HCMC – Prime Minister Pham Minh Chinh today, January 26, instructed ministries and agencies to deliver concrete results in macroeconomic management as Vietnam targets double-digit growth while keeping inflation, budget deficits and public debt under control.
He made the request while chairing the second meeting of the Government’s Steering Committee on macroeconomic management, attended by Deputy Prime Minister Ho Duc Phoc, cabinet members and leaders of central agencies.
The committee reviewed economic conditions in 2025, noting heightened global uncertainty from geopolitical tensions and trade policies, alongside severe domestic natural disasters. Despite this, Vietnam recorded inflation of 3.31% and economic growth of 8.02%, reinforcing macroeconomic stability and confidence heading into the next development phase.
Discussions focused on tasks for 2026 and the 2026–2030 period, based on resolutions of the Party Central Committee and the National Assembly. Participants identified 2026 as a pivotal year, marking the start of the five-year socio-economic development plan for 2026–2030.
To implement the resolutions of the 14th National Party Congress, the Government is prioritizing macroeconomic stability, inflation control, and sustained high growth. Ministries were urged to accelerate institutional reforms, remove bottlenecks and mobilize resources for development.
Committee members proposed a new growth model driven by science, technology, innovation and digital transformation. Other priorities include economic restructuring, industrialization, productivity gains, stronger competitiveness and breakthroughs in socio-economic infrastructure.
Concluding the meeting, the prime minister said macroeconomic management during the 2021–2025 period had helped create a foundation for faster and more sustainable growth. He warned that global conditions in 2026 would remain complex and unpredictable.
Domestic priorities for 2026 include macroeconomic stability, inflation control, double-digit growth, management of budget deficits and public debt, and social security, in line with targets set by the Party and the National Assembly.
He ordered ministries to begin implementing the resolution adopted at the 14th National Party Congress from the outset of the new term, stressing that commitments must be matched by effective action and measurable outcomes.
Fiscal policy should remain expansionary but focused, with appropriate tax and fee measures to support growth drivers, according to the prime minister. Measures to increase revenue, save expenditure and prioritize spending on defense, growth engines and social welfare were also outlined.
Monetary policy should remain proactive and flexible, with close coordination between fiscal and monetary tools. Authorities were told to strengthen budget discipline, expand the tax base and prevent tax losses, particularly in e-commerce, food services and retail.
The prime minister also called for measures to stabilize and develop the stock market and corporate bond market, manage interest rates and exchange rates in line with macroeconomic conditions, and maintain currency stability.
Public investment disbursement should be accelerated, especially for large infrastructure projects such as railways, airports and seaports, with a target of full disbursement. Administrative procedures and business conditions should be simplified.
Foreign investment attraction should prioritize large-scale, high-tech projects, including semiconductors, artificial intelligence and digital technology. Long-delayed projects should be resolved in line with conclusions of the Politburo and resolutions of the National Assembly.
Additional priorities include accelerating energy projects, expanding social housing, developing a stable real estate market, restructuring agriculture while ensuring food security, stimulating consumption, controlling prices and combating smuggling, trade fraud and counterfeit goods.
The prime minister also urged stronger trade promotion, export market diversification, green transition across sectors and effective operation of an international financial center in Vietnam.
