Vietnam sets GDP growth target at 10% for 2026

The National Assembly, Vietnam's legislature, on Wednesday approved a resolution setting an economic expansion target of at least 10% for 2026, per capita GDP at $5,400-5,500, and inflation controlled at around 4.5%.

The government aims to enlarge the national economy by 8.3-8.5% for 2025. GDP grew 7.85% in the first nine months. The figure was the second-highest levels in 11 years, except for 2023 which saw a strong surge post the pandemic.

Standard Chartered late last month raised its Vietnam GDP growth forecast to 7.5% for 2025 from the previous 6.1%, and to 7.2% for 2026 from 6.2%, following HSBC's revising up its prediction to 7.9% (from 6.6%) and 6.7% (from 5.8%), respectively.

Also under the resolution, lawmakers instructed the government to prioritize growth while maintaining macroeconomic stability, ensure fiscal and monetary policies are flexible and targeted, and steer credit flows toward business sectors while tightening lending to high-risk areas.

The government was also tasked with strengthening oversight of gold, real estate, and stock markets, and curbing tax evasion, particularly in e-commerce, food services, and retail.

Public debt and budget deficits are to be kept under control, while capital will be mobilized through sovereign bond issuances to finance key infrastructure projects.

On public investment, the National Assembly ordered faster disbursement of capital from early 2026, especially for national programs and strategic projects.

The government is further instructed to accelerate the establishment of an international financial center located in both Ho Chi Minh City and Danang as well as new-generation free trade zones in select provinces.

Infrastructure priorities include expediting the Lao Cai-Hanoi-Hai Phong railway, urban metro lines in Hanoi and Ho Chi Minh City, and the phase 2 of Long Thanh International Airport. Lawmakers also called for the swift implementation of the Can Gio international transshipment port in HCMC and Hon Khoai port in the southernmost province of Ca Mau.

For the energy sector, the resolution request proposals on special mechanisms to attract investment into major energy projects, ensure progress on the Ninh Thuan 1 and 2 nuclear power plants, and expand development into marine, aerospace, low-altitude, and underground economies.