Gov’t outlines five key tasks to achieve 2025 GDP growth target
VGP - The Government has outlined five key tasks to achieve the GDP growth target of 8.3 percent to 8.5 percent this year.
These tasks include boosting overall social investment, stimulating domestic consumption, promoting exports, fostering new growth drivers, and ensuring the smooth and effective operation of the two-tier local administration model nationwide.
In February, the Government set this year's GDP growth target of at least 8 percent. However, it decided to revise up the growth target to 8.3-8.5 percent in August to sustain robust economic momentum amid global uncertainties.
Boosting growth through overall social investment
The Government will focus on disbursing 100 percent of the public investment capital planned for 2025 while mobilizing around VND 1.5 quadrillion in private investment, and attracting over US$18 billion in foreign direct investment (FDI).
The State Bank of Viet Nam is tasked with managing monetary policy proactively and flexibly, supporting interest rate cuts, and channeling credit towards production sectors to drive growth.
Stimulating domestic consumption
Efforts will be made to boost e-commerce growth by over 25 percent, strengthen the "Vietnamese people prioritize using Vietnamese goods" campaign, tighten market management, and combat smuggling and trade fraud.
The tourism sector is expected to welcome 25 million international visitors and 150 million domestic tourists in 2025.
Promoting exports and enhancing trade relations
The Government will maximize the benefits of the existing Free Trade Agreements (FTAs), accelerate negotiations on new FTAs with the Middle East, India, and Africa, and address import-export bottlenecks.
Measures will also be taken to expedite customs clearance, reduce logistics costs, and prioritize agricultural exports.
Fostering new growth drivers
Priority will be given to advancing science and technology, fostering innovation, accelerating digital transformation, and promoting the digital, green, and circular economy.
The Government also plans to develop cultural industries, artificial intelligence (AI), big data, and improve capital market development policies to upgrade Viet Nam's stock market classification.
Ensuring effective and seamless operations of two-tier local governments
The Government will continue streamlining the administrative apparatus to enhance efficiency and effectiveness, accelerate digital transformation in governance, develop a high-quality grassroots-level workforce, and ensure sufficient resources for operating the two-tier local administration model.
Additionally, ministries, sectors, and localities have been instructed to develop detailed growth scenarios for the remaining months of 2025 and submit them to the Ministry of Finance by August 15, 2025. They are also required to proactively address challenges and propose timely solutions to achieve and surpass the assigned targets.
Earlier, Prime Minister Pham Minh Chinh stressed that the growth target is “not impossible” and must be pursued decisively.
The second half of the year offers a seasonal advantage, with heightened domestic and international demand expected during the year-end shopping period. The government is working to ensure these trends are translated into real economic gains./.
