TPO - With the GDP growth target of over 8% in 2025, growth rates in various sectors will also be adjusted accordingly, in which GDP per capita will reach over 5,000 USD, higher than the target previously set by the National Assembly.
TPO - With the GDP growth target of over 8% in 2025, growth rates in various sectors will also be adjusted accordingly, in which GDP per capita will reach over 5,000 USD, higher than the target previously set by the National Assembly.
GDP scale reaches over 500 billion USD
As expected, on February 10, the National Assembly Standing Committee will give its opinion on the addition of socio-economic development in 2025 with a growth target of 8% or more. This figure is much higher than the target decided by the National Assembly at the 8th session held in November 2024, with a GDP growth target of about 6.5 - 7% in 2025.
Before submitting the project to the National Assembly Standing Committee for comments, and then submitting it to the National Assembly for decision at the next extraordinary session, the Economic Committee met to review the Government's submission on this project.
According to the Government's proposal, 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 of time (starting from 2026).
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The National Assembly will consider and decide on the 2025 growth target of 8% or more. |
At a recent regular Government press conference, Mr. Tran Quoc Phuong - Deputy Minister of Planning and Investment (MPI) - emphasized that this goal not only helps to complete economic targets for the entire 5-year period but also creates a solid foundation to enter a new development phase.
“Achieving a growth rate of 8% or more in 2025 will be a premise to aim for a higher growth rate in the following years, with the expectation of reaching double digits, or over 10%,” said Mr. Phuong.
In the growth scenario of 8% or more by 2025, the Government proposes a growth plan for the industrial and construction sector of about 9.5% or more. The service sector will increase by 8.1% or more, while agriculture, forestry and fishery will increase by 3.9% or more.
Economic sectors will grow about 0.7-1.3% higher than in 2024; industry - construction, especially processing and manufacturing industry, will continue to be the driving force for growth.
Along with that, the GDP scale in 2025 will reach over 500 billion USD and GDP per capita will be over 5,000 USD. Meanwhile, the GDP per capita target in 2025 set by the National Assembly at the 8th session is to reach about 4,900 USD.
In this growth scenario of over 8%, the Government expects total social investment capital to be 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, about 84.3 trillion VND higher than the assigned plan for 2025 of 790.7 trillion VND.
Private investment this year is expected to reach about 96 billion USD, FDI about 28 billion USD and other investment about 14 billion USD. Meanwhile, total retail sales of goods and consumer service revenue in 2025 are expected to increase by about 12% or more. The average consumer price index (CPI) growth rate is about 4.5-5%. This figure may be higher than the target previously set by the National Assembly, with an average CPI of about 4.5%.
Internal development is the core
The Government emphasized that the basis and conditions for realizing growth of over 8% include: new thinking, new ways of doing things, and breakthroughs in institutions and solutions; thorough decentralization and delegation of power. At the same time, completing the work of streamlining the apparatus, making it effective and efficient, so as not to affect the people and production and business activities in the short term.
Along with that is promoting the growth-leading role of dynamic regions, economic corridors and growth poles. In particular, the GRDP growth of localities in 2025 will be at least 8-10%, especially Hanoi and Ho Chi Minh City.
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Local growth target in 2025 is at least 8 - 10% (Illustration photo) |
Potential localities and large cities identified as locomotives and growth poles need to strive for a growth rate higher than the national average; there must be appropriate incentive mechanisms for localities with high growth, with central regulation.
Regarding this content, the recently issued Resolution of the Government has assigned a double-digit GRDP growth target to 16 provinces and cities. Of which, Bac Giang was assigned the highest growth target of 13.6%; Ninh Thuan 13%, Hai Phong city 12.5%; Ninh Binh and Quang Ninh 12%; Thanh Hoa 11%... The two major cities, Hanoi, were assigned a target of 8%, and Ho Chi Minh City 8.5%.
If necessary, the state budget deficit can be adjusted to about 4 - 4.5% of GDP to mobilize resources for development investment; public debt, government debt, and foreign debt can reach or exceed the warning threshold of about 5% of GDP.
Agreeing with the proposed goals, some delegates, during the initial review, also suggested that the Government identify specific key contents in institution building. In particular, streamlining the apparatus should be considered an important driving force to promote economic development.
Previously, speaking with Tien Phong reporter , Dr. Bui Duc Thu - former Deputy Head of the Delegation Affairs Committee, under the National Assembly Standing Committee - said that along with the requirement of double-digit growth, it is necessary to ensure stable and sustainable economic development, control inflation, and major balances of the economy. That is the most comprehensive requirement.
According to Mr. Thu, to do this, it is necessary to mobilize all domestic and foreign resources for development investment, in which it is necessary to focus on domestic resources. "Economic growth can be achieved through many ways, but the path of development through internal resources and domestic investors is the core and sustainable thing," said Mr. Thu.
Source: https://tienphong.vn/thong-tin-quan-trong-ve-tang-truong-kinh-te-nam-nay-post1715439.tpo
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