HCMC – The Government has proposed increasing Vietnam’s GDP growth target for 2025 from 6.5-7% to at least 8%, with per capita GDP surpassing US$5,000. This move aims to lay the foundation for double-digit growth from 2026 onward.
The National Assembly (NA) Standing Committee reviewed the proposal on February 10, according to the Vietnam News Agency.
Presenting the proposal, Minister of Planning and Investment Nguyen Chi Dung stated that the revised target exceeds the National Assembly’s goal set during its 8th session in late 2024.
The Government aims for Vietnam’s GDP to exceed US$500 billion in 2025, with an average consumer price index (CPI) increase of 4.5-5%.
The proposal outlines sector-specific growth targets, with at least 9.5% for industry and construction, 8.1% for services, and 3.9% for agriculture, forestry, and fisheries.
These targets are 0.7-1.3 percentage points higher than in 2024, with the manufacturing sector expected to be the primary growth driver.
Vu Hong Thanh, chairman of the NA Economic Committee, threw his support behind the 2025 growth targets, noting that the proposal reflects the Government’s commitment to achieving the 2021-2025 socio-economic development goals.
However, the committee highlighted challenges in early 2025, with production and business activity showing little improvement. The Index of Industrial Production (IIP) in January 2025 rose by only 0.6% year-on-year, while the Purchasing Managers’ Index (PMI) remained below 50 for two consecutive months, indicating a contraction.
The Government has been urged to carefully assess implementation feasibility, focusing on financial security, public debt safety, and labor productivity growth, which is closely tied to GDP expansion.
The NA Standing Committee has agreed to submit the Government’s proposal for further consideration at the 9th extraordinary session of the legislature.
