Sir, could you tell us what drivers helped GDP growth in the first 6 months of the year achieve that result?
- GDP in the second quarter of 2025 grew positively, with an estimated growth rate of 7.96% over the same period last year, only lower than the growth rate of 8.56% in the second quarter of 2022 in the period 2020-2025. GDP in the first 6 months of 2025 increased by 7.52% over the same period last year, the highest level in the first 6 months of the year in the period 2011-2025.
From a production perspective, most production activities have maintained stability and growth quite well; the growth rate is quite even among economic regions and economic types. In particular, industrial and construction production is a significant driver of economic growth in the second quarter and the first 6 months. The added value of the industrial sector in the first 6 months of 2025 increased by 8.07% over the same period last year (quarter II increased by 8.79%). Construction activities increased as public investment continued to be strongly promoted, attracting strong FDI increases, the real estate market showed signs of improvement and the Government's support policies for recovery.
From the perspective of use, economic growth in the second quarter and 6 months was positively supported by both consumption, accumulation and import and export. Final consumption has increased quite high in the past 5 years with the stability of household consumption and a sharp increase in State consumption expenditure. Tourism continues to increase strongly both domestically and internationally. In the first 6 months of the year, international visitors increased by 20.7% over the same period.
Accelerating the disbursement of public investment capital in key infrastructure projects not only promotes the industry and construction but also establishes a foundation to increase the overall production capacity of the economy in the long term. The sharp increase in FDI capital, especially in new production projects in the fields of high technology, semiconductors, AI... has created new production capacity, jobs and opportunities for learning and managing for the economy.
Export activities in the first 6 months of 2025 are very vibrant. Total export turnover in the first 6 months reached 219.8 billion USD, up 14.4% over the same period.
How do you evaluate the economic growth results in the first 6 months of the year compared to the scenario of 8% or more in 2025?
- In the first 6 months of the year, GDP growth results of 7.52% are approximately the target of the updated growth scenario in the first quarter. This will reduce pressure on the following quarters and be a positive foundation for growth in the whole year of 2025. However, this is only a necessary condition for the growth target of 8%. To realize this goal, in the last 6 months of the year, it is necessary to exploit the maximum growth potential, synchronously, flexibly and promptly implement solutions and policies for economic development.
From domestic drivers, the economic growth scenario for 2025 is as follows: the first 6 months of the year increased by 7.52%, the last 6 months of the year increased by 8.42%, the whole year increased by 8% (of which the first quarter increased by 7.05%, the second quarter increased by 7.96%, the third quarter increased by 8.33%, the fourth quarter increased by 8.51%).
What measures should we take to achieve the growth target of over 8%, sir?
- We need to continue to maintain a stable macro environment, creating trust for investors and people. Closely monitor developments in world prices, especially energy and food prices to take timely response measures. Continue to operate a cautious and flexible monetary policy, ensuring inflation control within the set target (under 4.5%).
It is necessary to resolutely remove all bottlenecks in administrative procedures, site clearance, and construction materials to speed up the construction progress of projects, especially key transport infrastructure projects in the country.
stimulate exports and maximize FTA advantages. It is necessary to make full use of opportunities from effective Free Trade Agreements (FTAs) (EVFTA, CPTPP, RCEP). Strengthen trade promotion, seek and expand new markets, and diversify export products. Continue to maintain double-digit export turnover growth to contribute greatly to GDP growth. Continue to improve the investment and business environment, make policies transparent, and simplify administrative procedures to attract and improve the quality of FDI capital.
Thank you!
