The official telegram said that since the beginning of 2025, the global landscape has witnessed numerous new, complex, and unpredictable developments. Strategic competition among powerful countries is fierce, strongly affecting the regions and the world. Large-scale trade wars have broken out. The global economic outlook has deteriorated significantly, causing significant difficulties and challenges.
In the country, based on practical conditions and development requirements, following the proposal of the Government and the Party Central Committee, the Politburo came to the conclusion to adjust the growth target of 8 percent for 2025 and achieve double-digit growth in the following years. On that basis, the National Assembly and the Government have issued resolutions to implement these goals.
The Prime Minister requested ministries, agencies, and localities to prioritize promoting economic growth associated with maintaining macroeconomic stability, controlling inflation, and ensuring the major balances of the economy to successfully achieve the set goals and targets.
The Prime Minister requested ministries, agencies, and localities to proactively monitor international and regional situations and develop timely, appropriate, and effective response policies. In addition, it needs to implement short- and long-term flexible and effective solutions to adapt to the US's new tariff policy. The units must focus on completing all goals and targets. 37 provinces and cities that did not achieve GRDP growth targets for 2025 in the first quarter according to the set scenario must coordinate with the Ministry of Finance to identify the causes and propose breakthrough and feasible solutions to accelerate development in the coming months and quarters this year.
On the other hand, it is necessary to review and assess the impact of the US reciprocal tariff policies on Vietnam, build fiscal policies to support businesses and workers in industries affected by tariffs, and submit a report to the competent authorities in April.
The State Bank of Vietnam is assigned to take the lead in effectively using tools for managing exchange rates and interest rates; ensuring capital needs for the economy; maintaining the stability of the monetary, foreign exchange, and gold markets and the safety of the credit institution system; reducing lending interest rates; redirecting credit into production and business sectors, priority areas, and driving forces; and promoting short-term lending to support businesses affected by US reciprocal tariffs.
The Prime Minister requested the State Bank of Vietnam to urgently study and call on banks to actively participate in developing preferential credit packages, including home loans for clients aged under 35 years, housing loans, a substantial preferential credit package of approximately VND500 trillion (US$19.44 billion) for businesses investing in infrastructure and digital technology, offering long-term financing options, and allocating a support package for the wood and seafood sectors affected by the US tariffs.
The Prime Minister also requested to continue renewing and strengthening traditional driving forces; strive to disburse 100 percent of the 2025 public investment capital assigned by the Prime Minister; use public investment to lead private investment and promote public-private partnerships; effectively exploit new growth drivers; and make breakthroughs in the development of science and technology, innovation, and digital transformation.
The Prime Minister also directed the mobilization of all available social resources for development. The Ministry of Finance is responsible for finalizing the project of the development of the private economic sector and submitting it to competent authorities for approval. The project must focus on breakthrough solutions and appropriate, feasible policies to encourage and promote a favorable and equitable business investment environment for the development of the private economy.
State-owned corporations should continue to improve the efficiency of their production and business operations and the quality of their human resources; enhance management capabilities; and focus on investing in key projects to create momentum for socio-economic development.
The Prime Minister assigned the Ministry of Finance to urgently complete a draft resolution to replace the Government’s Resolution No. 01/NQ-CP on major tasks and solutions guiding the realization of the socio-economic development and submit it to the Government. The new resolution must include adjustments to the growth scenarios for the second quarter and the remaining quarters of 2025, ensuring the 2025 GDP growth target reaches at least 8 percent.
