PM Pham Minh Chinh speaks at the meeting
Speaking at an online government conference with 34 provinces and cities, the prime minister noted that the country recorded GDP growth of 7.52 per cent in the first half of 2025.
“With the strong efforts of the entire political system, people and businesses, we have achieved encouraging growth. However, many challenges remain for the rest of the year, particularly internal economic weaknesses that require urgent structural reforms,” Chinh said.
He added that the government is setting a specific growth target of 8.3 to 8.5 per cent for 2025, intended to establish a solid foundation for sustained double-digit growth from 2026 to 2030.
The prime minister urged delegates to assess the feasibility of reaching the 2025 target and identify key priorities, growth pillars, and responsibilities for ministries, state-owned enterprises and the private sector.
Two growth scenarios
Finance Minister Nguyen Van Thang outlined two growth scenarios for 2025.
In the first scenario, GDP would expand by 8 per cent, resulting in an economy worth over USD 508 billion and a per capita GDP of more than USD 5,000.
In the second scenario, GDP growth would reach 8.3 to 8.5 per cent, with total GDP exceeding USD 510 billion and per capita income rising above USD 5,020.
“These scenarios will depend on how effectively policies are implemented, especially in mobilising and using resources for growth,” the minister said.
To pave the way for 10 per cent growth in 2026 and beyond, the Ministry of Finance has recommended that the government and prime minister direct all ministries, sectors and local authorities to pursue the second scenario.
