At the 8th session of the 15th National Assembly (Photo: quochoi.vn)

The government report showed that, despite unpredictable, unprecedented changes in the world, the Government and the Prime Minister have closely followed the situation inside and outside Vietnam and promptly implemented resolute, flexible measures to achieve the set targets. These are a solid foundation for achieving future breakthroughs and accomplishments.

Key achievements

The Government report highlighted positive socio-economic indicators across the board. The economy grew, with 14 out of 15 annual targets met or exceeded.

Prime Minister Chinh said: “The macroeconomy remained stable, inflation was under control, economic growth outpaced projections, and major economic balances were ensured. Public debt, government debt, foreign debt, and the state budget deficit were all well managed and kept below permissible limits. GDP growth in the past nine months was 6.82%, with an estimated full-year growth of 6.8-7%, surpassing the National Assembly's target of 6-6.5%. Vietnam is among the countries with the highest growth rates in the region and globally, earning recognition from major international organizations.”

The report emphasized progress in institutional and legal reforms, with public investment focused on key projects. Significant efforts included the advancement of critical energy projects and the completion of the 500kV Circuit 3 Project from Quang Binh to Hung Yen provinces in just over six months. Foreign direct investment was a highlight, with realized capital up 8.9% to 17.3 billion USD – the most in recent years, even as global investment declined.

Prime Minister Pham Minh Chinh speaks at the 8th session of the 15th National Assembly (photo: quochoi.vn)

Social security was maintained, with sustainable poverty reduction programs ensuring that "no one is left behind." The poverty rate fell, and Vietnam’s Happiness Index ranking rose 11 places. National defense and security were strengthened, while foreign relations and international integration remained strong, enhancing Vietnam's global standing. Vietnam played an active role in addressing regional and global issues, earning international praise.

Mr. Chinh said: “These successes can be attributed to the spirit of unity – within the Party, among the people, and with the international community. We have implemented creatively, and effectively Party guidelines and State policies, and promptly responded to new, difficult issues. We have combined national strength with global trends, with internal strength serving as the fundamental, long-term strategy and a decisive factor, and external strength as an important, necessary, regular, and breakthrough factor. Our strength comes from the people who are the ones who make history. We are centered on the people and consider them the master and the most important driving force of national development."

Focusing resources to enable the nation to make breakthroughs and rise

Prime Minister Chinh said the Government is determined to meet and exceed all set targets, maintain momentum, and sustain development to secure stable growth and achieve significant breakthroughs in 2025 and beyond.

“We will continue to promote economic growth, maintain macroeconomic stability, control inflation, ensure the economy's major balances, fine-tune legal and institutional frameworks, develop infrastructure, enhance human resource quality, and foster innovation, science, technology, digital and green transformation, and the circular economy. The government will also enhance cultural development, ensure social security, improve people's livelihoods, and strengthen the fight against corruption, waste, and negativity. We will continue to bolster national defense, protect independence and sovereignty, maintain political security and social order, and enhance foreign affairs and international integration to raise Vietnam's global status,” said PM Chinh.

The Prime Minister highlighted 11 key tasks and solutions to achieve the GDP growth target of 6.5-7% this year, paving the way for even higher growth of 7-7.5% next year. Vietnam aims to rank 31st to 33rd globally in GDP by 2025.

Mr. Chinh said Vietnam is at a critical juncture for achieving breakthroughs in the 2024 and 2025 plans, as well as in the 2021-2025 period.

The Government is directing ministries, sectors, and localities to promote solidarity; foster a spirit of innovation, creativity, bold thinking, and self-reliance; turn challenges into opportunities; and take resolute action to achieve the set goals so that Vietnam can enter a new era of national growth and affirm its position on the global stage.