Gov’t urges localities to strive for at least 10% GRDP growth rate in 2026

The Government has issued Resolution No. 01/2026/NQ-CP on key tasks and solutions to implement the socio-economic development plan for 2026.

The Government has requested ministries, sectors, and localities to focus on economic management, maintain macroeconomic stability, control inflation, and ensure major economic balances.

Provinces and centrally governed cities are tasked with reviewing and developing quarterly GRDP growth scenarios. Ministries and sectors are also required to formulate separate growth scenarios for each field under their management. These scenarios must be reported to the Ministry of Finance in February for consolidation and monitoring.

Under the Resolution, the Government emphasizes the need to renew thinking, governance, and resource allocation, and to combine solutions to transform the growth model. Science and technology, innovation, and digital transformation are identified as the key driving forces, together with all economic sectors, to mobilize resources for development.

The Government also stresses the need to tighten discipline and administration order, improve institutions in parallel with promoting decentralization and delegation of authority, uphold the responsibility of heads of agencies, and intensify efforts to combat corruption and wastefulness.

Ministries and sectors are required to continue cutting administrative procedures, improving the business environment, and accelerating investment in strategic infrastructure, including transport and energy.

Viet Nam’s GDP grew 8.02 percent in 2025, the second-highest rate in the 2011–2025 period, driven mainly by momentum from services and industrial production, the National Statistics Office reported.

With this figure, Viet Nam becomes the fastest-growing economy in Southeast Asia and in the world. This is a hard-won achievement amid amid continued global volatility, particularly trade tensions and the U.S. reciprocal tax policy.

The average annual GDP growth during 2021–2025 is estimated at around 6.3 percent, slightly higher than the 6.2 percent recorded in the previous five-year term.

In 2025, Viet Nam's GDP reached US$514 billion, up US$38 billion compared to the previous year. GDP per capita is estimated at US$5,026, an increase of US$326 from 2024 (US$4,700), pushing Viet Nam into the upper-middle-income country group./.