HCMC — The Government has reviewed more than 2,200 delayed projects worth a combined US$235 billion, according to Prime Minister Pham Minh Chinh.
Speaking at the ninth sitting of the 15th National Assembly on May 5, the prime minister presented a supplementary report on Vietnam’s socio-economic performance in 2024 and early 2025. The move is part of broader efforts to reduce wastefulness and boost economic efficiency, he said.
The review covered projects across multiple sectors, including real estate, infrastructure, public investment, and public-private partnerships (PPP), involving a total land area of roughly 347,000 hectares. Among the stalled projects are HCMC’s VND10 trillion flood control project and the second campuses of Viet Duc and Bach Mai hospitals.
Vietnam’s GDP grew 6.93% in the first quarter of 2025, the highest Q1 growth rate since 2020. Inflation remained under control and macroeconomic conditions were stable.
Budget revenue for the first four months reached VND944 trillion. The country posted a trade surplus of over US$5 billion and disbursed US$6.7 billion in foreign direct investment, the highest level in five years for the same period.
All economic sectors posted growth, with manufacturing and processing up 10.1%. Tourism saw 7.7 million international arrivals in the first four months.
Eighty major infrastructure projects were launched or completed, including Terminal T3 at Tan Son Nhat International Airport and five North-South expressway sections.
The Government also reduced the number of ministries to 14 and ministerial-level agencies to three, down from a total of 22. Local governments are being restructured into a two-tier system.
The Government is pushing decentralization and cutting administrative procedures to lower costs for businesses and residents.
