Fiscal policy is the main pillar
To achieve the growth target of about 10% in 2026 and the following years, according to Dr. Can Van Luc - chief economist of BIDV, Member of the Prime Minister's Policy Advisory Council, it is necessary to identify fiscal policy as the main pillar, monetary policy plays a supporting role. The focus is on stimulating investment and consumption, maintaining the traditional export "front", while promoting service exports and effectively exploiting new growth drivers.
Along with that is the synchronous implementation of structural solutions, such as upgrading the stock market according to the roadmap; gradually operating the International Finance Center in Ho Chi Minh City and Da Nang; establishing a carbon market; building an real estate transaction center; upgrading the commodity transaction market. At the same time, it is necessary to focus on stabilizing key markets such as real estate, exchange rates and gold to limit spreading risks.
Besides the growth target, steadfast macroeconomic stability is still a consistent requirement. Fiscal and monetary policies need to be coordinated smoothly, controlling inflation within the permissible limits, and at the same time promoting economic restructuring in the direction of improving internal strength, increasing autonomy, self-reliance and self-strengthening.
Speeding up thanks to science and technology, innovation
According to Mr. Nguyen Ba Hung - chief economist of the Asian Development Bank (ADB), achieving growth targets depends on many factors, but the most important thing is not to issue new policies, but to effectively implement existing policies.
Vietnam is possessing many favorable conditions to continue its growth momentum. In which, public investment, budget spending on education and health; supporting businesses to develop human resources and social welfare expenditures play a key role. These expenditures not only stimulate domestic consumption but also maintain sustainable growth momentum.
Another important pillar that can help the Vietnamese economy accelerate is science and technology. Vietnam is currently behind the world average, so it is necessary to invest in upgrading technology and research capacity, creating conditions for the development of high-added industries such as digitization, semiconductors, AI and international financial services. Developing labor skills suitable for high-tech fields and creating a competitive and transparent business environment are key factors for potential industries to explode.
There is reason to believe in the 10% growth target
According to Dr. Le Duy Binh - Director of Economica Vietnam, there is full grounds to expect the economic growth rate in 2026 to be higher than in 2025.
First, the confidence of the market and investors, both domestically and internationally, in the Vietnamese economy is still very strong. The results of international surveys show that most investors plan to continue to expand investment in Vietnam in 2026.
Second, public investment is expected to continue to be promoted in 2026. State budget revenue is stable, public debt is within the safe threshold, creating favorable fiscal space for the Government to implement many large-scale infrastructure projects.
Third, domestic consumption will have a new growth momentum thanks to the policies of the 2025 Personal Income Tax Law, which will take effect from July 1, 2026. When people's disposable income increases, consumer confidence is strengthened, which will stimulate domestic aggregate demand, directly contributing to GDP growth.
Fourth, 2026 is also the first year of the 5-year new socio-economic development plan, so it is certain that the Government and ministries and sectors will focus highly on creating breakthroughs, both in management, investment, institutional reform and innovation of the growth model.
Vietnam will accelerate the transition to a new growth model, focusing more on science and technology, innovation, labor productivity and aggregate productivity factors.
