Forum looks to drive Vietnam’s rapid and sustainable growth
Economists, both domestic and foreign, have noted Vietnam’s ability to maintain strong momentum, with ambitions to hit 8% growth in 2025 and 10% or more annually from 2026 to 2030.
Deputy Prime Minister Nguyen Chi Dung speaks at the forum. (Photo: VNA)
Hanoi (VNA) - The Vietnam Economic Growth𝓡 Forum 2025 (VEGF) provided a ꧂platform for government agencies, business community and experts to contribute ideas to help the country realise its target of rapid and sustainable growth, said Secretary of the Party Central Committee and Chairman of its Commission for Policies and Strategies Tran Luu Quang.
The event was co-hosted by the Vietnam Economic Association, the Vietnam Association of Small and Medium Enterprises, and the Vietnam Economic Times in Hanoi on July 8.
In the context of a volatile global economy, Vietnam has set an ambitious growth target: GDP growth of 8% in 2025 and exceeding the double-digit mark (10% or more) in the period of 2026 - 2030. This is a landmark goal, requiring close and synchronous coordination between the Government, ministries, sectors, local authorities and especially the business community.
As traditional growth drivers such as resource exploitation, public investment, cheap labour or processing exports gradually decline in efficiency and sustainability, the Vietnamese economy faces the inevitable need to find new breakthrough drivers.
In his keynote speech, Deputy Prime Minister Nguyen Chi Dung hailed Vietnam’s 7.52% economic growth in the first half of 2025, the highest in 15 years, as a testament to its resilience amid global challenges. Economists, both domestic and foreign, have noted Vietnam’s ability to maintain strong momentum, with ambitions to hit 8% growth in 2025 and 10% or more annually from 2026 to 2030.
To achieve these targets, Dung outlined a sweeping agenda centred on legal and institutional reforms to enhance transparency, stability, and alignment with international standards. He called for urgent revisions to laws governing land, minerals, and planning, and immediate action to revive 2,887 stalled projects, which tie up over 235 billion USD in capital and 347,000 ha of land, to unlock resources for development.
Public investment, Dung stressed, must act as a catalyst to raise private capital, with a focus on modernising infrastructure, accelerating national projects, optimising energy systems, and promoting renewable and new energy sources tailored to each stage of development. He advocated leveraging new growth spaces through administrative reforms, including merging localities and adopting a two-tier local administration model, while tapping into sci-tech, innovation, digital transformation, artificial intelligence, semiconductors, and quantum technology.
The Deputy PM also championed new economic models, including free trade zones and financial centres paired with quality workforce training and global talent networks.
“These are key drivers to restructure the economy, establish a new growth model, and push for rapid and sustainable development based on science, technology, innovation and digital transformation, thereby delivering breakthroughs in the new era of growth,” said Dung.
In parallel with attracting major strategic investment projects, he also called for progress in international integration in the current context.
Delegates at the event (Photo: VNA)
"This means domestic resources must be the foundation, while external resources should supplement and support development," he explained, adding that the integration process must ensure national independence, resilience and adaptability in the face of global disruptions.
The vision of a prosperous and powerful Vietnam would require joint efforts from the public as well as the private sector, in order to make the nation a safe, attractive destination and a regional and global hub for manufacturing, services and innovation, said the Deputy PM.
According to the organisers, the VEGF is expected to become an annual event with plenary and thematic sessions, aiming to bridge policymakers and key stakeholders, and foster stronger alignment between government policies and business practices./.
By June 2025, Vietnam's total credit had reached over 17.2 quadrillion VND (658.43 billion USD), up 9.9% from end-2024 and 19.32% year-on-year—the highest growth rate since 2023—signalling strong recovery in manufacturing, agriculture, and supporting sectors.
Prime Minister Pham Minh Chinh called for an 11–12% year-on-year increase in total social investment. Meanwhile, greater efforts are needed to fully disburse public investment by December 31. Substandard housing for people with meritorious service must be eradicated by July 27, with nationwide completion slated for August 30.
Vietnam has recently issued a lot of strategic policies and mechanisms, which are expected to help it continue pursuing the economic growth target of at least 8% this year, in the context that the country is accelerating institutional reform and streamlining its organisational apparatus.
Amid global economic uncertainty, Vietnam is recognised as an attractive destination for foreign investment, buoyed by macroeconomic stability, bold reforms, and a business-friendly climate, heard at the Techcombank Investment Summit in Hanoi on July 9.
Tran Luu Quang, Chairman of the Party Central Committee’s Commission for Policies and Strategies, praised AES’s investment performance in Vietnam in recent years and welcomed its long-term commitment, particularly in the field of green and clean energy that supports the country's development and energy transition.
Over the past three decades, Vietnam Airlines has operated 1.2 million round-trip flights, covering 3.04 billion kilometres, and serving 350 million passengers with an average annual growth of 19%.
Attracting major investors will bring in capital, advanced technology, and modern management expertise, helping to develop key industries, generate jobs, and promote local development, said a leader of the Van Phong Economic Zone.
New regulations on taxes and fees for e-commerce platforms have officially taken effect from July, requiring sellers to quickly adapt by implementing three key measures to safeguard profits and maintain competitiveness.
As head of the steering committee, PM Chinh reiterated the strategic direction outlined in the 13th National Party Congress, which emphasises the need to continue three strategic breakthroughs, with priority given to railway development and starting work on several sections of the North–South high-speed railway, improving transport connectivity with economic zones, industrial parks, seaports, and airports, and accelerating the pace of urban railway projects in Hanoi and Ho Chi Minh City.
Vietnam is playing a growing role in the US’s global supply chains while American businesses have contributed significantly to Vietnam’s economic transformation and development, according to Minister of Industry and Trade Nguyen Hong Dien.
Deputy Minister of Finance Nguyen Duc Chi said the upgrade would open doors for global funds eyeing exposure to one of Asia’s fastest-growing economies.
In addition to their own efforts, businesses and industries are calling for stronger policy assistance to accelerate green transition, expand market access, and boost long-term competitiveness.
Coming to the 2025 Korea Import Fair (KIF), Vietnamese firms are not only seeking buyers but also looking to gain deeper insights into consumer preferences and connect with strategic partners.
On a global scale, verification and traceability are among the top criteria that businesses must maintain to ensure credibility, enhance competitiveness and meet stringent international trade standards.
The conflicts have caused serious disruptions to Israel’s external supply chains, leading to greater demand for a wide range of imported goods. As a result, Israeli enterprises are intensifying efforts to diversify sources of supply, including from Vietnam, to meet domestic consumption needs.
Scandals involving counterfeit goods, unsafe food and substandard pharmaceuticals not only cause economic losses but also erode public trust. On a global scale, verification and traceability are among the top criteria that businesses must maintain to ensure credibility, enhance competitiveness and meet stringent international trade standards.
Vietnam has so far mobilised more than 7 billion USD for its just energy transition agenda under the Political Declaration on the Just Energy Transition Partnership (JETP).
The dialogue offered Japanese businesses an opportunity to gain the most updated insights into Vietnam’s socio-economic landscape as well as its new policies, and to exchange views on potential future collaboration in various sectors.
The SBV has proactively assigned credit growth limits to credit institutions this year, and set an annual credit growth of 16% for 2025, with room for flexible adjustments depending on market conditions.
