On February 21, 2025, during the Government Conference, Prime Minister Phạm Minh Chính reaffirmed the Vietnamese government’s ambitious goal of achieving at least 8% GDP growth by 2025. This commitment was framed under the motto "Only work, don’t rewind," reflecting the unwavering determination of the Communist Party, the Government, the National Assembly, and citizens alike to push forward and not retreat.
The meeting provided insights on Vietnam’s strategies aimed at establishing stable macroeconomic conditions, controlling inflation, and enhancing the living standards of its people. PM Chính emphasized the necessity of tackling administrative reforms, expediting investment processes, and overcoming obstacles facing local businesses to enact these goals effectively.
According to the Ministry of Planning and Investment, specific economic growth targets set for key cities include Ho Chi Minh City aiming for 10% growth and Quảng Ninh targeting 14%, illustrating the government’s upsized expectations for regional contributions to the national economy.
To achieve these ambitious goals, significant emphasis was placed on the urgency of efficiently managing public investment, particularly through the immediate disbursement of funds, which the government has identified as politically pivotal. A clear action plan was laid out, identifying 12 main objectives across various sectors for 2025.
During the conference, provincial leaders voiced their commitment to exceed these targets, highlighting the cooperative spirit between local and central governments to adapt proactively to challenges. Prime Minister Chính urged all regional leaders to appoint clear responsibilities within their administrations to facilitate quick decision-making and effective execution.
"We have enough confidence, enough conditions, and enough capability to achieve the breakthrough growth," PM Chính stated, bolstering optimism about Vietnam's economic potential as it emerges from the difficulties posed by the pandemic and other global challenges. He indicated the importance of innovation and technology as central components driving this growth moving forward.
One core component of this strategy is to support the private sector by dismantling prejudices against domestic companies and enabling them to thrive. The government aims to create favorable environments for foreign experts and develop human resources, ensuring the country keeps pace with global standards.
The Prime Minister elaborated on leveraging the opportunities from the series of free trade agreements (FTTs) Vietnam has signed over recent years, which are pivotal for market expansion and diversification, enhancing competitiveness among local businesses.
He added, “Our resources come from innovative thinking, and our strength is derived from our people,” linking economic success to human capital and collaborative spirit among citizens and business sectors.
Nevertheless, the PM cautioned against complacency, urging all sectors to remain proactive, flexible, and coordinated, to address the diverse challenges posed by both opportunities and obstacles as they pursue the 8% growth target.
"The tasks we face are considerable and noble, demanding responsibility to our history, to the Party, the State, and the people for the development of our nation," PM Chính stated, underscoring the urgency for rigorous implementation of framed policies and growth strategies.
To this end, the conference resulted not only in establishing clear goals but also cast light on pathways to cooperation across various governmental levels. Decision-makers are urged to prioritize efficient resource mobilization, with modernization efforts focusing on infrastructure projects such as high-speed rail, renewable energy initiatives, and improvements to national transport networks.
Mr. Chính reiterated the sentiment requiring all administrative, governmental, and citizens to partner decisively, harmonizing their efforts under unified action plans aligned with national economic objectives.
By linking substantial public investment to societal advancement, the PM also targeted enhanced living conditions, promising to tackle temporary housing issues and improve public welfare as integral parts of the economic growth agenda.
The essence of PM Chính's address encapsulated the spirit of optimism, highlighting Vietnam's position as it seeks faster, sustainable growth, echoing the resilient spirit of its workforce. The government perceives 2025 as pivotal, setting the pace for subsequent years, as Vietnam aspires to break through economic barriers and emerge as a strong, modern economy within the Southeast Asian region.
Vietnam stands at the brink of potential transformation, with collective action expected to drive its economy to unprecedented growth levels, fostering its vision for progress and development.