Comprehensive and miraculous developments
After 50 years of liberating the South, unifying the country (April 30, 1975) and nearly 40 years of implementing the renovation process, the entire Party, people, and army have achieved many important achievements. Outstanding results in various fields create the premise for the era of national growth.
Looking back on history, in 1974, the economic scale of both the North and the South combined was less than 22 billion USD.
By 2024, Vietnam's GDP will reach 476.3 billion USD (nearly 129 times higher than in 1975), ranking 24th in the world in terms of purchasing power parity (PPP).In 2025, according to the International Monetary Fund (IMF), Vietnam's economy will have a scale of 506 billion USD.
In 2024, GDP per capita will reach 4,700 USD (equivalent to 114 million VND), 58.75 times higher than in 1975.
GDP in the first quarter of 2025 increased by 6.93% over the same period in 2024, reaching the highest increase compared to the first quarter of the years in the period 2020 - 2025.
Thus, our country's GDP has grown continuously for decades, the increase is among the top in the world.
Regarding GDP scale, Vietnam in 2010 ranked 6th in Southeast Asia, 17th in Asia, 53th in the world. By 2024, this order has changed significantly - fifth in Southeast Asia, 14th in Asia and 33th in the world.
In the article Peace and prosperity after 50 years of national reunification, Dr. Nguyen Si Dung - Member of the Prime Minister's Policy Advisory Council - emphasized that the most profound and decisive achievement for the future of Vietnam is the strong innovation in institutional thinking in recent times.
Vietnam has clearly identified the "bottlenecks" that hinder development - first of all, barriers in the institutional system, in organizational structure and in the thinking of national governance. Since then, the Party and the State have set out major and breakthrough policies:
First, remove institutional bottlenecks: A series of new resolutions and regulations have been issued to amend and perfect the legal system, ensure consistency, transparency and promote strong development of social resources.
Second, the revolution of streamlining the apparatus: The spirit of streamlining, efficiency, and truly operational apparatus has become a leading trend, smooth from the central to local levels.
Third, developing science, technology, innovation and digital transformation: Vietnam considers this a new driving force for rapid and sustainable growth in the digital era.
Fourth, promoting private economic development: The thinking of considering the private economy as the most important driving force of the national economy is clearly affirmed, opening up a large space for creativity and legitimate enrichment.
Fifth, international integration in the new context.
Efforts to successfully implement the GDP growth target
Meanwhile, Dr. Nguyen Manh Hung - Member of the Economic and Financial Committee - said that with a spirit of urgency, determination, and constant innovation, we will successfully achieve the GDP growth target of reaching and exceeding 8% in 2025, creating a solid foundation for double-digit growth in the following years to build a strong and prosperous country by 2045.
Dr. Nguyen Manh Hung also mentioned the issue of ensuring adequate capital supply for the economy. The urgent task at present is to find strong solutions to reduce regular expenditures, increase investment expenditures, and increase capital resources for the economy.
In particular, the revolution of streamlining the administrative apparatus needs to be implemented quickly and effectively to support this goal.
In the face of increasing capital demand from businesses, monetary policy mechanisms need to be extremely flexible, especially interest rate policies, with strong priority for technology fields, so that businesses can access capital as quickly as possible, at the lowest cost, promote startups and innovation.
