Vietnam's economy is expected to reach 500 billion USD by 2025.

At the national conference on socio-economic development on October 20, Prime Minister Pham Minh Chinh said that GDP growth for the whole year is estimated at about 7%, exceeding the target set by the National Assembly (6-6.5%). Based on results from the beginning of the term, economic growth is estimated at about 6% per year in the 2021-2025 period.

"Vietnam's economic growth is among the highest in the region and the world," he said.

According to the latest updated data from the World Bank (WB), the size of the economy has increased from 346 billion USD, ranked 37th in the world in 2020 to 433 billion USD, ranked 34th in the world in 2023.

The Prime Minister assessed that the economic scale is expected to reach about 500 billion USD in 2025. This figure is 1.45 times higher than in 2020, ranking 33rd in the world and 4th in the ASEAN region. At the same time, GDP per capita will increase from 3,720 USD in 2021 to about 4,900 USD in 2025. The corresponding increase is about 31.7%.

Overall assessment of the 5 years 2021-2025, Vietnam has surpassed the low middle income level, the human development index has improved. The happiness index in 2024 according to the United Nations assessment increased by 11 places compared to 2023, ranking 54/143 countries and territories.

"These things contribute to proving that our country has never had the foundation, potential, position and international prestige as it does today," said the Prime Minister.

According to the Government leader, 2025 is the year of acceleration and breakthrough to achieve the planned target for the entire 5-year period. Some key targets for next year include GDP growth of about 6.5-7%, average CPI of about 4.5%.

Next, in the 2026-2030 period, the Government aims for an average GDP growth rate of about 7.5-8.5% per year; by 2030, GDP per capita will reach 7,400-7,600 USD. The goal is that by 2030, Vietnam will be a developing country with modern industry and high average income. The size of the economy will reach about 780-800 billion USD in the next 6 years.

"At this rate, Vietnam will be among the top 30 economies in terms of GDP in the world," the Prime Minister said, adding that this will be a solid foundation for Vietnam to become a developed, high-income country by 2045.

To achieve the goal, the Prime Minister said Vietnam will make three strategic breakthroughs, especially in infrastructure construction. By the end of 2025, the country will have more than 3,000 km of expressways, achieving the set target. Many projects for the 2026-2030 period will continue to be implemented. Digital infrastructure and electricity infrastructure will also be invested in and built across the country.

The Government continues to improve institutions and laws in the spirit of reform, innovation, increasing decentralization, rights, cutting administrative procedures, and compliance costs for people and businesses. At the same time, science, technology, innovation, and digital transformation will be strongly developed. This aims to create a breakthrough in increasing productivity, quality, and competitiveness of the economy.