Economic Challenge 2025

While the implementation of the 2024 plan targets is almost clear, with GDP growth likely to reach 7%, or even higher if in the last days of December 2024, all levels of industry and businesses make more efforts to accelerate and reach the finish line, the journey to 2025 is a big challenge.

While the implementation of the 2024 plan targets is almost clear, with GDP growth likely to reach 7%, or even higher if in the last days of December 2024, all levels of industry and businesses make more efforts to accelerate and reach the finish line, the journey to 2025 is a big challenge.

The challenge is even greater when the Government and the Prime Minister are determined to achieve an economic growth rate of 8% in 2025, instead of 6.5-7%, striving to reach 7-7.5% as the National Assembly has resolved.

In the context of both the world and domestic economies still facing many difficulties and challenges, and complex global geopolitical fluctuations, this is not an easy problem to solve. There have even been opinions that this goal is "too much". However, as Deputy Minister of Planning and Investment Tran Quoc Phuong recently answered the press, the issue is not whether it is too much or not too much, but once it is set, we must be determined to do it.

Striving to achieve 8% growth in 2025 - the final year of the 2021-2025 Five-Year Plan - is not only for 2025, or for the 2021-2025 five-year period, but more importantly, it is also a preparation step for the 2026-2030 period and beyond, to 2045.

Prime Minister Pham Minh Chinh, at the recent regular Government meeting in November 2024, emphasized the need to complete all 15/15 targets for 2024, including striving for GDP growth in the fourth quarter to reach about 7.5%, and for the whole year of 2024 to reach over 7%; at the same time, maintaining momentum and rhythm to accelerate, break through, striving for a growth rate of about 8% in 2025; creating momentum, creating force, creating a position for the 2026-2030 period to achieve double-digit growth.

Once set, we must be determined to do it. Therefore, in the Draft Resolution No. 01 of the Government on the main tasks and solutions to implement the Socio-Economic Development Plan and the State Budget Estimate for 2025, a series of solutions have been set out. Although this is only an initial draft, it is clear that the Government is determined to bring the economy to a high growth rate of 8% next year.

In fact, there are many grounds to expect that the economy will achieve high growth in 2025. The foundation of 2024 is important. Along with that, there are many new factors with fundamental changes, especially institutional changes, with many bills passed by the National Assembly at the 8th Session of the 15th National Assembly.

The breakthrough thinking of these laws is expected to remove bottlenecks and obstacles in investment and business, thereby freeing up long-standing resources to contribute to economic growth. The fact that these bills take effect from 2025 will create a good "drop point" to stimulate growth in the final year of the 2021-2025 Five-Year Plan, as well as create momentum for the following years.

The streamlining of the apparatus may also be an important driving force for the economy not only in 2025, but more importantly, for the entire development period in the future. It is no coincidence that the Prime Minister directed that from now until the end of the year and the beginning of 2025, three major groups of tasks must be done at the same time, including many difficult, complicated, and sensitive tasks. That is, focusing on accelerating, breaking through, and reaching the finish line in 2024; focusing on arranging a streamlined, effective, and efficient apparatus associated with restructuring and improving the quality of the staff, civil servants, and public employees; summarizing the work in 2024 and developing an action plan for 2025.

The Prime Minister also emphasized the need to boldly build far-sighted policies, think big, and act big. These are extremely important foundations for the economy to expect to achieve the 8% growth target next year, even though it will be a year full of difficulties and challenges.

Source: https://baodautu.vn/thach-thuc-kinh-te-2025-d232133.html