For the first time, the government has issued a resolution specifically addressing the growth targets of industries, sectors, and localities to ensure that GDP growth reaches 8% or more in 2025. This is a step demonstrating the highest level of determination, laying the foundation for achieving double-digit growth in the 2026-2030 period.
The resolution specifies that 2025 is of particular importance—it is the year of acceleration, breakthrough, and achieving goals, marking the final year of implementing the 5-year socio-economic development plan for 2021-2025. It will also witness the reform of public administration, the convening of Party Congresses at all levels leading to the 14th National Party Congress, and the preparation of foundational factors for the country to confidently enter a new era—an era of strong and prosperous national development, aiming to successfully achieve the goals set in the 10-year socio-economic development strategy for 2021-2030.
At the same time, global and regional situations are forecasted to remain complex and unpredictable, with slow, uneven, and unstable global economic recovery, and increasing risks. The Vietnamese economy is expected to maintain a positive growth momentum, with both opportunities and challenges, though the challenges—especially external unfavorable factors and long-standing internal limitations—are likely to be more significant, such as natural disasters, droughts, and saltwater intrusion.
12 Growth Targets for Industries and Sectors:
In this context, to successfully achieve the nationwide growth target of at least 8% in 2025, creating a solid foundation for achieving double-digit growth in 2026-2030, the government has set out several growth targets for industries and sectors. Specifically:
The ratio of public investment mobilization to GDP should reach 16%.
The ratio of development investment expenditure to total public spending should be 31%.
The ratio of regular expenditure to total public spending should be under 60%.
The total social investment capital compared to GDP should reach 33.5%.
The total export turnover growth rate should be 12%.
The trade surplus of goods should reach USD 30 billion.
The industrial production index (IIP) should grow by 9.5%.
The retail sales of goods and consumer services turnover should grow by around 12%.
E-commerce B2C market growth should reach 20-22%.
The percentage of enterprises using e-commerce should be 60-62%.
The total electricity production and import growth rate should be 12.5-13%.
International tourist arrivals should reach 22-23 million, and domestic tourism should reach 120-130 million.
Growth Targets for GRDP of Provinces and Cities:
In addition, Resolution 25/NQ-CP also sets a growth target for the GRDP (Gross Regional Domestic Product) of provinces and cities directly under the central government, with the government aiming for double-digit growth in 18 out of 63 provinces and cities. Specifically:
Red River Delta: 6/11 provinces and cities, including Quảng Ninh (12.0%), Hải Dương (10.2%), Hải Phòng (12.5%), Hà Nam (10.5%), Nam Định (10.5%), Ninh Bình (12.0%).
Northeast and Northwest Region: 2/14 provinces, including Bắc Giang (13.6%) and Điện Biên (10.5%).
Central and Central Highlands: 6/14 provinces, including Thanh Hóa (11.0%), Nghệ An (10.5%), Đà Nẵng (10.0%), Quảng Nam (10.0%), Khánh Hòa (10.0%), Ninh Thuận (13.0%).
Central Highlands: Only one province, Kon Tum.
Southeast Region: 3/6 provinces, including Bình Dương, Đồng Nai, and Bà Rịa – Vũng Tàu (all 10.0%).
Mekong Delta: No province is expected to achieve double-digit growth.
To achieve these goals, the resolution calls for:
Ministers and Heads of Government Agencies: To closely monitor and evaluate the growth targets of industries and sectors. Provincial leaders must focus on implementing the following tasks:
(i) Monitor and fully understand the situation, coordinate efficiently, and implement the proposed measures across various sectors. Ensure unity and cooperation in leadership and management with innovative thinking, determination, and action.
(ii) Rapidly develop monthly and quarterly growth scenarios for each industry, with agencies collaborating on the GRDP growth scenarios for localities, taking into account the GRDP data for 2024.
(iii) Actively implement measures within their powers, and propose solutions for issues beyond their authority for timely resolution.
(iv) Provide monthly and quarterly reports, updating growth scenarios and proposing solutions.
Provincial Governments: Must urgently assess resources, motivations, and new growth drivers, submitting their findings to local People’s Councils by February 2025, and adjusting their GRDP growth targets as needed.
Ministry of Planning and Investment: To lead the monitoring and evaluation of progress, offering recommendations and solutions to the government on a monthly basis.
Ministry of Information and Communications: To coordinate with relevant agencies to widely disseminate the Resolution and ensure its effective implementation.
The government also assigns responsibilities to the Office of the Government to monitor and ensure the resolution is followed through as planned.
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