Vietnam Economic Forum 2025: 8% Growth Target

The first session of the Vietnam Economic Forum 2025 focused on breakthrough solutions for Vietnam to achieve a growth target of over 8%. Leading economic experts put forward several important recommendations regarding credit capital, administrative procedure reform, business development, and trade promotion.

Vietnam Economic Forum 2025: Breakthrough Solutions For 8% Growth

On March 13th, Nguoi Lao Dong Newspaper organized the first session of the Vietnam Economic Forum 2025 with the theme “Breakthrough Solutions to Achieve a Growth Target of Over 8%”. At the forum, economic expert Dr. Tran Du Lich emphasized the current strong atmosphere and confidence in Vietnam, creating a favorable premise for the country’s development.

Aspiration For Double-Digit Economic Growth

Dr. Tran Du Lich stated that the double-digit economic growth target for 2025 is not just a number but also the aspiration of the entire nation for Vietnam to reach international stature. He noted that this year’s economic growth heavily relies on credit capital flows, with the State Bank of Vietnam (SBV) projecting a 16% increase in total outstanding credit. However, it is necessary to avoid capital flowing into securities or real estate, which could lead to virtual growth and a financial bubble like in 2016.

Mr. Nguyen Duc Lenh, Deputy Director of the SBV’s Branch in Region 2, said that the SBV is implementing solutions to ensure compliance with laws and policies, while also coordinating with departments, sectors, and businesses (DN) to remove difficulties and promote the connection between banks and businesses through preferential credit packages for key sectors. This year’s bank-business connection program will have innovations, with credit institutions directly connecting with businesses, especially those in growth-driving sectors.

Associate Professor Dr. Tran Dinh Thien, former Director of the Vietnam Institute of Economics, commented that the 8% growth target is not simple, especially for Ho Chi Minh City, which needs to transition to a new industrial ecosystem, attract foreign investment into large technology corporations, while actively developing domestic enterprises and strengthening connections between large and medium-sized enterprises.

Reforming Administrative Procedures To Promote Businesses

Many opinions at the forum suggested the need to further reform administrative procedures to create a more favorable business environment for businesses. Mr. Nguyen Ngoc Hoa, Chairman of the Ho Chi Minh City Business Association (HUBA), pointed out that cumbersome and lengthy administrative procedures are one of the biggest bottlenecks. He proposed increasing the responsibility of relevant parties and empowering the presiding agency to make decisions if sufficient opinions are not received within the prescribed time.

Promoting Trade And Export

Businesses all agreed that to achieve Ho Chi Minh City’s 10% GRDP growth target and contribute to the national GDP growth target of 8% or higher, it is necessary to develop a strong business community. Ms. Ly Kim Chi, Chairwoman of the Ho Chi Minh City Food and Foodstuff Association, proposed that the city have policies to encourage individual business households to transition to the business model to expand the economic scale and increase budget revenue.

Regarding domestic trade, Mr. Nguyen Anh Duc, Chairman of the Vietnam Retailers Association, emphasized the important role of retail trade in the economic growth structure. To achieve the 8% GDP growth target, retail trade needs to grow by at least 12%.

Mr. Nguyen Nguyen Phuong, Deputy Director of the Ho Chi Minh City Department of Industry and Trade, said that the city will focus on solutions for trade, especially this year’s market stabilization program, which will prioritize labor workers and people with low to medium income, while also building an online market stabilization sales channel.

In the textile and garment sector, Mr. Tran Nhu Tung, Vice Chairman of the Vietnam Textile and Apparel Association (VITAS), said that the industry has set an export turnover target of about 48 billion USD in 2025, a 10% increase compared to 2024. Businesses are awaiting the new trade policies of the United States to potentially achieve higher export growth.