Viet Nam strives for GDP growth of at least 10% in 2026
VGP - Viet Nam aims to achieve an ambitious gross domestic product (GDP) growth rate of at least 10 percent in 2026 while GDP per capita is expected to reach US$5,400–5,500, Prime Minister Pham Minh Chinh told legislators on Monday.
Prime Minister Pham Minh Chinh presents a report on Government's performance in the 2021-2025 period and major tasks in the next five years at the 10th session of the 15th National Assembly, Ha Noi, October 20, 2025 - Photo: VGP/Nhat Bac
Major objectives set for 2026
The Government will keep the average consumer price index (CPI) growth rate at about 4.5 percent, the average social labor productivity growth at around 8 percent while reducing the multidimensional poverty rate by approximately 1–1.5 percent per, said Pham.
Pham emphasized that the overarching goal for 2026 is to promote growth, maintain macroeconomic stability, control inflation, and ensure major economic balances. At the same time, Viet Nam will focus on enhancing strategic autonomy, restructuring the economy, innovating its development model, and accelerating industrialization, modernization, and urbanization.
The Government also aims to build a lean, efficient, and modern administrative system to better serve citizens and businesses, affirmed the Prime Minister.
Party and State leaders and National Assembly deputies at the 10th session of the 15th National Assembly, Ha Noi, October 20, 2025
Primary tasks and solutions
To achieve these goals, Prime Minister Pham underscored the need to continue prioritizing growth while keeping macro-economic balances stable. Public debt and the state budget deficit will be kept within safe limits.
Efforts will be intensified to advance industrialization, modernization, and economic restructuring, alongside the decisive implementation of the Politburo's policies in key sectors. The Government will focus on improving the institutional framework, streamlining the state apparatus, and resolving long-standing stagnant projects.
Investment in strategic infrastructure—including transportation, energy, and digital systems—will remain a top priority, said Pham.
He also highlighted the importance of developing high-quality human resources, promoting cultural development, ensuring social welfare, and improving living standards. Proactive measures will be taken to adapt to climate change, strengthen disaster prevention, and enhance environmental protection and resource management.
At the same time, national defense and security will be consolidated, social order and safety maintained, and diplomatic efforts intensified to safeguard a peaceful, stable, and cooperative environment.
Positive outcomes in the 2021–2025 period
Reviewing outcomes of the 2021–2025 socio-economic development plan, the Prime Minister noted that despite complex global headwinds, including the COVID-19 pandemic, Viet Nam achieved and outperformed 22 out of 26 key targets. All social and social security goals were achieved.
For 2024 and 2025, all 15 socio-economic targets were realized, with GDP growth in 2025 expected to reach over 8 percent. The average growth rate for the 2021–2025 period is 6.3 percent, slightly higher than the 6.2 percent achieved in the previous term.
Viet Nam's effective control of the COVID-19 pandemic has been internationally recognized, while its economy has demonstrated remarkable resilience to external shocks and remained one of the fastest-growing economies in the world.
The Government's three strategic breakthroughs—institutional reform, human resource development, and infrastructure development—have been implemented decisively and effectively, opening new development space and creating lasting momentum.
Science, technology, and innovation have been vigorously promoted, yielding initial positive results, while digital transformation continues to expand across sectors.
Cultural and social development has also advanced, with improved awareness, stronger actions, and tangible outcomes in raising living standards and enhancing governance efficiency.
National defense and security have been strengthened, independence and sovereignty safeguarded, and social order and safety ensured.
Prime Minister Pham described these accomplishments as a source of national pride, fueling the country's drive for continued innovation and sustainable development. "These achievements," he said, "lay the groundwork for rapid, inclusive, and comprehensive growth as Viet Nam confidently enters a new era of development"./.
