Hanoi (VNA) – Director General of the National Statistics Office Nguyen Thi Huong provided an overview of the country's economic performance during the first three months of the year at a press conference on first-quarter socio-economic statistics on April 4.
Against a backdrop of persistent global uncertainty, marked by escalating armed conflicts and geopolitical tensions, Vietnam's GDP growth of 7.83% demonstrated the economy's resilience and concerted efforts of the political system, businesses and the public.
Maintaining macroeconomic stability
According to the NSO, key economic indicators suggest that macroeconomic fundamentals remain stable, while inflation has been kept within the Government's target range.
The agriculture-forestry-fisheries sector once again proved to be a reliable pillar of the economy, helping to ensure food security, maintain supplies of essential goods and contribute significantly to export earnings.
At the same time, the strong recovery of industrial production and effective utilisation of free trade agreements (FTAs) helped sustain positive growth in external trade.
However, experts and policymakers held that significant challenges remain in the second quarter and the remainder of 2026. As a highly open economy, Vietnam remains vulnerable to fluctuations in global markets and external shocks.
To address these challenges, the NSO has recommended six key policy directions.
The first priority is to preserve macroeconomic stability and safeguard major economic balances.
Particular attention should be paid to the management of prices of state-regulated goods, including electricity, healthcare and education services. Any price adjustments should follow a carefully planned roadmap to avoid simultaneous increases that could place upward pressure on the Consumer Price Index (CPI). The flexible use of tax policies, fees and the petrol price stabilisation fund is also viewed as an important tool for mitigating the impact of global energy price volatility on domestic production costs.
Alongside maintaining macroeconomic stability, accelerating the disbursement of public investment is seen as a crucial catalyst for mobilising broader social and private-sector resources. Beyond public investment, Vietnam is also presented with a significant opportunity to attract high-quality foreign direct investment (FDI). This is not merely a matter of achieving short-term growth; it is a strategic pathway to enhancing the position of domestic enterprises within global value chains.
Creating new growth drivers
The third policy group focuses on boosting domestic consumption and strengthening distribution networks. Trade promotion activities should become more professional and make greater use of digital platforms and e-commerce channels to connect producers directly with consumers.
Tourism is another area identified as having substantial growth potential, provided that product quality is improved and destination marketing efforts are intensified.
The fourth measure centres on exports. Vietnam is encouraged to diversify both export markets and products sustainably, while maximising opportunities provided by existing FTAs.
To overcome increasingly stringent technical and environmental requirements in major markets such as the US and the EU, domestic enterprises will need support in meeting green standards and sustainability benchmarks. Modernising logistics infrastructure will also be essential to lowering transport costs and enhancing the competitiveness of agricultural and manufactured exports.
The fifth recommendation is to develop new growth engines, including green economy, circular economy, night-time economy and sharing economy.
Finally, the statistics office stressed the importance of maintaining vigilance against disease outbreaks and natural disasters.
Huong also underscored the importance of social welfare, labour and employment policies to ensure social stability and improve people's living standards./.
