Vietnam sets GDP growth target of 10%/year or more, ASEAN's third largest economy

Vương Trần - Phạm Đông |

The Permanent Deputy Prime Minister set a target of average GDP growth of 10%/year or more, with the scale of the economy ranking 3rd in ASEAN by 2030.

This morning (October 13), the 1st Congress of the Government Party Committee, term 2025-2030, solemnly opened in Hanoi.

Politburo member, Permanent Deputy Secretary of the Government Party Committee, Permanent Deputy Prime Minister Nguyen Hoa Binh presented the Political Report of the Government Party Committee Executive Committee for the 2020-2025 term.

Mr. Nguyen Hoa Binh said that in the context of difficulties and challenges rather than advantages, the Government Party Committee has led and directed the completion of socio-economic development goals and tasks for the period 2021-2025, with the results each year higher than the previous year; achieved and exceeded 24/26 targets, especially completing all social targets.

Some outstanding results include: Focusing on leadership, direction, quick response, drastic implementation of many flexible solutions, effective control of the COVID-19 epidemic; Leaders implementing solutions to promote economic growth; macro economy is basically stable, inflation is controlled ( Prices of goods and services are stable; inflation remains below the target of below 4%/year), major balances are guaranteed.

GDP growth from 346 billion USD in 2020, ranked 37th in the world, to over 510 billion USD in 2025, increased by 5 ranks, ranked 32nd in the world and 4th in the ASEAN region; GDP per capita is 1.4 times higher, increased from 3,552 USD to about over 5,000 USD, entering the group of high-middle-income countries.

State budget revenue for the period 2021-2025 is estimated at 9.6 million billion VND, 1.36 times higher than the period 2016-2020 and exceeding the set target (8.3 million billion VND, an increase of over 15.6%).

Uy vien Bo Chinh tri, Pho Bi thu Thuong truc Dang uy Chinh phu, Pho Thu tuong Thuong truc Chinh phu Nguyen Hoa Binh. Anh: Hai Nguyen
Member of the Politburo, Permanent Deputy Secretary of the Government Party Committee, Permanent Deputy Prime Minister Nguyen Hoa Binh. Photo: Hai Nguyen

Mr. Nguyen Hoa Binh also stated the general goal in the new term, which is to maintain a peaceful and stable environment; develop the economy quickly and sustainably; strive to be a developing country with modern industry, high average income, GDP in the group of 30 leading economies in the world, and 3rd in the ASEAN bloc by 2030. Economic growth in the 2026 - 2030 period will reach a high rate; ensuring major balances.

Modern, effective and efficient management institutions; synchronous basic infrastructure network; comprehensive human resources development; science, technology and innovation qualifications are among the leading groups in countries with high average incomes. Significantly improve the lives of the people.

Build a clean and strong Government Party Committee; fight to prevent and repel degradation in political ideology, ethics, lifestyle, "self-evolution", "self-transformation". Improve the leadership capacity and fighting strength of Party committees, Party organizations and cadres and Party members; build a cadre team, especially key cadres in the Government Party Committee, who are truly exemplary in political mettle, qualities, capacity and prestige, equal to the task; innovate and improve the quality and efficiency of inspection and supervision work.

The main indicators, in terms of economy - society, are the average GDP growth rate of 10%/year or more; GDP per capita by 2030 will reach about 8,500 USD.

Regarding Party building work, strictly implement the Party's resolutions on Party building. Strive to admit new party members to 3% or more of the total number of party members; each year, 20% of party organizations complete their tasks excellently; 90% of party members complete their tasks well or better.

Vương Trần - Phạm Đông
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