Hanoi (VNA) ꦅ– Prime Minister Pham Minh Chinh presented a supplementary assessment report on the socio-economic development and state budget in 2024, along with updates on the performance of the socio-economic development and state budget tasks in early 2025 at the 15th National Assembly’s 9th session that opened in Hanoi on May 5.
In his speech, PM Chinh announced that Vietnam had met or surpassed all 15 key targets in 2024, with 12 exceeding initial projections. A standout achievement was the rebound in labour productivity growth, which had lagged for three years but finally outstripped its goal.
The economy grew by 7.09%, among the highest rates in the region and the world, propelling Vietnam’s economic size to 476.3 billion USD and its global ranking to 32nd, up three places. Per capita GDP reached 4,700 USD, inching closer to the upper-middle-income threshold.
The PM highlighted the momentum in early 2025, with first-quarter GDP growth estimated at 6.93%, the strongest start to a year in the 2020-25 period. Macroeconomic conditions remained stable with inflation well-controlled and major economic balances secured. State budget revenue in the first four months topped 944 trillion VND, making up 48% of the annual target and marking a 26.3% year-on-year increase. Foreign trade value exceeded 275 billion USD, up 15%.
He also lauded drastic and coordinated progress in the country’s three strategic breakthroughs, while social security, public safety, and inclusiveness have beeb guaranteed in the spirit of leaving no one behind.
Infrastructure development has accelerated toward greater modernity, prioritising key projects such as expressways, high-speed rail, airports, seaports, and infrastructure in education, healthcare, and sports. Vietnam aims to have over 3,000 km of expressways and 1,000 km of coastal highways later this year, partly via fast-tracking key sections of the North–South expressway for 2021-2025 and East–West expressways.
Looking ahead, he reiterated the 2025 target of 8% GDP growth, an economic size exceeding 500 billion USD, and per capita GDP above 5,000 USD. To achieve this, he urged decisive action, including flexible and proactive monetary and fiscal policies, a potential budget deficit adjustment to 4-4.5% of GDP, and full disbursement of public investment capital for strategic projects. Emphasis is being placed on expediting site clearance, compensation procedures, and ensuring a stable supply of construction materials for national key infrastructure projects. Vietnam will also navigate US tariff policies while advancing trade frameworks to protect its interests without violating international commitments.
Domestically, the Government will aggressively realise and institutionalise the Politburo's recent resolutions on breakthroughs in sci-tech, innovation and national digital transformation; global integration, overhaul of law building and enforcement, and development of the private sector. In 2025, Vietnam aims to review and legalise pilot models and special policies through laws, while expanding decentralisation and delegation of power. Targets for administrative reform include scrapping at least 30% of unnecessary business conditions, cutting 30% of processing time for administrative procedures, and reducing 30% of related costs.
The PM called for deep reform of public governance and public consultation on the revision of the Constitution 2013. A key economic pivot will be the restructuring of the national growth model; placing sci-tech, innovation, and digital transformation at the heart of Vietnam’s development engine. State-owned enterprises are also being urged to improve efficiency and pool resources for large-scale, high-impact projects.
Illustrative image (Photo: VNA)
Ministries, agencies, and localities must develop a quality workforce aligned with future market demands, especially in strategic areas such as artificial intelligence, data science, semiconductor, high-speed rail construction and operation, and nuclear energy.
One of the most significant social policy shifts announced was the allocation of resources to provide free tuition for preschool and general education students, effective from the 2025–2026 academic year.
In healthcare, he underlined the continued investment in preventive and grassroots healthcare systems. Vietnam is pushing a shift from reactive medical treatment to comprehensive health management, with the long-term goal of offering universal free hospital care to all citizens.
Sci-tech, innovation, and digital transformation remain core pillars across every sector, with the Government pledging expanded support to accelerate breakthroughs and competitiveness in the fourth industrial revolution. Another focus was on cultural development and improving the material and spiritual well-being of its people.
“With a far-sighted vision, bold thinking, and determined action, we must transform challenges into opportunities and driving forces, successfully completing the goals of the 2021–2025 period and emulating to obtain greater achievements to welcome Party congresses at all levels in the lead-up to the 14th National Party Congress”, he concluded./.
National Assembly Chairman Tran Thanh Man said laws and resolutions passed during the 15th NA’s ninth extraordinary session are effectively serving the streamlining of the state apparatus toward a leaner, more efficient political system while unlocking new space for socio-economic development.
The shortening of the parliament's 15th tenure and the date for the election of deputies to the 16th-tenure NA and all-level People's Councils for 2026–2031 will also come under discussion at the approaching ninth session of the NA.
National Assembly Chairman Tran Thanh Man stressed the need for continued urgency and diligence in preparing the remaining items, particularly contentious draft laws, to ensure complete documentation.
The trip will be made at the invitations of Chinese Premier Li Qiang and WEF President and CEO Børge Brende, according to an announcement from the Ministry of Foreign Affairs.
Long spoke highly of the dynamic, positive, and comprehensive development of Vietnam – Russia relations in recent years. He affirmed that the Vietnamese Party and State place great importance on further strengthening the comprehensive strategic partnership with Russia in a substantive and effective manner, in line with the development needs of both nations.
At the conference, participants reported that the Government has so far issued 28 decrees on the delegation of responsibilities and powers between the central Government and two-tier local administrations. Several localities have already piloted the new governance model.
Reality is the ultimate benchmark for success, he said, urging drafting agencies to work out policies that foster development, reduce bureaucratic hurdles, and respect practical conditions.
Under the official dispatch signed on June 20, ministers, heads of ministerial-level agencies, and chairpersons of provincial and municipal People’s Committees are requested to concentrate efforts on implementing core measures to ensure the smooth operations of the new administrative framework.
The Party chief underscored the need for the press to innovate relentlessly, evolve to keep pace with the country's development, transform into a truly professional, humanistic, and modern sector that serves the cause of the Party, the State, and the people on the path to national construction and development.
The UN Secretary-General praised Vietnam’s remarkable achievements in socio-economic development and international integration in recent years, noting that the country has emerged as a model in implementing the Sustainable Development Goals (SDGs), promoting international peace and security, and engaging in key UN processes.
Nghia affirmed that this is a milestone of special significance, affirming and honouring the the Vietnamese revolutionary press’s glorious tradition of 100 years of serving the revolutionary cause of the Party, serving the Fatherland, and serving the people.
The Party and State of Vietnam always attach great importance to and give top priority to the development of Vietnam–China relations. Vietnam is ready to work with the Chinese Party and State to further deepen the Comprehensive Strategic Cooperative Partnership and promote the building of the Vietnam-China community with a shared future that carries strategic significance.
Under the leadership of President Ho Chi Minh and the CPV, President Cuong said, the press has been a steadfast force on the ideological and cultural front, rallying the masses to pursue national aspirations.
NA Chairman Tran Thanh Man stressed the need to accelerate the application of artificial intelligence and smart teaching equipment, innovate teaching and assessment methods, and further improve the quality of formal education.
He also pledged that the NA will promote its ongoing supervision, making sure that every promise must lead to results, and every commitment must bring about real changes.
Minister of Industry and Trade Nguyen Hong Dien welcomed the proposals put forward by the US side and reiterated Vietnam’s request for consideration of key areas of interest, including reciprocal tariff policies and access for Vietnamese key export products to the US market.
Deputy PM Le Thanh Long proposed countries promote shared values, including building trust, sincerity, and solidarity among nations and peoples; fostering cooperation spirit and responsible behaviour as well as upholding international law and the UN Charter; and placing people at the centre and as the goal, the key player, and the driving force of all policies.
The show, together with a grand parade to be held silmutaneously at Ba Dinh Square in Hanoi, will celebrate the 80th anniversary of the August Revolution, the National Day, and the General Staff of the Vietnam People’s Army (VPA).
In particular, in April 2023, the two sides successfully carried out a joint operation that dismantled a major organised, transnational drug trafficking ring involving both Vietnamese and Cambodian suspects.
The Vietnamese Embassy in Israel is closely coordinating with relevant local agencies to stay informed and provide the utmost support possible for Vietnamese nationals.
The launch of Thanh Nien (Young People) newspaper in 1925, even before the founding of the Communist Party of Vietnam, is considered a testament to President Ho Chi Minh’s strategic foresight and strong belief in the guiding power of the revolutionary media.
