in 2025 needs to reach 8% or more, contributing to creating a solid foundation to achieve double-digit growth rates for a long enough period (starting from 2026). Growth must be fast but sustainable, maintaining macroeconomic stability, controlling inflation, ensuring major balances; harmonious development between the economy and society and environmental protection, ensuring national defense and security.
Regarding the growth scenario of 8% or more in 2025, according to Mr. Nguyen Chi Dung, the growth of the industrial-construction sector is about 9.5% or more (of which the processing and manufacturing industry increases by 9.7% or more); services increase by 8.1% or more; agriculture, forestry and fishery increase by 3.9% or more). Economic sectors grow about 0.7-1.3% higher than in 2024; industry-construction, especially the processing and manufacturing industry, continues to be the driving force for growth. The GDP scale in 2025 is over 500 billion USD, GDP per capita is over 5,000 USD. Growth drivers: total social investment capital is about 174 billion USD or more, approximately 33.5% of GDP (higher than 3 billion USD), of which public investment is about 36 billion USD (equivalent to 875 trillion VND, 84.3 trillion VND higher than the assigned plan for 2025 of 790.7 trillion VND), private investment is about 96 billion USD, FDI is about 28 billion USD, other investment is about 14 billion USD; total retail sales of goods and consumer service revenue in 2025 increases by about 12% or more; total import-export turnover in 2025 increases by 12% or more; trade surplus is about 30 billion USD. The average consumer price index (CPI) growth rate is about 4.5-5%.
To achieve a growth scenario of 8% or more, Mr. Dung said that new thinking, new ways of doing things, breakthroughs in institutions and solutions are needed; decentralization and decentralization are needed thoroughly. Completing the work of streamlining the organizational apparatus to be lean, effective and efficient, without affecting the people and production and business activities of enterprises in the short term. Promoting the leading role of growth of dynamic regions, economic corridors and growth poles. In particular, GRDP growth of localities in 2025 must be at least 8-10%.
Promote and renew traditional growth drivers of investment, consumption and export; strongly develop science and technology, innovation, digital transformation, and high-quality human resources to become increasingly important drivers and factors promoting growth. If necessary, allow the adjustment of the state budget deficit to about 4-4.5% of GDP to mobilize resources for development investment; public debt, government debt, and foreign debt may reach or exceed the warning threshold of about 5% of GDP.
“In 2025, we must innovate the thinking of law-making in the direction of “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” - the Minister of Planning and Investment said and informed that the Government submitted to the National Assembly for consideration and comments on adjusting a number of key indicators such as: Gross domestic product (GDP) growth rate reaching 8% or more; average consumer price index (CPI) growth rate of about 4.5-5%; if necessary, allow the adjustment of the state budget deficit to about 4-4.5% of GDP to mobilize resources for development investment; public debt, government debt, foreign debt may reach or exceed the warning threshold of about 5% of GDP.
Examining the above issue, Mr. Vu Hong Thanh, Chairman of the National Assembly's Economic Committee, said that the Economic Committee basically agrees with the targets, requirements, and economic growth scenarios for 2025 in the Government's Submission and Report.
Regarding the proposal to adjust the deficit and public debt targets, the Economic Committee believes that this proposal is necessary to mobilize resources for development investment. However, it is recommended to clarify the plan for using the increased deficit and public debt in case of adjustment; at the same time, effectively use resources, strictly implement the provisions of the law on state budget, the law on public debt management; resolutely manage to ensure the deficit and public debt are within the scope decided by the National Assembly in Resolution No. 23/2021/QH15 and Resolution No. 159/2024/QH15, only adjust when all solutions have been implemented and public debt safety and debt repayment capacity are ensured, especially the debt repayment obligation target of the Government compared to total budget revenue.
The Economic Committee also believes that in order to successfully achieve the GDP growth target of 8% or more in 2025, it is necessary to continue to focus on implementing Conclusion No. 97-KL/TW dated October 5, 2024 of the Party Central Committee on socio-economic development in 2024-2025, which has been specifically institutionalized in Resolution No. 158/2024/QH15 of the National Assembly. In particular, it is necessary to resolutely and effectively implement Conclusion No. 123-KL/TW of the Central Committee and have appropriate management solutions depending on the actual situation.
Mr. Thanh also emphasized a number of tasks and solutions such as: Closely following the growth target and Conclusion No. 123-KL/TW of the Central Committee to specifically determine the roadmap and responsibility for drafting and submitting to the National Assembly laws and resolutions of the National Assembly, ensuring a legal corridor for achieving the growth target in 2025 and the following years.
Closely monitor the developments in the world economic and political situation, correctly assess the situation, and promptly respond to policies. Continue to strengthen internal capacity, determined to achieve growth targets while maintaining the foundation for sustainable and long-term development, especially macroeconomic stability, major economic balances, ensuring social security, national defense and security.
There are specific solutions, attaching responsibility for implementation to innovate public investment management. Focus on cutting and simplifying administrative procedures; substantially cutting down the time for carrying out administrative procedures, investment procedures, and business procedures to support enterprises; there are breakthrough solutions for startups, creating sustainable jobs, and formal jobs.
In addition, properly implement the Party's policies, ensure the effectiveness of streamlining and rearranging the organization and apparatus; do not interrupt work or affect people, production and business activities of enterprises and pay attention to the issue of increasing labor productivity and social security policies. Have substantive and effective mechanisms and policies to protect, encourage and reward cadres who dare to innovate, dare to think, dare to do, dare to take responsibility for the common good, not for personal gain.
Source: https://daidoanket.vn/tang-truong-grdp-cac-dia-phuong-toi-thieu-phai-o-muc-8-10-10299751.html
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