Target for GRDP growth of provinces in Vietnam in 2025 at a minimum of 8-10%

Target for GRDP growth of provinces in Vietnam in 2025 at a minimum of 8-10%​ (Image from the Internet)

On January 08, 2025, the Government of Vietnam issued Resolution 01/NQ-CP regarding key tasks and solutions for implementing the socio-economic development plan and state budget estimation for 2025.

Target for GRDP growth of provinces in Vietnam in 2025 at a minimum of 8-10%​

According to Resolution 01/NQ-CP 2025, despite facing many difficulties and challenges, our country's socio-economic landscape has confirmed a rapid, clear recovery – improving month by month and quarter by quarter, achieving outstanding results in all sectors better than in 2023.

All 15 targets set by the National Assembly have been met or exceeded. Macroeconomic stability, strongly driven growth, balance in major economic equilibriums, reduced budget deficits, and national debt indicators well below permissible ranges were achieved. The growth rate is estimated at 7.09%, placing Vietnam among the highest-growing countries in the region and the world, which international organizations highly regard.

The average consumer price index in 2024 was well controlled at 3.63% despite wage increases and price hikes in state-managed goods and services. Annual budget revenue is estimated to exceed predictions by 19.8%; the trade surplus is estimated at USD 24.77 billion.

Cultural, social, and environmental sectors are prioritized, improving people's living standards, including promptly addressing natural disaster consequences. National defense and security were enhanced; national independence and sovereignty maintained; social order and safety ensured.

The year 2025 holds special significance as a time for acceleration and breakthrough, reaching the final goal of the five-year socio-economic development plan 2021-2025. This period involves a revolutionary streamlining of organizational structures, preparing for Party congresses leading to the 14th National Congress of the Communist Party, and preparing foundational elements needed for the confident entry into a new era— the Era of Powerful, Prosperous Development of the Nation, towards successfully achieving the 10-year 2021-2030 socio-economic development strategy.

Our country's economy is forecasted to maintain positive growth momentum, with opportunities and challenges intertwined, yet external adversities and longstanding internal issues like flooding, drought, and saltwater intrusion present more challenges.

To successfully achieve the goals and tasks of the 2025 socio-economic development plan and the five-year period 2021-2025 in line with the conclusions and requirements of the Central Party Committee, the Politburo, the National Assembly's resolutions, the Government of Vietnam requires all levels, sectors, and provinces to concentrate on leadership and management, targeting a national GDP growth rate in 2025 of at least 8% and aspiring to double-digit growth given favorable conditions (higher than the National Assembly's target of 6.5-7%, striving for 7-7.5%), with the GRDP growth target for provinces in 2025 at a minimum of 8-10%, especially for Hanoi City, Ho Chi Minh City, potential provinces, major cities as leading growth poles aiming for higher growth rates than the national average to further enhance their roles in 2025.

Harnessing the strength of unity, spirit of innovation, continuous creative effort, courage to think and act, self-reliance spirit, and aspiration to rise, unifying will and action, turning challenges into opportunities for breakthrough, with high determination, great effort, decisive action under the theme "Discipline and responsibility; proactive promptness; streamlined effectiveness; acceleration for breakthrough" with 05 perspectives and key focus for management and direction.

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