HCMC – Vietnam’s National Assembly (NA) has approved key economic targets for 2025, with GDP growth set at 6.5% to 7%, or even 7-7.5%.
On November 12, the legislature passed a resolution for the 2025 socio-economic development plan, with 424 out of 426 deputies voting in favor.
The plan marks 2025 as a year for acceleration and breakthroughs, aiming for high achievements within Vietnam’s five-year strategy.
Key objectives include a GDP growth rate of 6.5-7%, with efforts to achieve 7-7.5%. Vietnam also aims for GDP per capita of around US$4,900, with the processing and manufacturing sector contributing about 24.1% to GDP, and a consumer price index (CPI) increase of around 4.5%.
Additional targets include a 5.3-5.4% rise in labor productivity, reducing the agricultural workforce to 25-26%, achieving a 70% rate of trained workers, and maintaining an urban unemployment rate below 4%.
The National Assembly Standing Committee highlighted that these targets were carefully formulated, grounded in scientific analysis, and adapted to the current economic context to support the successful execution of the five-year development plan.
Based on 2024’s achievements and planned solutions, the GDP growth target of 6.5-7% (and possibly up to 7.5%) is considered feasible.
The Government and related agencies are called on to reform legislative approaches to ensure effective regulation, promoting creativity and efficiency. At various government levels, responsibilities must be clearly defined to prevent blame-shifting and eliminate the “ask-and-give” mechanism.
The NA resolution also aims to initiate construction on the Lao Cai-Hanoi-Haiphong railway line in 2025 and accelerate progress on other railway projects, including Lang Son-Hanoi, Mong Cai-Halong-Haiphong, and the North-South high-speed railway.
