The consensus and high determination of the entire political system and the trust of the people and businesses are the core factors for Vietnam to achieve the growth target of over 8% by 2025.
 |
| Vietnam has a series of favorable factors to be able to 'reach the target' of 8% growth. (Photo: Gia Thanh) |
Recently, the Government issued Resolution No. 27/NQ-CP, which prioritizes promoting growth associated with maintaining macroeconomic stability, controlling inflation, ensuring major balances of the economy and having a high surplus, determined to successfully and comprehensively implement the 2025 Socio-Economic Development Plan, striving to achieve the growth target of 8% or more in 2025.
Growth is not only fast but also sustainable
In the context of a challenging global economy, Minister of Planning and Investment Nguyen Chi Dung affirmed the necessity of adjusting the growth target. According to the Minister, the Government has proactively submitted to the Central Government and the National Assembly an adjustment plan to ensure that the economy can take advantage of opportunities and create breakthroughs for stronger development. This demonstrates a strong determination to make a breakthrough in the Vietnamese economy.
At the 15th National Assembly session, Minister Nguyen Chi Dung acknowledged the high consensus from National Assembly deputies on the growth target of over 8% by 2025. According to him, this is a key factor in creating a combined strength, helping the economy overcome difficulties and achieve success.
Regarding the development principles, the Minister emphasized that the Government aims for not only rapid but also sustainable growth. This means not trading off the environment, ensuring social security and maintaining macroeconomic stability, and controlling inflation. "This is a careful consideration, aiming for a harmonious and stable economy in the long term," said the Minister of Planning and Investment.
On that basis, the consensus and high determination of the entire political system and the trust of the people and businesses are the core factors to achieve the growth target of over 8% by 2025.
Of course, success does not only come from consensus, determination and belief. Vietnam has a series of favorable factors to be able to "reach the target" of 8% growth.
Minister Nguyen Chi Dung pointed out that breakthrough new regulations, the promotion of decentralization and delegation of power, along with the effective promotion of 17 Free Trade Agreements (FTAs) are advantages that Vietnam possesses. Not only that, new opportunities from changes in the global investment and trade order are opening up a large development space for the Vietnamese economy.
Meanwhile, according to delegate Le Van Dung, Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee, Head of the National Assembly Delegation of Quang Nam province: "Vietnam has room to achieve the growth target of 8%".
Mr. Dung said that the export of goods has reached the milestone of 400 billion USD, 9 consecutive years of Vietnam's trade surplus. That not only proves Vietnam's position in competition and trade with foreign countries but also has an impact on GDP, increases foreign exchange reserves, and ensures national financial security. Therefore, the room for development of Vietnam's economy is still very large. The important issue is how to revive, unblock and put the country's resources into development.
Sharing with reporters of the World and Vietnam Newspaper , Director General of the General Statistics Office (Ministry of Planning and Investment) Nguyen Thi Huong commented that the positive growth results of the whole year 2024 are an important premise for entering 2025, when the economy is expected to complete the set targets.
Regarding advantages, from the production perspective, Ms. Huong said that the agriculture, forestry and fishery sector is showing a clear growth trend thanks to export momentum, strong application of science and technology and opportunities from FTAs.
| The government aims for growth that is not only fast but also sustainable. This means not trading off the environment, ensuring social security, maintaining macroeconomic stability and controlling inflation. |
The industry is forecast to maintain a growth rate of around 7-9%, with the main driving force coming from exports, public investment and technology transformation.
The service sector also has a good growth trend thanks to the recovery of tourism activities and import and export of goods and services.
"In addition, the policy institutions and business environment are being urgently improved and synchronized. Opportunities to expand the market, participate more deeply in the global supply chain and attract investment when Vietnam actively participates in FTA agreements. Investment in infrastructure and high-tech industry is being strongly oriented and promoted.
The digital transformation and technology process is being strongly deployed in both the state apparatus as well as economic units, which will create new momentum for development," Ms. Nguyen Thi Huong assessed.
 |
| Exports of goods have reached the 400 billion USD mark, Vietnam has had a trade surplus for 9 consecutive years. (Source: Vneconomy) |
The "Key" of Vietnam
Along with the advantages, the country still faces major challenges in the process of achieving the growth target of 8% by 2025.
Minister Nguyen Chi Dung said that the world is changing in a complicated way, especially due to the impacts of US economic policies, trade barriers, and internal economic problems. Issues related to science and technology, human resource quality, and labor productivity are still bottlenecks that need to be resolved. In addition, objective factors such as natural disasters, epidemics, climate change, and population aging also pose many challenges.
To overcome challenges and successfully "reach the finish line", in the coming time, Deputy Minister of Planning and Investment Tran Quoc Phuong said, the country needs to continue to focus on attracting foreign direct investment (FDI).
There are two key points to attract FDI: continuing to remove institutional and legal obstacles to attract this capital flow and immediately implementing policies that the National Assembly has approved (such as implementing the green channel policy to attract large high-tech investment projects in technology parks and industrial parks).
 |
| ChatGPT creates an image that shows the development efforts of the Vietnamese economy in 2025. Modern cities, industries, technology and innovation all contribute to a promising economic picture. (Image created by ChatGPT) |
Regarding attracting domestic private investment, in addition to continuing to improve the business investment environment and increasing the establishment of new enterprises, Deputy Minister Phuong proposed that it is necessary to combine macro solutions, such as removing and unblocking domestic markets such as: real estate, corporate bonds, securities, etc.
In addition to traditional drivers, Deputy Minister Tran Quoc Phuong stated that the country also needs to promote new growth drivers. Currently, Vietnam has a good position in the world technology map, such as artificial intelligence (AI) technology, other high technologies, etc. This is an advantage and opportunity for the country to make a breakthrough in the fields of science, technology, and innovation.
It can be affirmed that the synchronous solutions and drastic actions from the Government, together with the consensus and efforts to transform the entire political system, will be the "key" for Vietnam to realize the growth target of 8% this year - which Minister of Planning and Investment Nguyen Chi Dung expects.
Source: https://baoquocte.vn/tao-suc-manh-tong-hop-dua-kinh-te-viet-nam-but-pha-304584.html
Comment (0)