Vietnam finance enjoying macro stability, sustainable growth entering 14th term

Minister of Finance Nguyen Van Thang noted that despite unpredictable global and domestic fluctuations causing difficulties, the sector overcame these challenges. Thanks to the entire political system’s concerted efforts and the Finance sector’s proactive, flexible direction, state budget management achieved outstanding comprehensive results.

All major targets for the 2021–2025 period were completed successfully. Consequently, financial and state budget resources were managed, mobilized, and utilized with increasing efficiency, contributing significantly to the nation's socio-economic development goals. Specifically:

1. The finance sector has promptly advised and implemented plans, mechanisms, policies, and solutions for socio-economic development, promoting growth tied to macroeconomic stability. The average state budget deficit for the 2021–2025 period is approximately 3.1–3.2 percent of GDP; public debt is estimated at about 35–36 percent of GDP, well-controlled, contributing to consolidating the national credit rating.
2. The legal system on finance and the state budget has been focused on perfection. In the 2021–2025 period, the Ministry of Finance submitted for promulgation of 32 laws and resolutions of the National Assembly and the NA Standing Committee, 168 decrees, while issuing 436 circulars under its authority. These focused on removing bottlenecks, promoting decentralization, reducing administrative procedures, and meeting development requirements in the new phase.
3. Revenue management has been strengthened, with the state budget revenue structure focused on sustainability. The average state budget mobilization rate over five years reached about 18.3 percent of GDP. Simultaneously, tax and fee exemptions, reductions, and extensions amounting to approximately VND1.1 quadrillion (US$41.9 billion) were implemented to support people and businesses in overcoming challenges caused by the pandemic and recovering production and business post-pandemic.
4. The finance sector achieved revenue increases and expenditure savings of about VND1.5 quadrillion ($57.1 billion) to supplement resources for development investment, national defense, security, science-technology, wage reform, social security, eliminating dilapidated houses, and building schools in border areas.
5. The proportion of development investment expenditure nationwide increased to about 32 percent of total state budget expenditure, arranged with focus and key points, ensuring resources for strategic infrastructure projects with high spillover effects.
6. The investment and business environment continues to improve, strongly encouraging the development of economic sectors. Currently, there are over 1 million active enterprises nationwide, an increase of over 46 percent compared to 2020; total social investment capital in the 2021–2025 period reached about 32.2 percent of GDP, with the private sector and state-owned enterprises accounting for over 65 percent.
7. Vietnam continues to be a bright spot in attracting foreign investment, ranking among the top 15 developing countries attracting the largest FDI globally; FDI capital contributes about 16 percent to total social investment capital.
8. Capital markets have developed towards safety, sustainability, and integration, gradually becoming important capital mobilization channels for the economy. By the end of 2025, the bond market scale reached about VND3.93 quadrillion ($150 billion), equivalent to 30.7 percent of GDP; stock market capitalization reached nearly VND10 quadrillion ($380.7 billion), equivalent to 77.9 percent of GDP. In 2025, Vietnam’s stock market met all criteria and was upgraded from a frontier market to an emerging market.
9. The finance sector actively promotes regional economic development, new industries, fields, and economic models; participates in building the International Financial Center and free trade zones; and coordinates effectively in social security work, ensuring economic growth tied to social progress and fairness.

The Finance Minister then mentioned the focused tasks and solutions of the finance sector in the upcoming time to stabilize the national macro-economy and promote rapid and sustainable growth.

The Ministry prioritizes a proactive, focused fiscal policy coordinated with monetary measures to ensure macroeconomic stability and drive double-digit growth. It balances Central budget leadership with local initiative. Regarding revenue and expenditure, the focus is on efficiency and sustainable collection.

Key targets for 2026–2030 include a budget mobilization rate of 18 percent of GDP and increasing development investment to 40 percent of total expenditure. Furthermore, strict debt control aims to boost national credit ratings.

Simultaneously, the Ministry will perfect financial legal systems, drive digital transformation, and enhance administrative reform to significantly boost overall management capacity and operational efficiency.

Minister Nguyen Van Thang affirmed the finance sector will enhance the state economy’s efficiency in strategic industries while strongly developing the private sector. The goal is to reach 2 million active enterprises by 2030, leading ASEAN in innovation and digital transformation.

Simultaneously, capital and stock markets will serve as crucial medium and long-term mobilization channels, capitalizing on market upgrades and new legal frameworks for digital assets.

Regarding FDI, Vietnam prioritizes selectively attracting large-scale, high-tech, and eco-friendly projects. Furthermore, strengthening linkages between domestic and foreign enterprises remains essential to deepen the nation's participation in global value and supply chains.