Speaking at the Government’s online conference with localities for September 2025 chaired by Prime Minister Pham Minh Chinh on the morning of October 5, Minister of Industry and Trade Nguyen Hong Dien noted that over the past nine months, global developments remained complex, posing many challenges. Domestically, Vietnam has focused on reorganizing and consolidating its apparatus while steadily implementing important activities and events of the Party.

Natural disasters have also had considerable impacts on production and people’s livelihoods. However, the overall results reported so far are highly encouraging even exceeding expectations. These efforts have led many international organizations to revise upward their forecasts for Vietnam’s economic growth, while forecasts for many other countries have been lowered.

In the industry and trade sector, September recorded high growth of 13.6% year-on-year. For the first nine months of 2025, the growth rate reached 9.1%, nearly matching the planned scenario. The processing and manufacturing industry increased by 10.4%, compared to 9.9% in the same period last year, the highest growth rate since the start of the current government term.

Domestically, total retail sales of goods and services in September rose nearly 2% from the previous month and 11.7% year-on-year. For the nine-month period, the growth reached 9.5%, higher than the 8.8% recorded in the same period last year. The supply of goods remained abundant and prices stable, meeting production and consumption needs without shortages, even in areas affected by natural disasters.

Power and petroleum supplies were ensured, while e-commerce maintained strong growth of around 22-23%. Import-export continued to be a bright spot of the economy. In September alone, total import-export turnover reached USD 82.5 billion. For the first nine months, the figure rose to USD 680.66 billion, up 17.3% year-on-year far exceeding the planned increase of 12%.

“If there are no major fluctuations, this year’s total import-export turnover is expected to reach a record high of over USD 900 billion, with a trade surplus of about USD 20 billion,” Minister Nguyen Hong Dien said.

Five key solutions and three proposals to the Government and localities

However, the Minister warned that uncertainties remain in the last three months of the year. Global tensions, especially conflicts and wars may disrupt raw material supply chains and production. Inflation is on the rise, while importing countries are setting up more technical barriers, posing challenges to exports. Natural disasters also continue to be a major risk.

To ensure annual targets are met, Minister Nguyen Hong Dien proposed several measures to stabilize production, secure supply sources, and promote trade in the final months of 2025.

First, continue to implement urgent measures to address difficulties, restore production and business for enterprises, and stabilize people’s lives after the recent storms, especially storms No. 10 and No. 11, as stated in the Government’s August Resolution. He suggested establishing working groups led by Government members to directly assist localities in resolving difficulties and fulfilling assigned targets.

Second, further remove institutional bottlenecks to fully unlock resources for economic growth this year and lay the foundation for next year by expediting revisions to laws, introducing “one law amending multiple laws,” and promptly institutionalizing  to address legal obstacles.

Third, strengthen support for two-tier local governments to enhance operational efficiency and achieve stronger results amid broader decentralization and delegation of authority to grassroots levels.

According to Minister Nguyen Hong Dien, the driving force for achieving the set goals must come from local governments. All localities have completed their Party congresses, set clear development goals and directions, and stabilized their personnel structures, creating a firm foundation for implementation of socio-economic objectives.

Fourth, accelerate public investment disbursement and expedite implementation of major projects nationwide to mobilize resources for development, stimulate domestic consumption, and enhance cooperation in science and technology with partners. The Government should promptly address difficulties at ongoing projects to bring them into operation soon.

Fifth, the Government, ministries, and localities should continue to support businesses, manufacturers, and industry associations in accessing domestic and foreign markets through trade fairs and promotional events, such as the 2025 Autumn Fair. Enterprises should also be facilitated to attend regional trade fairs particularly in ASEAN, China, and South Korea and to maximize the benefits of existing FTAs.

“Negotiations for two new FTAs with the Gulf Cooperation Council (GCC) and Mercosur will be launched this month. In October, a delegation from the Ministry of Industry and Trade will begin negotiations for an FTA with Pakistan, aiming to complete it within three months. Pakistan, with a population of 240 million, represents a promising market for Vietnam’s export structure,” the Minister noted.

Minister Nguyen Hong Dien also made three recommendations to the Government and localities:

First, the Government should promptly issue regulations on staffing structures for local governments at both provincial and communal levels, ensuring efficient and effective operation.

Second, relevant agencies should urgently address technological issues to synchronize and operate the e-Government and digital government system nationwide. Although the Ministry of Science and Technology confirmed that the technical capacity exists, coordination among agencies must improve to ensure smooth data connectivity.

Third, provinces should promptly adjust their provincial master plans after mergers to align with national sectoral plans, ensuring readiness to receive and effectively implement investment projects particularly in energy, mining, industry, and services.

Regarding Quang Ninh’s proposal to increase electricity output, Minister Nguyen Hong Dien said the request was reasonable. Electricity cannot be stockpiled for later use, so efficient and timely mobilization of hydropower and coal resources is essential.

As for Quang Ngai’s proposal on establishing the National Refining and Energy Center in Dung Quat Economic Zone, the Minister said the Prime Minister had already directed the Ministry to finalize the proposal, including special mechanisms and policies. The Ministry of Finance has provided its feedback, while the Ministries of National Defense and Public Security are completing their reviews before submission to the Prime Minister for final decision.

Minister Nguyen Hong Dien affirmed that with determination and coordinated efforts across all levels, the industry and trade sector will continue to contribute significantly to Vietnam’s record-breaking import-export performance in 2025.