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Sunday, January 19, 2025

An ambitious growth target

By Le Hoai An (*)

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Vietnam has set an ambitious economic growth target of 8% for 2025, signaling its commitment to a robust recovery after challenges from the Covid-19 pandemic and global economic shifts. However, many experts suggest that current economic indicators do not clearly point toward achieving this goal. What potential factors have been overlooked, and what breakthrough policies are needed to meet this target? The 8% growth target is more than just a number—it reflects a strong Government commitment to economic revitalization and public expectations. Yet, achieving this level of growth will require a coordinated effort across multiple areas, including domestic consumption, public investment, exports, and technological innovation. Challenges persist, stemming from global economic fluctuations, domestic structural issues, and institutional limitations. Addressing these obstacles requires not only targeted solutions but also structural reforms to ensure businesses and society operate more efficiently. A comprehensive analysis of Vietnam’s GDP structure from both the demand and supply sides can offer deeper insights into areas of potential growth and highlight the sectors that need immediate attention. The economic foundation and the 8% growth target Vietnam’s history demonstrates its ability to achieve high economic growth during certain favorable periods. However, the unique conditions that enabled such growth in […]
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