Maintaining growth momentum amidst many fluctuations
The 13th Party Congress term closed in the context of strong global economic volatility, the COVID-19 pandemic causing supply chain disruption and global recession.
In that context, under the leadership of the Party, Vietnam's economy not only stood firm but also recovered quickly, maintaining a high growth rate in the region and the world. Thanks to the drastic involvement of the entire political system, the entire people, the entire army and the business community, the socio-economy in 2025 is estimated to complete and exceed 15/15 key targets.
GDP growth in the following quarter is higher than the previous quarter; the whole year 2025 is estimated to reach 8.02%, belonging to the leading group in the world. On average, in the period 2021-2025, growth reached about 6.3%, higher than the previous period. If excluding 2021 heavily affected by the COVID-19 epidemic, average growth in the period 2022-2025 reached 7.13%, exceeding the 5-year socio-economic development plan target.
The processing and manufacturing industry increased by 9.97%, the highest level in the period 2019-2025, continuing to be the main driving force of growth. By the end of 2025, 3,335km of highways and over 1,700km of coastal roads had been completed.
The GDP scale in 2025 is estimated to reach 514 billion USD, increasing 5 places, rising to 32nd in the world; GDP per capita reached about 5,026 USD, 1.4 times higher than in 2020, bringing Vietnam into the group of countries with high middle income, exceeding the set target.
State budget revenue achieved outstanding results with total budget revenue in 5 years reaching nearly 9.88 million billion VND, exceeding 18.1% of the set target, nearly 1.4 times higher than the previous period, while tax, fee, and fee exemption, reduction, and extension have been implemented for about 1.1 million billion VND.
The internal capacity of the economy has been improved. The private economy is developing positively, with nearly 297,500 new businesses established and returning to operation in 2025. The total number of operating businesses exceeded 1 million, a sharp increase compared to previous years.
Establishing a new growth model
In the draft political report submitted to the 14th National Congress, it is affirmed: Fully promote the functions and roles of economic sectors. Develop the State economy effectively, truly maintain the leading role in ensuring major balances, strategic orientations, and leading the economy; private economic development is the most important driving force of the economy; cooperative economy, collective economy, foreign-invested economy and other types of economy play an important role. This is a very important new point in this draft Document.
Placing the private economy as the most important driving force of the economy is a strategic approach in the context of deep integration and increasingly fierce global competition.
To achieve the goal of striving for double-digit growth, Politburo Member, Prime Minister Pham Minh Chinh emphasized the task of focusing on perfecting institutions and laws to ensure transparency, synchronization, and fairness, focusing on laws on investment and business to liberate production, mobilize all resources and create new momentum for development, transforming institutions from "bottleneck points" into national competitive advantages. Improving the efficiency of all types of markets; promoting administrative procedure reform, improving the business environment.
Continue to prioritize promoting growth but must maintain macroeconomic stability, control inflation and ensure major balances. Closely coordinate, flexibly, effectively and reasonably expanded fiscal policy, with focus and key points, proactive, flexible, timely, effective monetary policy and other macroeconomic policies; promote and innovate traditional growth drivers, develop new growth drivers.
