Vietnam targets GDP growth beyond 10% in 2026-2030: Prime Minister
Vietnam targets a GDP growth of 7% in 2024 and 8% in 2025, in order to prepare for an annual growth beyond 10% in 2026-2030, Prime Minister Pham Minh Chinh said at a monthly cabinet meeting on Saturday.
Chinh highlighted the strong socioeconomic growth in the first 11 months of this year, including the index of industrial production (IIP) going up 8.4% year-on-year, retail sales and services increasing 8.8%, the purchasing managers' index (PMI) reaching 50.8, inflation being tamed at 3.69%, credit growth hitting 12%, and trade surplus rising to $24.3 billion.
Prime Minister Pham Minh Chinh (center) speaks at a cabinet meeting in Hanoi on December 7, 2024. Photo courtesy of the government's news portal.
Minister of Planning and Investment Nguyen Chi Dung said the GDP growth can exceed 7% in the last quarter of this year.
To extend the country’s strong economic growth, he suggested the government focus on providing detailed guidance to implement the National Assembly’s decision, streamlining the apparatus, early building plans for 2025, updating the legal framework to facilitate business activities, pushing the demand ahead of the Lunar New Year (Tet) Holiday 2025, and ensuring defense-security.
Concluding the meeting, the PM recommended solutions to ensure socioeconomic growth, including the government streamlining 15% of its apparatus, continuation of flexible monetary policy, the central bank stabilizing the exchange rate and pushing credit growth to 15%, and the government enforcing a two-percentage-point reduction in the VAT.
Other solutions are pushing innovation and green transformation, developing digital infrastructure, enhancing workforce training, speeding up the handling of SCB fraud, and the Ministry of Public Security investigating frauds in land bidding and market manipulation.
- Read More
Sun Group aims to launch $2 bln casino-resort complex in northern Vietnam by 2032
Sun Group, one of Vietnam’s leading property developers, targets to complete its VND51.6 trillion ($2 billion) casino and resort complex project in the northern coastal province of Quang Ninh by 2032.
Real Estate - Sun, September 7, 2025 | 8:00 am GMT+7
Vietnam's industrial production on upward trend
Vietnam's industrial production index continued to rise in the first eight months of the year, with all 34 cities and provinces recording an increase.
Economy - Sat, September 6, 2025 | 10:20 pm GMT+7
Vietnam's leading industrial park developer Becamex IDC raises $75 mln in latest bond issuance
Becamex IDC (HoSE: BCM), a leading Vietnamese industrial park developer, has raised VND2 trillion ($75.4 million) in its latest bond issuance.
Finance - Sat, September 6, 2025 | 8:35 pm GMT+7
Vietnam's FDI capital disbursement hits five-year high amid global decline
Disbursed foreign direct investment (FDI) capital in Vietnam hit $15.4 billion in Jan-August, up 8.8% year-on-year, despite declining global investment flows, the Foreign Investment Agency (FIA) reported.
Economy - Sat, September 6, 2025 | 4:30 pm GMT+7
EVNNPT leader inspects 220kV substation project progress in central Vietnam
Pham Le Phu, CEO of EVNNPT, a subsidiary of state utility Electricity Vietnam (EVN), on Thursday inspected the construction of the 220kV Chan May Substation and its associated transmission line in the central city of Hue.
Companies - Sat, September 6, 2025 | 3:42 pm GMT+7
Vietnam’s gas transmission firm PV Gas SE: a journey of creation and pride
For over two decades, Petrovietnam Gas South East Transmission Company (PV Gas SE) has stood as a lasting symbol within Petrovietnam Gas Joint Stock Corporation (PV Gas) - one of the earliest-established units closely tied to the pioneering steps of Vietnam’s gas industry.
Companies - Sat, September 6, 2025 | 3:33 pm GMT+7
Politician Anutin Charnvirakul wins vote to become new Thai PM
Thailand’s Bhumjaithai Party leader Anutin Charnvirakul has secured enough votes to become the country's new Prime Minister.
Southeast Asia - Sat, September 6, 2025 | 10:55 am GMT+7
Vietnam’s sugar productivity maintains top regional spot
In the 2024-2025 crop, Vietnam maintained its position as the regional leader in sugar productivity, reaping 6.69 tons per hectare, outpacing other major producers such as Thailand, Indonesia, and the Philippines.
Companies - Sat, September 6, 2025 | 10:53 am GMT+7
Gaming drives Vietnam tech unicorn VNG’s H1 revenue
Vietnamese tech unicorn VNG Corp (UPCoM: VNZ) reported net revenue of over VND4.8 trillion ($181.82 million) in H1, up 11% year-on-year, with gaming remaining its major contributor at VND3.59 trillion ($135.98 million).
Companies - Sat, September 6, 2025 | 10:39 am GMT+7
Hanoi gives green light to fifth metro line Van Cao-Hoa Lac
Vietnam's capital city of Hanoi has approved a plan to build the Metro Line No. 5, connecting Van Cao with Hoa Lac.
Infrastructure - Sat, September 6, 2025 | 9:02 am GMT+7
VAFIE helps Hai Phong-based firms get updates on tax policies
The Vietnam’s Association of Foreign Invested Enterprises (VAFIE) and Hai Phong's Tax Department co-organized a seminar titled “Updates on Tax Policies and International Financial Reporting Standards (IFRS)” on Friday in the northern port city.
Companies - Sat, September 6, 2025 | 8:56 am GMT+7
Vietnam coffee exports hit record high
Vietnam’s coffee industry is experiencing a breakthrough year, with exports setting new records in both volume and value.
Economy - Sat, September 6, 2025 | 8:10 am GMT+7
H&M eyes expansion in Vietnam’s wealthiest city
Fashion retail giant H&M is looking into procedures for leasing locations and opening new stores at the heart of Ho Chi Minh City, as it aims for expansion in Vietnam.
Industries - Fri, September 5, 2025 | 9:41 pm GMT+7
Vietnam Politburo’s new resolution targets national energy security through 2030
Party chief To Lam, on behalf of the Politburo, has signed Resolution 70, a strategic framework to ensure national energy security through 2030, with a vision to 2045.
Economy - Fri, September 5, 2025 | 4:23 pm GMT+7
Petrovietnam subsidiary, Malaysia’s Hibiscus Petroleum sign Heads of Agreement for Block 46/13
The Petrovietnam Exploration Production Corporation (PVEP), a subsidiary of state-owned giant Petrovietnam, and Hibiscus Oil and Gas Malaysia Limited recently signed a Heads of Agreement for Block 46/13 Production Tie-in to PM3 CAA PSC (HOA PTI).
Energy - Fri, September 5, 2025 | 3:48 pm GMT+7
Vietnam's EV maker VinFast posts 92% revenue growth in Q2
VinFast, a Vietnamese electric vehicle manufacturer (Nasdaq: VFS), reported total revenue of over VND16,609 billion ($663 million) for Q2/2025, an increase of 91.6% year-on-year and 1.9% higher than Q1.
Companies - Fri, September 5, 2025 | 3:38 pm GMT+7
