Opening session of the 9th extraordinary session of the 15th National Assembly, February 12, 2025. Photo: quochoi.vn

2025 GDP size is projected to be over 500 billion USD, GDP per capita over 5,000 USD, and the average consumer price index (CPI) growth rate to reach 4.5-5%, according to the growth scenario for 2025 presented by Minister of Planning and Investment Nguyen Chi Dung at the opening session of the National Assembly’s 9th extraordinary session.

The Government proposed that the National Assembly revise up this year's GDP target to 8% or more, higher than the previous target of 6.5 to 7.5%. 

“The national GDP growth 2025 needs to reach 8% or more, contributing to creating a solid foundation to achieve double-digit growth from 2026. Growth must be fast but sustainable, with macroeconomic stability maintained, inflation controlled, and major balances ensured. There must be harmonious development between economy, society and environmental protection, while national defense and security are protected,” Minister Dung said.

Minister of Planning and Investment Nguyen Chi Dung presents the Proposal on the Additional Project on Socio-Economic Development in 2025. Photo: quochoi.vn

Deputies said the growth target of 8% represents great determination, suggesting that the Government more clearly demonstrate new solutions with breakthrough reforms, while promoting the growth-leading role of regions, economic corridors and growth poles.

Truong Trong Nghia, a deputy of Ho Chi Minh City, said, “The Party and State leaders have correctly assessed that the country cannot keep developing as before. The development path already exists, but the way of doing things, the way of operating, the way of administration cannot be the same. This is a huge motivation. If we take advantage of the opportunity and the achievements of science and technology and are aware of the problem, we will have more motivation achieve the growth target of 8% or more in 2025.”