On the occasion of the New Year 2026, Prime Minister Pham Minh Chinh granted an exclusive interview to the Vietnam News Agency. Below is the full transcript of the Prime Minister’s remarks.

Reporter: Over the past five years and particularly in 2025, both domestic and global conditions faced unprecedented challenges. Yet under the firm leadership and resolute governance of the Government and the Prime Minister, Vietnam has overcome severe headwinds to make significant socio-economic strides and strengthen national capacity and stature. Could you share the key accomplishments of this term?

Prime Minister Pham Minh Chinh: Since the start of this term, the global landscape has evolved rapidly, complexly, and unpredictably. New, unprecedented, and unforecastable issues have emerged-most notably the prolonged aftermath of the COVID-19 pandemic, escalating strategic competition between major powers, widespread conflicts and political instability, non-traditional security threats, natural disasters, and worsening climate change. These trends have driven down growth, pushed inflation high, and sent public debt in many countries beyond safe limits.

Domestically, we faced a “dual shock”: external challenges and long-standing internal inefficiencies. Overall, difficulties and challenges outweighed opportunities and advantages.

Against that backdrop, under the leadership of the Party, the Government led by the Prime Minister pursued the operating philosophy of being proactive, flexible, creative, decisive, and effective-guided by the mantra “discuss only to act, not to retreat.” We pushed for institutional reforms and policy breakthroughs to turn crises into turning points. We swiftly adapted, recovered from the pandemic, and were among the five countries with the highest vaccine coverage. Our COVID-19 death rate stood at 0.37%, well below the global average of 1%, laying the foundation to shift from a “zero COVID” policy to one of safe, flexible adaptation. We then rolled out recovery programs to promote socio-economic growth.

We focused on removing bottlenecks in business operations, mobilized and utilized all resources effectively, and prioritized growth while maintaining macroeconomic stability, controlling inflation, and safeguarding major economic balances. We also invested in culture, social welfare, and the environment, strengthened national defense, security, and foreign affairs, and preserved a peaceful, stable development environment.

Institutional reform and the comprehensive overhaul of local government structures were major governance highlights in 2025. The Government guided the formulation of ten strategic resolutions-seven have been issued and three are in progress. These cover key sectors and were translated into legislative and executive actions. We submitted more laws and resolutions to the National Assembly, and enacted more decrees than any previous term.

In terms of administrative reform, we streamlined the two-tier local government system, reduced the state administrative workforce by 145,000, and slashed regular expenditures by USD 1.6 billion annually. Local governance transitioned from administrative control to serving the people and enabling development. We cut thousands of business conditions and administrative procedures, significantly reducing costs and processing times.

Thanks to the concerted efforts of the political system, the people, and the business community under the Party’s leadership, Vietnam’s socio-economic landscape continued to improve. Month by month, year by year, and term by term, we saw steady progress. All 15 key targets for 2025 were met or exceeded, helping fulfill the goals of the 2021–2025 term.

Highlights include GDP growth reaching 8.02% in 2025-among the highest globally-while macroeconomic stability was maintained. Inflation was kept at 3.31%, and fiscal indicators remained below legislated thresholds. Budget revenue hit a record USD 110.2 billion, 34.7% above the estimate and 30% higher than in 2024. FDI inflows reached USD 38.4 billion, with disbursed capital at USD 27.62 billion-both the highest ever. Total FDI for the term surpassed USD 184 billion, ranking Vietnam among the top 15 FDI destinations in the developing world.

Foreign trade volume hit a record USD 930 billion in 2025, with agricultural exports exceeding USD 70 billion for the first time. GDP totaled over USD 514 billion, and GDP per capita surpassed USD 5,000-1.4 times the 2020 figure-officially elevating Vietnam to upper-middle income status. Nearly 298,000 new businesses were established or resumed operations, 1.3 times the number that exited the market. We now have over 1 million active enterprises, 20% more than in 2020, affirming the private sector as a key economic driver per Politburo Resolution 68.

Qualitatively, growth improved. Total factor productivity contributed 47% to growth, exceeding the 45% target. Vietnam ranked 44th out of 139 economies in the 2025 Global Innovation Index. Our economy continued shifting toward industrialization and modernization, with industry and services growing to 80.4% of GDP while agriculture declined to 11.6%.

Stalled and inefficient projects were tackled decisively, freeing up resources and boosting growth. Strategic infrastructure saw major breakthroughs. Thousands of kilometers of highways and coastal roads were built. Public investment totaled USD 141.3 billion-up 55% from the previous term. The number of central government-funded projects dropped from 11,000 to 4,600. By the end of 2025, we had completed over 3,345 km of expressways and 1,711 km of coastal roads-exceeding Party Congress targets.

In 2025 alone, we launched or inaugurated 564 major infrastructure projects worth over USD 213 billion, 75% of which came from private capital, showcasing the success of socialized investment.

Science, technology, innovation, and digital transformation made major strides. Implementing Politburo Resolution 57, we passed 10 laws and 19 guiding decrees in just one year. Vietnam ranked second in ASEAN for AI investment, sixth globally in the AI Index, and 44th in the Global Innovation Index. The three pillars of digital government, digital society, and digital citizens are now well-established. 5G coverage reached over 90% of the population. Our national data center went live, and we became one of the first five countries to master the full 5G ecosystem. A strategic 3,900-km overland fiber optic cable-designed and controlled by Vietnam-now connects five ASEAN countries, enhancing connectivity and data security.

Social and cultural development was prioritized. Over USD 44.2 billion was spent on social welfare during 2021–2025, about 17% of total government spending. Average monthly income rose from USD 220 in 2020 to USD 336 in 2025. The multidimensional poverty rate fell from 4.4% to 1.3%. More than 334,000 dilapidated houses were replaced ahead of schedule. In 2025 alone, over 102,600 social housing units were completed, 102% of the annual target. A National Housing Fund was launched. The government provided USD 354 million in emergency relief and over 42,100 tons of rice to help disaster-affected provinces.

We also built 100 integrated elementary and secondary schools in border communes, all ready before the 2026–2027 school year. According to the UN, Vietnam's happiness ranking rose to 46th in 2025-up 37 places from 2020.

National defense and security were strengthened with record-level investment. Political stability, public order, and safety were maintained. Crime fell by 24.23% compared to 2024. Diplomacy shone brightly: Vietnam upgraded relations with 17 countries, bringing the total to 42 comprehensive partners, including strategic partnerships with all five permanent UN Security Council members.

Reporter: In 2025, the Government’s governance style became more action-oriented, grassroots-focused, and people-centric. Could you elaborate on the spirit and vision behind this transformation?

Prime Minister: Guided by the Constitution, the law, and our working regulations-and operating under the motto “Discipline and responsibility; proactivity and timeliness; streamlining and efficiency; acceleration and breakthroughs”-the Government has emphasized innovation, integrity, and pragmatism.

We act with foresight and boldness, value time, and make timely decisions. The entire Government worked day and night, embracing new thinking and methods to promptly tackle urgent issues and achieve measurable results.

One standout feature of our governance in 2025 was our responsiveness. We frequently held online and in-person meetings to resolve issues quickly. The Government conducted 239 field trips to projects and localities to remove bottlenecks and ensure progress-especially during crises such as the floods in 26 northern provinces in 2024 and storms in south-central provinces in late 2025.

In sum, the 2021–2025 Government has upheld the 80-year legacy of its predecessors: determined action, practical solutions, and relentless innovation in service of the nation and its people. As Party General Secretary To Lam summarized at our 80th anniversary: “Courage, discipline, unity, integrity, action, creativity, effectiveness-for the people.”

Reporter: With the goal of achieving double-digit growth and sustainable development clearly laid out in the 14th Party Congress and national development strategy, what key tasks will the Government prioritize in 2026?

Prime Minister: 2026 marks the start of the next five-year plan and our journey toward two centennial goals: building a prosperous, civilized, and happy Vietnam. We will pursue double-digit growth by focusing on:

Reforming and modernizing our legal and institutional framework to transform it from a bottleneck into a competitive advantage. Business law, market development, and administrative reform will be key.

Improving local governance with more autonomy, accountability, and capacity, while streamlining the two-tier structure.

Boosting growth while safeguarding macroeconomic stability, using coordinated, flexible fiscal and monetary policies, and diversifying growth drivers and export markets.

Restructuring the economy with a focus on industrialization, innovation, and digital transformation. We’ll develop key and emerging industries and resolve stalled projects.

Investing in strategic infrastructure such as the Lao Cai–Hanoi–Hai Phong railway, high-speed rail, energy, and flagship cultural, sports, education, and healthcare facilities.

Developing high-quality human resources, especially in science and technology, and revamping education at all levels.

Advancing culture, social welfare, and quality of life through targeted national programs and growth in creative and entertainment industries.

Improving resource management, addressing urban congestion and pollution, and adapting to climate change.

Strengthening defense and security, maintaining peace and stability, and enhancing global integration-particularly economic and tech diplomacy.

Communicating effectively to inspire public support, spotlight the positive, and mobilize the nation toward our shared goals.

Reporter: Do you have any New Year message for the people?

Prime Minister: The progress of 2025 and this entire term stems from the Party’s wise leadership, the commitment of the entire political system, the support of our citizens and businesses, and international cooperation-enabled by the Government’s agile and decisive leadership.

On behalf of the Government, I sincerely thank the Party Central Committee - especially the Politburo and Secretariat led by General Secretary To Lam - the National Assembly, the Fatherland Front, our international friends, and most importantly, the people and officials at all levels.

As we enter 2026, the beginning of a new development era, the Government and each of its members pledge to lead by example, give our all, and advance Vietnam firmly into a bright future of prosperity, civilization, and happiness.

Thank you, Prime Minister Pham Minh Chinh!

VGP