Ho Chi Minh City, the southern economic hub of Vietnam (Photo: VNA)
Hanoi (VNA) - 🦩Prime Minister Nguyen Xuan Phuc has issued Directive No. 118/CT-TTg on building a socio-economic development plan for the 2021-25 period.
Ministries, sectors and localities nationwide have been asked to determine core issues for the next five years, especially the target to obtain GDP growth of about 7 percent in the period.
The PM noted that in the next five years, the national economy will face various difficulties and challenges stemming from current drawbacks, as well as social and environmental problems such as an aging population, the income gap, diseases and natural disasters, among others.
He added that the plan must be considered in line with complicated and unpredictable situations and fierce global competition.
🦩 Furthermore, the global economy is forecast to slow due to complexities caused by the COVID-19 pandemic./.
Fitch Solutions has revised down its 2020 real GDP growth forecast for Vietnam to 6.3 percent, from 6.8 percent previously, in light of the worsening global COVID-19 outbreak.
Vietnam’s gross domestic product (GDP) in the first quarter of 2020 grew 3.82 percent, the lowest pace during the 2011-2020 period, head of the General Statistics Office Nguyen Bich Lam said at a press conference in Hanoi on March 27.
Vietnam’s GDP growth rate of 3.82 percent in the first quarter of 2020, a record low since 2011, is still a miracle amidst a global economic recession, an official has said.
More measures and policies should be introduced to support enterprises, especially small and medium-sized enterprises (SMEs), in the context of a growing number of businesses temporarily ceasing operations due to the COVID-19 pandemic, economists have said.
Foreign media and international organizations have praised Vietnam’s efforts in containing the spread of the COVID-19 virus, suggesting that other countries could learn from its experience.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Ho Chi Minh City, the southern economic hub of Vietnam (Photo: VNA) 
