Bright spots in economic growth

On the morning of February 27, at the National Assembly House, the Party Committee of the National Assembly Office, in coordination with the Central Commission for Information and Education and Mass Mobilization, held the National Conference of Central Reporters for March 2026 and launched an online contest on learning about the election of deputies to the National Assembly and People’s Councils at all levels for the 2026-2031 term.

Presenting an overview of Vietnam’s socio-economic performance in 2025, as well as forecasts and key solutions to achieve double-digit growth in 2026, Deputy Minister of Finance Tran Quoc Phuong stated that the country’s socio-economic situation in 2025 continued to recover positively, improving month by month and quarter by quarter, with all 15 out of 15 major targets met and exceeded.

For the 2021-2025 period as a whole, Vietnam fulfilled and surpassed 22 out of 26 key socio-economic indicators, including the completion of all social targets. In both 2024 and 2025, all 15 major socio-economic indicators were achieved and exceeded.

These accomplishments are considered historic milestones in national socio-economic development, enhancing Vietnam’s position and prestige and creating new opportunities and favorable conditions for the country to advance toward the goals set by the 13th National Party Congress: becoming a developing country with modern industry and upper-middle income by 2030, and a developed, high-income nation by 2045.

According to the Deputy Minister, the economy has demonstrated a clear recovery, emerging as a bright spot in growth and ranking among the world’s high-growth economies. Economic scale and capacity have continued to expand, while macroeconomic stability has been maintained, inflation kept under control, and major balances ensured despite global volatility and challenges.

Economic growth in 2025 exceeded 8%, projected to be the highest in the region and among the fastest globally, earning high praise from the international community. GDP reached USD 514.4 billion, ranking 32nd worldwide, up one place from 2024. GDP per capita surpassed USD 5,026, 1.4 times higher than in 2020, placing Vietnam in the upper-middle-income group.

Vietnam’s long-term sovereign credit rating in 2024 was maintained at BB+ with a “stable” outlook. International organizations have positively assessed the Government’s management efforts, credit rating improvements, and growth prospects.

For instance, the International Monetary Fund (IMF) ranked Vietnam among the world’s top 10 fastest-growing economies; Standard Chartered projected Vietnam to be among the five fastest-growing economies in Asia; and the World Bank’s B-Ready 2025 report placed Vietnam among 21 economies with outstanding performance in 2025.

Average inflation rose by 3.21%, remaining below the target assigned by the National Assembly, despite adjustments to electricity prices and state-managed service fees in healthcare and education. This reflects the Government’s close monitoring of price management and efforts to safeguard people’s livelihoods.

State budget revenue in 2025 reached approximately VND 2.65 quadrillion, exceeding estimates by 34.74% and rising 30.3% year-on-year, surpassing the Government’s target (at least 25% above estimates), even as tax and fee reductions and deferrals totaling about VND 250.9 trillion were implemented to support production and business.

Resources were ensured for national defense, social security, public administration, and infrastructure development, including the allocation of 3% of total state budget expenditure to implement Politburo Resolution No. 57-NQ/TW.

Budget deficit, public debt, government debt, and external debt all remained below the National Assembly’s warning thresholds. Supply-demand balances were fundamentally secured. Total import-export turnover in 2025 surpassed USD 930 billion, up 18.2% from 2024, placing Vietnam among the world’s top 20 trading economies.

The domestic market maintained steady growth, while tourism recovered strongly. Total retail sales of goods and consumer service revenue rose by over 9% year-on-year, and international arrivals reached approximately 21.17 million, the highest level on record.

Energy and food security were ensured, while agricultural exports were further promoted. Total export turnover of agro-forestry-fishery products reached a record USD 70.09 billion, up 12% year-on-year and exceeding the target of USD 65 billion. The trade surplus in this sector also hit a new record of over USD 20 billion.

The number of newly established and reactivated enterprises in 2025 reached nearly 297,500, the highest ever, up 27.4% from 2024. As of now, nearly 1.02 million enterprises are operating nationwide, an increase of over 160,000 compared to 2024.

Total social investment in 2025 was estimated at over VND 4.15 quadrillion, equivalent to 32.3% of GDP, up 12% year-on-year. Public investment disbursement reached 94.8% of the Prime Minister’s assigned plan by the end of January 2026. For the 2021-2025 period, total public investment amounted to around VND 3.4 quadrillion, nearly 55% higher than the previous period, with funds concentrated on key national projects that significantly contributed to growth.

An Attractive Destination for Investors

Deputy Minister Tran Quoc Phuong noted that amid a global decline in FDI flows due to shifting investment trends, geopolitical volatility, and U.S. tariff policies, Vietnam has remained an attractive destination for foreign enterprises and investors.

In 2025, total registered FDI exceeded USD 38.4 billion, while disbursed FDI reached USD 27.62 billion, up 9% despite the global contraction in FDI. Vietnam ranked among the top 15 developing countries in FDI attraction, with many major projects focused on modern and emerging industries such as semiconductors and artificial intelligence.

Initial steps have been taken to establish an international financial center in Ho Chi Minh City and a regional financial center in Da Nang. This is regarded as a major political decision to prepare for a new development era, creating new mechanisms and resources to provide a strong boost to the national economy and lay a solid foundation for future growth.

The stock market is expected to be upgraded by FTSE to secondary emerging market status. By the end of 2025, total market capitalization reached nearly VND 9.98 quadrillion, equivalent to 77.9% of GDP.

In 2025, institutional and legal reforms were strongly prioritized as a central focus of comprehensive reform efforts, creating a transparent and conducive legal environment for development.

The Government submitted 99 draft laws and resolutions to the National Assembly for approval and issued 377 decrees, the highest number ever along with six resolutions under Resolution No. 206/2025/QH15 to address legal bottlenecks and unlock resources in line with breakthrough resolutions of the Politburo.

Several key laws were passed, including the Law on the State Budget and amendments to eight laws on investment and bidding, helping to remove obstacles in project implementation. These efforts also demonstrate the Government’s determination to overcome fragmented and inefficient investment practices, focusing instead on major, nationally significant projects.

Administrative and procedural reforms were also vigorously implemented, simplifying numerous procedures and creating a more favorable business and investment environment.

As of December 24, 2025, the Prime Minister and relevant ministries had approved plans to cut and simplify 3,085 out of 4,888 administrative procedures related to production and business (63.1%) and 2,371 out of 6,974 conditional business requirements (33.9%).