The Prime Minister acknowledges the targets are tough but says they’re achievable with determination.

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.

The government revises economic projections after first-half performance lays solid foundation for 8% annual target.

At the Vietnam Economic Growth Forum 2025 last weekend, Tran Luu Quang, Head of the Central Committee for Policy and Strategy, posed a fundamental question: “With the goal of achieving double-digit growth, what must we do, and how should we do it?”

With rising living costs and weak consumption, Vietnam’s economy faces silent challenges.

Unlocking nearly 2,900 delayed projects could power Vietnam’s economic leap, but only if bold reforms cut through institutional bottlenecks and legal red tape.

The Singapore-based United Overseas Bank (UOB) revised its forecast projection for Vietnam’s GDP growth upward to 6.9% for 2025 from its previous projection of 6%, following the strong performance in the second quarter.

By June 2025, Vietnam's total credit had reached over 17.2 quadrillion VND (658.43 billion USD), up 9.9% from end-2024 and 19.32% year-on-year - the highest growth rate since 2023.

Economists, both domestic and foreign, have noted Vietnam’s ability to maintain strong momentum, with ambitions to hit 8% growth in 2025 and 10% or more annually from 2026 to 2030.

Persistent underpayment of public workers continues to weaken state capacity and morale.

Ambitious package to reduce red tape and upgrade infrastructure under IMF review.

Vietnam's GDP rose 7.52% in the first six months of 2025, marking the highest mid-year growth rate since 2011, according to the General Statistics Office.

Prime Minister Pham Minh Chinh has urged the central bank to scrap administrative credit limits and embrace market-based controls.

Vietnam’s economy outpaced forecasts in the first half, with GDP growth likely to exceed projections by 0.2 to 0.3%, Minister-Chairman of the Government Office Tran Van Son said on July 3.

Both the IMF and OECD believe that with solid macroeconomic fundamentals, a clear reform agenda, and active involvement from the private sector, Vietnam is well-positioned to maintain stable growth and enhance its position in global value chains.

Vietnam has issued a lot of strategic policies and mechanisms, which are expected to help it continue pursuing the economic growth target of at least 8% this year.

According to UOB, following the US’s announcement of reciprocal tariffs of 46% on Vietnamese goods on April 2, around 80% of Vietnamese businesses have proactively taken measures to respond to potential impacts.

Vietnam’s aggressive credit expansion is clashing with slow public spending and poses systemic risks without policy alignment.

As credit dependency reaches 134% of GDP, concerns resurface over policy imbalances and macroeconomic stability.

To reduce criminalization, the number of business conditions must be cut. Removing just one conditional business field can eliminate many restrictive regulations or procedures, experts say.