Mobilizing financial resources for double-digit growth target
At the Vietnam Economic Forum 2025, Perspectives 2026 - Finance - Banking session held on the morning of December 16, 2025 at the Government headquarters, policymakers, experts and business representatives focused on discussing the requirements for mobilizing and effectively using financial resources to realize the double-digit economic growth target for the period 2026-2030.
Speaking at the opening of the session, Mr. Pham Thanh Ha - Deputy Governor of the State Bank of Vietnam emphasized that the goal of making Vietnam a high-middle-income country by 2030 and joining the group of high-income countries by 2045 are strategic goals, demonstrating the determination and development will of the Vietnamese people in the new era.
According to the Deputy Governor of the State Bank, the double-digit growth target is of special significance, contributing to shortening the country's development gap, while improving autonomy, effectively integrating the international economy and affirming Vietnam's position in the international arena. In that context, the mobilization and effective use of resources, especially financial resources, has become a key issue.
Mr. Pham Thanh Ha said that from the beginning of 2025 to now, the Party and the State have issued many important resolutions, in which the Politburo's resolutions have been identified as development pillars, including Resolution No. 57 on science, technology development, innovation and national digital transformation; Resolution No. 59 on international integration; Resolution No. 66 on innovation in law-making and enforcement; Resolution No. 68 on private economic development. These mechanisms and policies focus on strategic breakthroughs, creating strong momentum for the new development stage of the country.
Based on the in-depth grasp of these orientations, the synchronous participation of the entire political system, along with the active participation of the business community and people, has helped many new mechanisms and policies to be implemented; important projects and works are promoted; capital and human resources are exploited more effectively, despite the unstable and complicated world economic context.
Finance - banking plays a key role in the new growth model
Speaking at the forum, Mr. Do Thanh Trung - Deputy Minister of Finance assessed that in the recent period, despite many difficulties in the international and domestic context, Vietnam has maintained macroeconomic stability, controlled inflation and achieved high economic growth thanks to the increasingly effective mobilization and use of financial resources.
According to the Deputy Minister of Finance, the Government has implemented many fiscal policies to support the economy, including exemption, reduction, and extension of taxes, fees, and charges; promoting support for important projects and works in the fields of social security and people's livelihood.
The State budget still ensures development investment expenditure and regular expenditure, while maintaining the whole- society investment rate at about 3233% of GDP, thereby focusing on developing strategic infrastructure, socio-economic infrastructure, creating a favorable investment environment and spreading other investment resources.
In the investment structure, the domestic residential and business sector accounts for over 65%, the foreign direct investment sector contributes about 16% of total social investment capital. Vietnam is currently among the 15 countries attracting the largest FDI in the world. The scale of the financial market continues to expand; by the end of November 30, the total scale of the financial market is estimated to reach about 390 billion USD, equivalent to about 82% of GDP.
Innovation in resource allocation thinking to meet high growth requirements
However, Mr. Do Thanh Trung also frankly acknowledged that the growth model relies heavily on cheap capital, cheap labor and processing, and is gradually revealing its limits. In the context of the double-digit growth target for the 2026-2030 period set out with very high requirements, total social investment capital needs to be strongly expanded, accompanied by fundamental changes in thinking, action and methods of allocating, managing and using resources.
According to the Party's consistent viewpoint, internal resources are a long-term strategic foundation, while external resources are an important resource of breakthrough nature. Therefore, in addition to the requirement to mobilize enough capital, the core issue is to allocate it in the right place, use it effectively and create higher added value for the economy.
From the perspective of financial management, budget and capital market management, the Deputy Minister of Finance emphasized the role of fiscal policy in creating growth, being managed proactively, sustainably, with focus and key points. The State budget needs to focus on development investment, for strategic areas such as digital infrastructure, green transformation, while ensuring financial safety and controlling public debt.
Along with that, the capital market needs to develop into a pillar for mobilizing medium and long-term resources, gradually reducing dependence on bank credit. Enterprises, especially state-owned enterprises and private enterprises, need to promote their role in mobilizing and using resources, in which state-owned enterprises focus on key areas, while the private economic sector is facilitated to become an important driving force for growth.
Strengthening close coordination between fiscal and monetary policies, along with strongly improving the investment and business environment, is identified as a foundational solution to attract and retain long-term, high-quality financial resources, serving the goal of rapid and sustainable development of the country in the coming period.
