Hanoi, December 25, 2024 – The Europe Today: The Deputy Prime Minister and Minister of Foreign Affairs, Bùi Thanh Sơn, emphasized the critical role of the industry and trade sector in 2025 to meet Vietnam’s long-term development goals. Addressing a meeting to review the sector’s performance in 2024 and set tasks for 2025, Sơn underscored that 2025 would be a crucial year for the country’s economic transformation, laying the foundation for the successful implementation of the 10-year Socio-Economic Development Strategy for 2021-2030.
Sơn highlighted the target of achieving a GDP growth of 8% or higher in 2025, which will require collective efforts from the entire political system, citizens, and businesses, with the industry and trade sector taking a leading role in driving this progress.
The Ministry of Industry and Trade (MoIT) has set ambitious targets for 2025, including a 9-10% increase in the industrial production index, a 12% increase in exports, and a 10% rise in retail sales of goods and consumer services. Additionally, the total electricity production and import is expected to increase by 12.2% to reach 347.5 billion kWh.
To achieve these targets, Sơn urged the MoIT to focus on creating a favorable and transparent legal environment, removing administrative barriers, and attracting investment for industrial development and trade promotion. He also called for the formulation of a Strategy for Industrial Development to enhance the country’s self-reliance, focusing on industries that use advanced technology, provide high added value, and reduce carbon emissions.
In response, Minister of Industry and Trade Nguyễn Hồng Diên outlined the ministry’s plans to develop legal frameworks to facilitate industrial, energy, and trade development. This includes completing key legislative projects such as the Law on Chemicals, the Law on Energy Efficiency, and the Law on E-commerce Management.
The ministry will also prioritize strengthening international economic integration, maximizing opportunities arising from foreign relations, and enhancing the role of Vietnamese trade offices abroad to leverage Free Trade Agreements (FTAs) effectively.
The Deputy Minister of Industry and Trade, Phan Thị Thắng, reported that the sector had already exceeded its 2024 targets, signaling a strong foundation for achieving the ambitious goals set for 2025.
