Striving for double-digit economic growth in 2025

Prime Minister Pham Minh Chinh has just signed and issued Official Dispatch No. 140/CD-TTg dated December 27, 2024 on striving for double-digit economic growth by 2025.

The Prime Minister telegraphs: Deputy Prime Ministers; Ministers, heads of ministerial-level agencies, heads of government agencies; Secretaries of Provincial and Municipal Party Committees, Chairmen of People's Councils, Chairmen of People's Committees of provinces and centrally run cities.

The telegram stated that 2025 is the final year of implementing the 5-year socio-economic development plan 2021-2025, which is of special importance, a year of acceleration, breakthrough, creating the foundation and premise for implementing the socio-economic development plan for the period 2026-2030.

To strive to achieve the highest socio-economic development goals and targets for the 2021-2025 period, aiming for double-digit growth in the 2026-2030 period and becoming a developed, high-income country by 2045 - the 100th anniversary of the founding of the country; following Official Dispatch No. 137/CD-TTg dated December 20, 2024 on promoting economic growth in 2025, the Prime Minister requested Ministers, heads of ministerial-level agencies, Government agencies, Chairmen of People's Committees of provinces and centrally run cities and requested the Secretaries of Provincial Party Committees, City Party Committees, Chairmen of People's Councils of provinces and centrally run cities to focus on leadership and direction, giving the highest priority to strongly promoting growth associated with macroeconomic stability, controlling inflation, ensuring large balances and high surpluses; Striving for double-digit economic growth in the country by 2025. This is not only a challenge but also a strong aspiration of the country in the new era - the era of national development.

To successfully complete the above goals, ministries, agencies and localities need to resolutely and effectively implement 3 strategic breakthroughs, 6 key tasks and 12 main groups of solutions set out in the Resolutions and Conclusions of the Central Committee, National Assembly and Government.

Focus on immediately building a scenario to strive for double-digit economic growth in 2025 for the whole country and each locality.

The Ministry of Planning and Investment shall preside over and coordinate with relevant agencies to review and develop a scenario for GDP growth in 2025, striving for a double-digit rate; propose specific, breakthrough, feasible and effective tasks and solutions to achieve the above target in the draft Resolution of the Government on key tasks and solutions to implement the socio-economic development plan and state budget in 2025.

Ministries, ministerial-level agencies, and government agencies develop goals and targets for each sector and management field in accordance with the goals and GDP growth scenarios for 2025.

Provinces and centrally-run cities grasp their potential and strengths to build socio-economic development plans and growth scenarios for 2025 at double digits with the highest spirit of striving, the greatest effort, ensuring that they are suitable to local characteristics but must be unified in the common goal of contributing to national economic development. Large cities and localities that are locomotives and growth poles need to strive for higher growth rates to contribute to overall growth.

Ministries, agencies and localities that complete the tasks at points b and c above shall send them to the Ministry of Planning and Investment before December 30, 2024 for synthesis and reporting to the Government and Prime Minister before January 3, 2025.

Continue to innovate and further promote traditional growth drivers

Ministries, agencies and localities, according to their assigned functions and tasks, focus on promoting disbursement of public investment capital from the beginning of 2025, taking public investment as the leading factor, activating social investment, promoting public-private partnership; promptly reviewing and removing difficulties and obstacles for each project, especially important national projects and works, and national target programs.

Accelerate the implementation of strategic transport projects, airports, seaports, highways, inter-regional and inter-provincial projects, striving to exceed the target of having 3,000km of highways by the end of 2025 and 5,000km of highways by the end of 2030. Develop effective mechanisms and policies to selectively attract foreign investment.

Strengthening the promotion and attraction of large-scale, high-tech FDI projects, especially in the processing, manufacturing, electronics, semiconductor, artificial intelligence, and hydrogen industries; connecting with domestic regions, forming supply chains, and participating more deeply in regional and global value chains.

The Ministry of Industry and Trade, ministries, agencies and localities, according to their assigned functions and tasks, shall strengthen solutions to stimulate domestic consumption; promote production, ensure adequate supply of demand, avoid shortages and supply disruptions, especially for essential goods; develop e-commerce and new effective business models; and link production, distribution and consumption.

Focus on improving the quality of export products, while building a strong national brand, making Vietnamese products present everywhere in the world, thereby contributing to GDP growth.

Develop tourism in a professional, modern and effective manner, increase promotion to attract international and domestic tourists. Strengthen trade promotion, make the most of opportunities from signed free trade agreements; expand and effectively exploit new markets; support businesses to meet new standards of export markets; improve trade defense capacity, prevent fraud of goods origin.

Creating breakthroughs, strongly promoting new growth drivers The Ministry of Information and Communications shall preside over and coordinate with the Ministry of Science and Technology and relevant agencies to urgently develop the Government's Action Program to implement Resolution No. 57-NQ/TW dated December 22, 2024 of the Politburo on breakthroughs in science and technology development, innovation and national digital transformation, and submit it to the Government before January 5, 2025; identifying this as a top important breakthrough, the main driving force to rapidly develop modern productive forces, perfect production relations, innovate national governance methods, develop the socio-economy, and bring the country to breakthrough development and prosperity in the new era.

The Ministry of Information and Communications shall preside over and coordinate with relevant agencies to accelerate national digital transformation in a comprehensive, extensive and breakthrough manner. Complete laws, mechanisms and policies on digital transformation. Promote the application and development of digital technology, develop policies to encourage investment, purchase and lease of digital products and services; have special policies to train, develop and attract organizations, individuals and enterprises operating in the fields of digital transformation, development of digital technology products, and cyber security industry; support enterprises to invest in and build data centers and cloud computing.

Build a public-private partnership mechanism to develop modern digital infrastructure, in which state resources are the main source. Develop telecommunications and internet infrastructure. Focus on comprehensive digitalization of state management activities, develop digital government, digital economy, digital society, digital citizens. Strongly promote the construction of national databases at all ministries, agencies, levels and sectors.

The Ministry of Science and Technology, ministries, agencies and localities, according to their assigned functions and tasks, urgently review, amend, supplement and synchronously complete legal regulations, mechanisms and policies on science, technology and innovation development to remove bottlenecks and barriers, free up resources, encourage and develop science, technology and innovation.

Develop mechanisms and policies to support and develop public scientific and technological research organizations, policies to treat and employ high-quality human resources in these fields; increase the attraction and effective use of investment resources, improve infrastructure for science, technology, and innovation; have a policy testing mechanism to promote research, development, application, and transfer of strategic technologies.

Develop policies to encourage businesses to innovate technology and invest in high value-added industries such as information technology, artificial intelligence, renewable energy, high-tech agriculture, logistics and smart infrastructure (to be submitted to the Government in the first quarter of 2025).

Ministries, agencies and localities, according to their assigned functions and tasks, must seriously, fully and promptly implement the tasks assigned in the National Strategy on Green Growth for the 2021-2030 period, with a vision to 2050; have specific, appropriate and effective solutions for sectors and fields such as energy, transportation, tourism, services, agriculture, etc.

The Ministry of Planning and Investment urgently submits a list of green economic sectors to be integrated into the Vietnamese economic sector system; urgently completes the Decree on the pilot mechanism for developing a circular economy, with appropriate incentive policies to encourage businesses to invest in circular economic projects in a number of potential sectors to be submitted to the Government in the first quarter of 2025.

The Ministry of Finance develops and perfects preferential financial policies to encourage investment in green projects.

The State Bank of Vietnam develops solutions to increase resources for green credit, and directs credit institutions to promote credit provision for green economic sectors and green projects.

The Ministry of Natural Resources and Environment completes the national green criteria set, which serves as a basis for identifying and classifying economic activities. The Ministry of Planning and Investment presides over and coordinates with relevant agencies to propose breakthrough solutions to increase investment attraction in new industries and fields, high technology such as semiconductor chips, artificial intelligence, cloud computing, etc. (to be submitted to the Government in the first quarter of 2025).

Ministries, agencies and localities continue to resolutely, synchronously and effectively implement the Politburo's Resolutions on regional socio-economic development; perfect institutions, specific policy mechanisms to promote regional development, and improve the effectiveness of coordination and linkage in regional development.

Focus on restructuring industries and fields; improve labor productivity and economic competitiveness.

Ministries, agencies and localities, according to their assigned functions and tasks: Promote industrial restructuring towards modernization; develop in depth, improve productivity, added value and competitiveness of products of advantageous industries. Effectively implement the strategy for developing the semiconductor industry. Strongly develop supporting industries, strengthen linkages between foreign-invested sectors and domestic sectors.

Shifting agricultural production thinking to agricultural economic thinking. Developing circular, low-carbon crop cultivation. Promoting high-tech industrial livestock farming associated with brand building and development. Developing the aquaculture industry associated with high-tech application, replicating chain models with high economic efficiency.

Continue to invest in completing agricultural and rural infrastructure to adapt to climate change. Continue to restructure service industries based on modern technology platforms, applying achievements of the Fourth Industrial Revolution. Develop a number of industries and service products with high knowledge and technology content and competitive advantages.

Establish a number of tourism service centers with high-quality, branded tourism products. Build and develop free trade zones in Hai Phong City and Ba Ria-Vung Tau Province.

Resolutely and effectively implement the Politburo's Conclusion on building an international and regional financial center in Ho Chi Minh City and Da Nang. Fundamentally and comprehensively innovate education, training, and vocational training associated with the application of science and technology, promoting startups and innovation. Focus on developing high-quality human resources to meet the requirements of developing a knowledge-based economy, digital economy, green economy, circular economy, basic sciences, engineering, technology and new industries, especially artificial intelligence, data science, semiconductor chips, nuclear power, etc.

Strengthening the connection between supply and demand, developing a sustainable and effective labor market; promoting the shift of labor structure towards modernity, ensuring the connection of the domestic labor market with the labor markets of countries in the region and the world.

Maximally mobilize social resources for development, effectively exploit resources from state-owned enterprises, strongly develop private enterprises. The Ministry of Finance and the Ministry of Planning and Investment, according to their assigned functions and tasks, develop plans to maximize the mobilization of resources from the state, enterprises and people for development investment; diversify capital sources, promptly remove difficulties and obstacles to clear, mobilize and effectively use resources from the real estate market, securities, corporate bonds; take advantage of public debt and state budget deficit to mobilize resources for development.

Ministries, agencies and localities, according to their assigned functions and tasks, continue to be proactive, resolute and focus on resolving backlog projects, weak enterprises and banks. Promote the role and activities of the Steering Committee to effectively remove difficulties for projects; focus on reviewing, classifying and proposing mechanisms and policies to remove obstacles, put them into use soon, free up resources, and contribute to socio-economic development.

The Ministry of Planning and Investment shall preside over and coordinate with relevant agencies to develop breakthrough solutions and appropriate and feasible policies and mechanisms to encourage the strong development of private enterprises, which are truly an important driving force of the economy. Continue to improve the synchronous and consistent legal system, creating a favorable and equal investment and business environment for the development of the private economy.

Build a mechanism to prioritize the formation and development of new production forces, strongly develop large-scale, national enterprises. Strengthen close links between state-owned enterprises, private enterprises and FDI enterprises, promote the formation of regional and global supply chains through business linkages.

State-owned corporations and groups continue to improve the efficiency of production and business activities, management capacity and human resource quality; focus on investing in large, focused and key projects that have spillover effects, create momentum and promote socio-economic development; resolutely overcome the situation of scattered, ineffective investment.

Removing the “bottleneck of the bottleneck”

Ministries, agencies and localities, according to their assigned functions and tasks, continue to perfect institutions, laws, mechanisms and policies, considering this a "breakthrough of breakthroughs" to remove "bottlenecks of bottlenecks." Innovate thinking in law-making, both strictly manage and create development, maximize development resources, and create new development space. Promote decentralization and delegation of power, combined with strengthening inspection, supervision and improving the implementation capacity of cadres and civil servants, with the spirit of "locality decides, locality acts, locality takes responsibility."

Resolutely and effectively implement the policy of streamlining and reorganizing the apparatus of agencies and organizations in the political system, ensuring quality and progress according to requirements; urgently complete the institutions for the operation of the administrative apparatus from the central to local levels in accordance with the spirit of Resolution No. 18-NQ/TW and the direction of the Central Committee.

Ministries, agencies and localities, according to their assigned functions and tasks, continue to promote administrative reform, reduce administrative procedures in a substantial and effective manner, and improve the investment and business environment. Focus on promoting the review, amendment, supplementation or abolition of unnecessary administrative procedures and regulations that create compliance costs for people and businesses in legal documents.

Promote decentralization and delegation of authority, combined with strengthening supervision, inspection and supervision in handling administrative procedures to reduce intermediary levels and end the situation of prolonging processing time through many agencies and units. Strictly implement the announcement, publicity, transparency and completeness of administrative procedures, digitization of records and results of handling administrative procedures according to regulations.

Accelerate the implementation of interconnected online public service groups, prioritize reviewing and restructuring the integrated process, providing on the National Public Service Portal; strictly implement the timely, complete and accurate announcement and disclosure of administrative procedures according to regulations; 100% of administrative procedure records must be received and resolved on the Administrative Procedure Resolution Information System at the ministerial and provincial levels and synchronized with the National Public Service Portal. Accelerate the implementation of Project 06 at all levels, sectors and localities.

Constantly striving to be creative, daring to think and do

Ministries, agencies and localities promote the strength of solidarity, the spirit of innovation, constantly strive for creativity, dare to think and dare to do, the will to be self-reliant and self-reliant, and the desire to rise up, join hands and unite, turn all difficulties and challenges into opportunities for breakthroughs, have high determination, make great efforts, and take drastic actions to successfully complete the set goals.

Each local ministry and sector must be the pioneering nucleus to awaken all potentials to bring the country forward steadily, entering a new era - the era of national prosperity and strength, affirming the country's prestige and position in the international arena.

The Prime Minister assigned Deputy Prime Ministers to directly direct ministries, agencies and localities in their assigned fields to focus on effectively implementing the tasks and solutions in this Official Dispatch; promptly handle arising problems within their authority.

The Government Office, according to its assigned functions and tasks, shall monitor and urge the implementation of this Official Dispatch; report to the Prime Minister on issues beyond its authority.