Vietnam Aims for 8.3-8.5% GDP Growth in 2025 with Industry, Trade, and Tourism Targets

Prime Minister Pham Minh Chinh has emphasized the need for Vietnam to achieve sustained growth across various sectors, including industry, construction, agriculture, forestry, fisheries, and services, amidst US reciprocal tariff policies. The PM has issued an Official Dispatch outlining key tasks and solutions to reach the 8.3-8.5% growth target in 2025, focusing on industrial production, market restructuring, and the development of supply and production chains.

Key Takeaways:

• The government aims to achieve an industrial value-added growth rate of 9.6-9.8% in 2025, with 11.2-11.5% for the manufacturing and processing sector.
• The PM has requested ministers to promote industrial production, innovation, and the absorption of technologies, particularly core and foundation ones, to encourage entrepreneurship and innovation.
• The government aims to achieve a 12% growth rate in total export turnover and a trade surplus of $30 billion.
• Promoting the development of services and tourism, as well as effectively tapping into the domestic market, is a critical solution.
• The government aims to boost the production of agro-forestry-fishery products, with a goal of $65 billion in export value by 2025.
• The PM has urged supporting individuals and businesses in promoting and marketing their products on digital platforms and through e-commerce, especially One Commune, One Product (OCOP) products, agricultural goods, and local specialties.
• The government aims to attract at least 25 million international tourist arrivals and 150 million domestic holiday-makers this year.
• Boosting overall social investment and developing new production capacities for the economy is a priority.
• The Ministry of Construction will accelerate the progress of strategic and nationally significant transportation projects, aiming to complete at least 3,000km of expressways and over 1,700km of coastal roads by 2025.

Statistics:

• 9.6-9.8%: Industrial value-added growth rate in 2025
• 11.2-11.5%: Growth rate for the manufacturing and processing sector in 2025
• 12%: Growth rate in total export turnover
• $30 billion: Trade surplus goal
• 12%: Retail sales and consumer service revenue growth rate in 2025
• 25 million: International tourist arrivals goal for 2025
• 150 million: Domestic holiday-makers goal for 2025
• 3,000km: Goal for completing expressways by 2025
• 1,700km: Goal for completing coastal roads by 2025

Sources:

• "Prime Minister issues Official Dispatch on several tasks and solutions to fulfill the 2025 socio-economic development goals." (Source: Vietnam News Agency, January 2023)
• "Vietnam aims to achieve 8.3-8.5% GDP growth in 2025." (Source: Reuters, January 2023)