Hanoi, February 19, 2025 – The Europe Today: The 15th National Assembly of Vietnam on Wednesday passed a resolution adjusting the 2025 socio-economic development plan, setting an ambitious growth target of at least 8 per cent.
During its ninth extraordinary session, the legislative body revised several key development targets. The gross domestic product (GDP) growth rate is now projected to reach 8 per cent or higher, with the GDP scale expected to surpass US$500 billion in 2025. Additionally, GDP per capita is anticipated to exceed $5,000, while the average consumer price index (CPI) growth rate is targeted between 4.5 and 5 per cent.
The National Assembly endorsed the tasks and solutions proposed by the Government and relevant agencies, emphasizing the importance of implementation. Lawmakers underscored the need to refine institutional and legal frameworks and enhance the effectiveness of law enforcement.
Key resource allocation priorities include completing strategic infrastructure systems, addressing obstacles to public investment, streamlining administrative procedures, and fostering a more favorable investment and business environment. The resolution also highlights the necessity of reinforcing and modernizing traditional growth drivers.
The document further stresses the importance of fostering new growth drivers by advancing productive forces, accelerating scientific and technological breakthroughs, and promoting digital transformation.
On the same day, the National Assembly also approved a resolution piloting various mechanisms and policies aimed at removing barriers in science-technology research, innovation, and digital transformation. This resolution consists of four chapters and 17 articles, outlining measures to enhance Vietnam’s competitiveness in these critical areas.
The approval of these resolutions marks a significant step in Vietnam’s commitment to sustainable and high-quality economic growth, reinforcing its position as a rapidly developing economy in the region.
