Vietnam prepares best conditions to spur economic growth: forum
Vietnam has prepared the best conditions to spur its economic growth as the global economy is grappling with the severe impacts of the COVID-19 pandemic, experts have said.
Tran Hong Quang, Director of the Vietnam Institute for Development Strategies, speaks at the forum (Photo: vneconomy.vn)
HCM City (VNA) – Vietnam has prepared the best conditions to spur its economic growthas the global economy is grappling with the severe impacts of the COVID-19 pandemic, expertshave said.
At the VietnamEconomic Scenario Forum in Ho Chi Minh City on January 11, the experts said Vietnam has mapped out asocio-economic development strategy for 2021-2025. Vietnam aims to become a developingcountry with a modernity-oriented industry by 2025 and a developing nation witha modern industry and high middle income five years later.
Tran Hong Quang,Director of the Vietnam Institute for Development Strategies under the Ministryof Planning and Investment, said the country’s GDP growth rate is projected atabout 7 percent annually in the 2021-2030 period. Its GDP per capitais set at 4,700-5,000 USD in 2025, and around 7,500 USD in 2030, he added.
To that end, Vietnamshould boost key economic sectors that would serve as the driver of thenational economy, and complete the restructuring of State-owned enterprises, hesuggested.
The country needsto swiftly complete the infrastructure system, particularly in transport,energy, IT, major urban areas, and climate change response, according to Quang.
Other expertssuggested enhancing the private economic sector in terms of volume, quality,efficiency and sustainability, making them become an engine of the nationaleconomy.
Some said the selectionof foreign investments would help Vietnam attract projects with hightechnologies, modern governance and connected with the global supply chains.
Nguyen Xuan Thanh,a member of the Prime Minister’s Economic Advisory Group, held that thenational economy will be driven by the domestic market, private investments andexports to the EU and ASEAN this year.
Pham Thanh Ha, Director of the central bank's Monetary Policy Department, speaks at the forum. (Photo: vneconomy.vn)
Pham Thanh Ha, Director of the StateBank of Vietnam (SBV)'s Monetary Policy Department, said the central bankwill continue to manage the monetary policy proactively and flexibly.
Andy Ho, Managing Director and Chief Investment Officer of VinaCapital, said Vietnam’s enhanced prestige in theinternational arena has helped to lure foreign investment to the country./.
The Vietnam Report JSC and VietNamNet newspaper announced the top 500 largest enterprises in Vietnam (VNR500) in 2019 at a ceremony in Hanoi on January 9.
Vietnam has been hit hard by the current novel coronavirus pandemic (COVID-19), but it will show signs of recovery in the post-coronavirus period, the World Bank said in its Vietnam Macro Monitoring report for May.
In the first four months of 2020, committed foreign direct investment (FDI) amounted to US$12.3 billion, a year-on-year decrease of 15.5%. Surprisingly, the value of FDI commitment rebounded in April, up by 81% over March 2020.
Vietnam’s economy could grow bigger than Singapore by 2029, the UK-based Global Business Outlook recently cited the Development Bank of Singapore (DBS)’s report.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Tran Hong Quang, Director of the Vietnam Institute for Development Strategies, speaks at the forum (Photo: vneconomy.vn) 
Pham Thanh Ha, Director of the central bank's Monetary Policy Department, speaks at the forum. (Photo: vneconomy.vn) 
