Hanoi (VNA) -🀅 Achieving economic growth of at least 8% in 2025 will lay the foundation for even higher growth in the following years, with a long-term goal of reaching double digits. Deputy Minister of Planning and Investment Tran Quoc Phuong said this ambitious target demands strong determination, great effort, and decisive action.

Comprehensive solutions across all sectors are outlined in the Government’s Resolution 01. However, given the higher growth requirements, implementation must be intensified, requiring ministries, sectors, and localities to double their efforts. “Simply put, each individual and unit must work at twice their current productivity to achieve this new growth target,” he said at a regular press conference held by the Government Office on February 5 in Hanoi. At the January Party Central Committee meeting, key resolutions were approved, including adjustments to the 2025 economic growth target. “Previously, based on National Assembly resolutions, the target was set at 6.5–7%, aiming for 7–7.5%. However, the Party Central Committee has decided to raise this to at least 8%,” Phuong explained. This target is expected to not only meet five-year economic goals but also create a strong foundation for a new phase of development.

Key measures for economic growth

To implement the new target, the MPI has prepared the necessary reports and documents under the direction of the Government and the Prime Minister. The Government will submit a proposal to the National Assembly at an upcoming extraordinary session to adjust key economic indicators. The MPI will present its reports to the Government beforehand. Additionally, the ministry has drafted a separate resolution to guide implementation. “This resolution will assign specific growth targets to each locality while defining key indicators for ministries and central agencies,” Phuong said. The MPI has carefully reviewed and aligned its proposals with Party Central Committee, Politburo, and Government resolutions. Targets will be realistic and achievable rather than rigid quotas. Regarding solutions, Phuong emphasized the need to strengthen legal and institutional frameworks. On the demand side, boosting investment is a priority. Public investment must be used effectively to ensure projects are implemented quickly, stay on schedule, and deliver real benefits. State-owned enterprises, particularly leading firms, are expected to launch large-scale projects with broad economic impact. These enterprises should drive investment growth and contribute significantly to economic expansion in 2025.

Enhancing investment environment

For private and foreign direct investment (FDI), Phuong stressed the need to remove regulatory barriers and improve the business climate. The government should enhance transparency and ease of doing business to attract investors. Additionally, key policies approved by the National Assembly must be swiftly implemented to attract major investments in high-tech industries. By executing these strategies effectively, Vietnam aims to not only meet its 2025 growth target but also pave the way for sustainable economic development in the coming years./.