Vietnam adjusts 2025 socio-economic development plan

(SGI) - Vietnam’s 15th National Assembly yesterday passed a resolution adjusting the 2025 socio-economic development plan, which sets a growth target of at least 8 per cent.

Vietnam adjusts 2025 socio-economic development plan

Changes were incorporated into many key development targets at the Assembly’s ninth extraordinary session.

The gross domestic product (GDP) growth rate is now set to reach 8 per cent or higher, with the GDP scale this year expected to exceed $500 billion. The GDP per capita is projected to surpass $5,000, and the average consumer price index (CPI) growth rate is targeted at 4.5-5 per cent.

The legislation accorded top priority to improving institutional and legal frameworks and law enforcement.

The focus on resource allocation includes completing strategic infrastructure systems; clearing obstacles and effectively utilising public investment; reforming administrative procedures; improving the investment and business environment; and strengthening and renewing traditional growth drivers, domestic media outlets reported.

The document also stresses the necessity for a strong motivation to promote new growth drivers; develop new, advanced productive forces; and create breakthroughs in the development of science, technology, and digital transformation.

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