Prime Minister Pham Minh Chinh has issued Official Dispatch No 137/CĐ-TTg on accelerating economic growth next year to achieve a gross domestic product (GDP) expansion rate of 8 percent or higher.
Stressing that 2025 is a milestone year for Vietnam to embark on a new era of development – the era of the nation’s rise, the PM asked for drastic efforts by relevant ministries, agencies, provinces and cities to promote socio-economic development.
The focus will be on strengthening economic growth in line with stabilising the macroeconomy, controlling inflation, ensuring major balances to achieve a GDP growth rate of more than 8 percent in 2025, higher than the National Assembly’s target at 6.5-7 percent.
Specifically, Hanoi and Ho Chi Minh City must strive to achieve a growth rate of around 8-10 percent.
The PM also asked for efforts to renew traditional growth drivers, including investment, consumption and exports.
With regard to investment, the PM asked the disbursement and efficient of public investment to be increased. The Ministry of Planning and Investment will be in charge to develop mechanism to attract foreign investment, focusing on large-scale and high – technology projects.
Besides, it is necessary to promote and create breakthroughs for new growth drivers, including digital transformation, circular economy and new industries such as semiconductor, artificial intelligence, cloud computing, Internet of Things as well as green transition.
A sandbox for circular economy will be submitted to the Government in the first quarter of next year. Vietnam will also issue green taxonomy to promote green transition.
Another important focus is to strengthen the development of the strategic infrastructure system including high-speed railway, urban railway in Hanoi and Ho Chi Minh City, railways connected with China and Long Thanh International Airport.
Efforts are also needed to speed up the resumption of nuclear power plants, the construction of international financial centers in Ho Chi Minh City and Da Nang and the foundation of free trade zones in several localities.
The Ministry of Information and Communications must focus on developing the national digital infrastructure system, including the commercialization of 5G and development of 6G.
