Resolution No. 19-NQ/TW, adopted at the third plenum of the 14th Party Central Committee, identifies breakthroughs in institutions and reforms as the starting point for renewing Vietnam’s development model, alongside reforms in national governance, organisation and operations to build new development capacity.
The business community will play a leading role in driving double-digit economic growth in 2026 and the following years, Prime Minister Pham Minh Chinh told a conference in Hanoi on March 27.
Speaking at the Government’s regular press conference on January 8, Deputy Minister of Finance Nguyen Duc Chi said that the solutions include further improving institutions and legal frameworks to remove bottlenecks and shift governance from control to facilitation; mobilising and efficiently allocating development resources, with public investment playing a leading role.
The year 2025 marked a pivotal stage for Vietnam’s economy, concluding the 2021–2025 socio-economic development plan while laying the groundwork for a new growth strategy. Despite global uncertainties, Vietnam posted strong results, underscoring effective macroeconomic management and a clear repositioning of growth drivers.
Despite numerous difficulties, thanks to efforts by the entire political system and all people under the leadership of the Party, headed by General Secretary To Lam, the socio-economic situation remains positive with better results recorded in most fields month over month and over the same period last year.
As traditional growth engines—natural resources, public investment, low-cost labour, and low-value exports—wane, Vietnam must shift toward transformative drivers, some experts have said.
Credit for the individual customer segment last year slowed, while GDP last year recorded a strong recovery and household income growth remained low.
Prime Minister Pham Minh Chinh highlighted the need to renew traditional growth drivers and promote new ones, especially national digital transformation, in order to bolster growth in the remaining months of 2024 and the following years, while chairing the Government’s October regular meeting on November 9.
Prime Minister Pham Minh Chinh on September 21 asked the Deputy PMs, ministers, and heads of the sectors to thoroughly deal with difficulties facing businesses, explaining that settling their difficulties means coping with those of the economy, and the growth of businesses is the way to the country's development.
Prime Minister Pham Minh Chinh chaired the fourth meeting of the Coordinating Council for the Southeastern Region in Ho Chi Minh City on August 10, sketching out ways for fueling regional development.
Prime Minister Pham Minh Chinh on August 5 requested the continued implementation of a proactive, flexible, timely, effective monetary policy which has proven its efficiency in the past time.
Prime Minister Pham Minh Chinh on June 1 demanded efforts be invested in renewing traditional growth drivers and strongly promoting new ones.
