Recently, the Government has proposed that the Central Government and the National Assembly strive to achieve GDP growth in 2025 of 8% or more and double-digit growth in the coming years. The Central Government issued Conclusion 123 on January 24, the National Assembly passed a Resolution on February 19 and the Government assigned growth targets for 2025 to localities and ministries.
Talking with Lao Dong, Dr. Le Duy Binh - Director of Economica Vietnam assessed that Vietnam has great potential to achieve the growth target of 8% or more in 2025. However, this is not an easy goal to achieve, but requires great efforts from entities in the economy. To achieve this goal, it is necessary to clearly identify important drivers that can promote growth.
"First of all, we must talk about public investment. This is one of the main drivers to promote economic growth. This will be a great driving force to achieve the target of public investment disbursement in 2025. In parallel with promoting public investment, it is necessary to mobilize private investment capital effectively.
Domestic consumption is also an important driver of economic growth, contributing to boosting domestic service and retail revenue. Next is export - one of the important sources of foreign currency revenue and the main driving force for the economy" - Dr. Le Duy Binh analyzed.
Assessing Vietnam's growth target, Mr. Suan Teck Kin - Director of Global Market and Economic Research, UOB Bank (Singapore) assessed that Vietnam's high growth rate of 8% or even 2 digits is completely possible, as the experience of Singapore and China. Especially in the context that Vietnam has had strong growth momentum in 2024 with a growth rate of over 7%.
Previously, the Asian Development Bank (ADB) maintained a positive view on Vietnam's economic growth in 2025 and raised its forecast for 2025 to 6.6%, from 6.2%.
The ADB forecast is based on Vietnam's strong export performance, including manufacturing, solid foreign direct investment (FDI) performance, supported by the trend of adjusting global currencies and global commodity prices at a moderate level (including crude oil prices).
From another perspective, the World Bank (WB) also expressed its expectation that Vietnam's GDP growth in 2025 will be about 6.5%, once again making Vietnam one of the fastest growing economies in the East Asia - Pacific region. Compared to other countries in the region, Vietnam's GDP growth will surpass the increases of the Philippines (6.1%), Cambodia (5.5%), Indonesia (5.1%) and Thailand (2.9%).
According to the International Monetary Fund (IMF), Vietnam's economy will reach a scale of 506 billion USD in 2025, ranking 33rd globally.
