The meeting brought together the Prime Minister and the Policy Advisory Council to discuss solutions for current domestic and international challenges and to ensure the effective realization of Vietnam's socio-economic development goals.

Members of the council analyzed the macroeconomic landscape, providing insights and recommendations to maintain macroeconomic stability, boost consumer demand, and ensure efficient and effective two-tier local government operations.

On macroeconomic indicators, the council noted that Vietnam's fundamentals remain stable. Credit growth is aligned with economic expansion, capital flows are mostly directed into production and business sectors, and public debt as a percentage of GDP remains within safe limits.

Vietnam's new growth drivers and quality improvements are being fueled by institutional reforms, anti-waste initiatives, business environment enhancements, increased R&D spending, green and digital transformation, and breakthroughs in science, technology, and innovation.

The country is targeting GDP growth of 8.3% to 8.5% in 2025 and double-digit growth from 2026 to 2030. These goals are considered reasonable when compared with the historical trajectories of rapidly developing economies like Japan, South Korea, China, and Taiwan.

However, areas such as exchange rates, gold prices, stock markets, and real estate demand closer attention. The council emphasized the importance of growth that is not only rapid but also risk-controlled, inclusive, and sustainable - highlighting the need for macroeconomic stability and quality growth.

Thinking ahead during calm times

Concluding the session, Prime Minister Pham Minh Chinh stressed the importance of staying composed and resilient under all circumstances. "When things are smooth, we must prepare for possible turbulence. The greater the pressure, the stronger the effort," he remarked.

Addressing the impact of U.S. tariff policies, the Prime Minister supported the council’s recommendation to diversify markets, supply chains, and products. Export strategies should align with global trends toward sustainability and digitalization, promoting circular economy principles in both imports and exports.

Regarding real estate, he reaffirmed its role as an economic growth engine, though recent performance has been below expectations. The Prime Minister called for comprehensive measures on supply-demand dynamics, fiscal policies, and land management. Legal bottlenecks must be resolved, preferential policies developed, red tape cut, and social housing promoted. He also stressed the need to reduce high-end housing inventories and ensure better real estate inventory control.

For long-term and sustainable growth, the government will pursue adaptive fiscal and monetary policies, tailored to practical conditions.

Institutional reform and digital infrastructure

The Prime Minister reiterated the need to complete institutional frameworks, develop synchronized infrastructure, train a skilled workforce, and promote digital literacy. “A digital government must be built on a digital citizen foundation,” he emphasized.

On the gold market, the Prime Minister endorsed the council's proposals and highlighted that the government has already instructed the central bank to act promptly. This includes increasing gold supply, preventing misuse of policies, cracking down on speculative investments and smuggling, and enhancing inspections.

In terms of exchange rate management, the Prime Minister emphasized maintaining interest rate stability for the Vietnamese dong, boosting exports to sustain a trade surplus, and expanding logistics and tourism services.

He also called for other priorities such as macroeconomic stabilization, proactive and flexible policymaking, and accelerated resolution of delayed public investment projects.

Tran Thuong