On the morning of October 20, at the opening session of the 10th Session, Politburo member and Prime Minister Pham Minh Chinh presented a report on the results of the implementation of the socio-economic development plan for 2025 and the 5 years 2021-2025; the expected socio-economic development plan for 2026.
According to the Prime Minister, Vietnam's economy affirms its resilience to external shocks, maintaining a growth rate among the world's top performers.
GDP in 2025 is expected to increase by over 8%; the average period of 2021 - 2025 will increase by 6.3%, higher than the previous period (6.2%). In 2021, due to the impact of the COVID-19 pandemic, growth will only reach 2.55%; in the fourth period of 2022-2025, growth will be an average of 7.2%/year, exceeding the target of 6.5 - 7%.
The size of the economy will increase from 346 billion USD in 2020 to 510 billion USD in 2025, up 5 ranks, to 32nd place in the world; GDP per capita in 2025 is estimated to reach about 5,000 USD, 1.4 times higher than in 2020, in the high-middle-income group.
By the end of 2025, it is expected to complete 3,245km of expressway (exceeding the target by 3,000km) and 1,711km of coastal road (exceeding the target by 1,700km); basically complete the first phase 1 of Long Thanh International Airport according to 4F standards in Vietnam; put into operation the first phase 1 of urban belt routes and railways.
According to the Prime Minister, many projects that have been stalled for many years have been resolutely handled, achieving positive results, contributing to the release of resources for development.
The Politburo has submitted opinions on handling 5 weak banks (4 commercial banks and the Bank for Development of Vietnam have been operating stably and effectively). Of which, 4 banks that are required to transfer are gradually operating stably, implementing according to the roadmap. The Bank for Vietnam has handled nearly VND 22.4 trillion of bad debts, down 43.6% and balanced finances, positive revenue and expenditure differences, and reduced accumulated losses by 80% (equivalent to VND 5,420 billion).
12 projects and enterprises that suffered losses and important energy projects that have been longstanding were resolved (such as the projects of Song Hau 1 Power Plant, Long Phu 1, Thai Binh 2, Van Phong 1 BOT, Nghi Son Oil Refinery, O Mon Power Plant, Lo B Gas field...)
Remove obstacles, put into production and business nearly 1,200 projects with a total value of 675 trillion VND. Currently directing the review, classification, and proposal to competent authorities to continue handling nearly 3,000 projects of all kinds with a total capital of millions of billions of VND and a land use scale of hundreds of thousands of hectares.
Resolutely and effectively implement the arrangement and streamlining of the apparatus of the Government and the organization of local governments at both levels in conjunction with promoting decentralization and delegation of power. The number of state administrative staff decreased by 145,000 people; regular expenditures decreased by 39 trillion VND/year.
The activities of local government at both levels are gradually becoming more disciplined; shifting the state from administrative management to serving the people and creating development.
Inspection, examination, prevention and control of corruption, waste and negativity are being promoted. Proposal to reclaim nearly 425 trillion VND and 2.2 trillion hectares of land. Strictly handle and recover money and assets from corruption and economic cases of nearly 13.6 trillion VND, 520 trillion USD; seize assets worth nearly 438 trillion VND.
However, the Prime Minister also pointed out that the real estate, gold and bond markets are still complicated. The handling of backlogged and prolonged projects and real estate facilities still requires more efforts.
Environmental pollution, traffic congestion, flooding, subsidence, landslides... in large cities and mountainous areas have not been effectively handled. The security and order situation in some areas, cybersecurity crimes, high technology still have complex factors.
