Vietnam's Economy In The First 4 Months Of 2025: Positive Results & Outlook

Vietnam’s Economy In April 2025: Bright Outlook, Remaining Among Top Growth Group

April 2025 saw the global economy facing numerous challenges, notably the impact from the new US reciprocal tax policy. However, amidst this context, Vietnam continues to affirm its position as one of the countries with high economic growth rates globally and regionally, according to forecasts from many reputable international organizations. What has helped Vietnam’s economy maintain this development momentum?

Vietnam Proactively And Effectively Responds To The New Us Tax Policy

The new US reciprocal tax policy introduced in April came as a surprise and immediately had a negative impact on the sentiment of businesses and global investors. However, Vietnam demonstrated proactiveness and flexibility in its response. Exchange and engagement with the US side were promptly, diversely, flexibly, and effectively intensified at all levels and through all channels.

Notably, the Prime Minister dedicated close attention by chairing 11 meetings providing direction on negotiation plans. A significant turning point was the phone call between General Secretary To Lam and the US President, which placed Vietnam on the list of 6 countries prioritized by the US for negotiation among over 100 economies.

Currently, Vietnam has officially begun negotiations with the US on issues related to the Reciprocal Tax. These timely and decisive actions have contributed to rekindling confidence and enthusiasm within the business community and the public, thereby helping the domestic economy avoid too many negative fluctuations and maintain the expected growth rate.

Many Important Guidelines And Policies Issued, Creating New Momentum

April 2025 was also the time of the 11th Central Committee Meeting, which resolved many important guidelines and policies, opening up new development space for the economy. A key highlight in the direction and administration of the Government and Prime Minister is the determination to accelerate institutional reform.

In early April alone, over 15 Official Dispatches and Directives were issued to implement solutions to promote economic growth. Cumulatively in the first 4 months of 2025, a large volume of legal documents were issued by the Government and Prime Minister: 98 Decrees, 132 Resolutions, 914 Decisions, 13 Directives, and 54 Official Dispatches.

Besides meetings on US tax issues, the Prime Minister also chaired other important meetings, typically the meeting of the Steering Committee for key national projects in the railway sector. Many breakthrough decisions were made, such as the determination to commence the Lao Cai – Hanoi – Hai Phong railway project in 2025, and approving the adjusted Power Plan VIII.

Simultaneously, Party and State leaders simultaneously commenced and inaugurated 80 large-scale projects with a total investment of approximately VND 445 trillion, celebrating the 50th anniversary of the Liberation of the South and National Reunification. Additionally, many programs and activities were implemented, such as parades, creating an atmosphere of excitement and contributing to rekindling the spirit of patriotism among the people, creating positive widespread effects.

Socio-Economic Performance Continues To Achieve Many Positive Results In The First 4 Months Of 2025

Summarizing the first 4 months of 2025, Vietnam’s socio-economic indicators continued to record many bright spots:

• Total retail sales of goods and consumer service revenue at current prices reached VND 2,285.5 trillion, up 9.9% year-on-year compared to 2024.
• Revenue from accommodation and food services reached VND 270.6 trillion (accounting for 11.8% of total), up 14.9%.
• Revenue from travel and tourism reached VND 30.4 trillion (accounting for 1.3% of total), a strong increase of 24.5%.
• Total export and import turnover in the first 4 months reached USD 275.18 billion, up 15.0% year-on-year compared to 2024, of which exports increased by 12.8%; imports increased by 17.3%.
• The trade balance for goods recorded a trade surplus of USD 5.02 billion.
• The total number of Vietnamese workers going abroad under contract in April was 10,854 people. Cumulatively in the first 4 months of 2025, the total reached 47,881 people.

Social security work continued to receive attention and was implemented promptly and effectively by all levels and sectors. This included supporting 24,151 houses for people with meritorious services to the revolution; supporting 58,356 houses under 02 national target programs; and supporting 119,144 houses under the program launched to eliminate temporary and dilapidated houses. The New Rural Development program also continued to make significant progress, with 6,024/7,696 communes (78.3%) meeting New Rural standards nationwide (data as of April 2025).

The fields of Education and Training, Science and Technology continued to be promoted for implementation according to Resolution No. 57-NQ/TW of the Politburo on breakthrough development of science and technology, innovation, and digital transformation.

Optimistic Forecasts From International Organizations And Challenges To Overcome

According to the Ministry of Finance, the socio-economic situation in April and the first 4 months of 2025 continued to achieve many positive results. International organizations have also provided many positive forecasts regarding Vietnam’s economic growth in 2025. Accordingly, the WB forecasts growth for 2025 to reach 6.8%; the ASEAN+3 Macroeconomic Research Office (AMRO) forecasts 6.6%, and the United Nations (UN) forecasts 6.5%.

However, to achieve the 2025 growth target, in the context where the economy will continue to face many difficulties and challenges, it requires all levels, sectors, and localities to continue promoting medium and long-term solutions to enhance the internal capacity of the economy, attract high-quality FDI, and increase domestic value added in production and export.