Resolution No. 192/2025/QH15 dated February 19, 2025 on regarding additions to the socio-economic development plan 2025 in which the growth rate target is raised to 8%

RESOLUTION

REGARDING ADDITIONS TO THE SOCIO-ECONOMIC DEVELOPMENT PLAN 2025 IN WHICH THE GROWTH RATE TARGET IS RAISED TO 8%

NATIONAL ASSEMBLY OF VIETNAM

Pursuant to the Constitution of the Socialist Republic of Vietnam;

Pursuant to the Law on Organization of the National Assembly of Vietnam No. 57/2014/QH13 amended by Law No. 65/2020/QH14 and Law No. 62/2025/QH15;

Pursuant to Resolution No. 158/2024/QH15 of the National Assembly on the Socio-Economic Development Plan 2025;

Considering Presentation No.53/TTr-CP dated January 27, 2025, Report No. 54/BC-CP dated January 27, 2025 of the Government; the evaluation reports of the National Assembly agencies, the opinions of relevant agencies and National Assembly delegates;

HEREBY RESOLVES:

Article 1. Objectives and targets

a) General objectives: Consolidate and prepare well the foundations for the successful implementation of the 10-year socio-economic development strategy (2021-2030), mark the time when the country enters a new era of development, contribute to creating a solid foundation for achieving double-digit growth in the 2026-2030 period; in 2025, focus on promoting the growth rate to reach at least 8% in association with maintaining macroeconomic stability, controlling inflation, ensuring major balances of the economy and harmonious development between the economy and society and environmental protection, ensuring national defense and security, creating a premise for the higher growth rate in the following years.

b) Adjustments to key targets:

- Gross domestic product (GDP) growth rate reaches at least 8%; GDP scope in 2025 reaches approximately 500 billion US dollars (USD).

- GDP per capita exceeds 5.000 USD.

- The average consumer price index (CPI) growth rate reaches approximately 4,5 - 5%.

Article 2. Key tasks and solutions

The National Assembly basically agrees with the tasks and solutions recommend by the Government and agencies of the National Assembly, and requests the Government and relevant agencies to focus on performing the following key tasks and solutions:

2.1. Promote the improvement of institutions and laws and improve the effectiveness of law enforcement

Change the lawmakers’ mindset towards "both strict management and creation for development", abandoning the thinking of " regulating prohibitions if the management is unable"; promote the "results-based management" method, drastically shift from "pre-inspection" to "post-inspection" in association with intensified inspection and supervision.

Facilitate investment, production and business, scientific and technological development, innovation, and promote digital transformation with focusing on reviewing and soon making amendments to the Law on Enterprises, the Law on Investment, the Law on Public-Private Partnership Investment, the Law on Bidding, the Law on management and utilization of state capital invested in the enterprise’s manufacturing and business activities.

Proactively and urgently prepare legal corridors and incentive mechanisms for new matters, high-tech projects, large projects, new trends, digital transformation, green growth, circular economy; soon promulgate the Law on Science, Technology and Innovation, the Law on Amendments to Law on Atomic Energy; soon develop a Scheme on regulatory framework for the development of smart production, smart factory model, smart management model, National Program on Technology and Strategic Industry Development.

Maintain the improvement of the regulatory framework to promote the rapid, healthy and effective development of all types of markets (finance, securities, science, technology, labor, real estate, etc.). Review to expand the scope, subjects and areas, apply pilot and specific mechanisms and policies that have been allowed by the National Assembly to be applied in 10 administrative divisions and have been proved to be effective. Formulate specific policies for the development of economic zones with great potential such as Van Don, Van Phong, border economic zones and regions according to the Politburo's Resolutions.

Urgently implement the applicable laws and resolutions of ratified by the National Assembly, especially the documents on restructuring of agencies, ensuring continuous and smooth operation with higher efficiency; complete regulations on organizational apparatus, promote decentralization and grant of power for the implementation of the revolution on restructuring of the apparatus towards refinement, compactness, strength, performance, effectiveness and efficiency. Immediately promulgate mechanisms and policies strong enough, provide for specific and transparent laws to take actions against “buck passing”, evasion of responsibility and irresponsibility in the performance of official duties; create a creative space, encourage and protect officials who are willing to innovate, take actions, and take responsibility for the common benefits without personal gain; intensify inspection and increase supervision frequency to promptly correct and remedy violations, shortcomings, and irresponsibility.

2.2. Concentrate resources on completing uniform and modern strategic infrastructure; unleash and effectively use public investment resources

In 2025, substantially complete Long Thanh International Airport, port projects in Lach Huyen area, put Terminal T3 of Tan Son Nhat International Airport and Terminal T2 of Noi Bai International Airport into operation; commence the construction of Lien Chieu port; expedite the investment preparation for strategic and nationally significant transportation infrastructure projects. Additionally grant approximately VND 84.3 trillion of public investment capital sourced from increases in revenue and expenditure savings in central government budget in 2024 to accelerate the execution of projects capable of absorbing capital (expressways, coastal roads, etc.) right in 2025. Implement strict expenditure savings; aim to save an additional 10% of recurrent expenditures in the 2025’s budget compared to the 2024’s budget, and the increase in 2024’s state budget revenue to be allocated for investment in the Lao Cai – Hanoi – Hai Phong railway; utilize the permissible public debts and budget deficits to mobilize additional resources for development. Accelerate the process of national target programs; urgently complete investment procedures for the National Target Program on Cultural Development for the 2025-2035 period to be implemented immediately in 2025. Accelerate the public investment disbursement, striving for the national disbursement rate by 2025 to reach 95% of the planed rate; supplement and apply specific mechanisms and policies, especially for large-scale and key projects. When necessity, increase the state budget deficit to approximately 4-4.5% of GDP to mobilize resources for development investment; public debt, government debt, and foreign debt of the country may reach or exceed the warning threshold of approximately 5% of GDP.

2.2. Focus on reforming administrative procedures, improving the business investment environment, creating all conditions for quick settlement of investment procedures, difficulties and obstacles in business investment, encouraging investment of all economic sectors

Promote the development of private and collective economies, especially small and medium enterprises, to participate more deeply in the global value chain. Formulate preferential mechanisms to foster the emergence and growth of new production forces and develop large-scale national enterprises. Further enhance the role of state-owned enterprises to focus investment on large and key projects with high ripple effects that drive socio-economic growth. Promote close cohesion between the sectors of state-owned enterprises, private enterprises and foreign-invested enterprises (FDI). Eliminate "favoritism", unfocused public investment (the number of central government budget-funded projects in the medium-term public investment plan for the 2026 - 2030 period is no more than 3,000).

Immediately remove bottlenecks for the real estate, capital, and corporate bond markets; soon meet the eligibility requirements for upgrading the stock market in 2025; provide mechanisms to effectively use indirect investment capital flows and international investment funds. Appropriately, promptly and effectively manage credit growth, meet capital demands for the economy, make sure capital is used for intended purposes,; focus on production and business sectors, prioritized sectors and traditional growth drivers such as consumption, investment and export. Actively work with each strategic investor to attract large, high-tech FDI projects; effectively implement the "green channel" mechanism for high-tech investment projects to enter industrial parks and economic zones to soon execute and put them into operation. Effectively implement regulations on decentralization and grant of power to local authorities to approve infrastructure investment in new industrial parks. Review and immediately find solutions to handle projects entangled in problems, especially renewable energy, BOT, BT, transportation, real estate and other protects; in the immediate future, develop specific mechanisms to focus on resolving problems of projects in Ho Chi Minh City, Hanoi, Da Nang and provinces and big cities to release resources right in 2025. Soon complete the investment procedures for Can Gio International Transshipment Port. Strongly promote nuclear power and offshore wind power projects; accelerate the revision and effective implementation of the Power Plan VIII in the new context.

Improve the effectiveness of the Investment Support Fund; urgently formulate and effectively implement the Scheme on mechanisms and policies for the formation and development of national enterprises playing a pioneering and leading role; the Scheme on the development of small and medium enterprises. Grant support to enterprises in application of artificial intelligence, digital transformation, green transformation, circular economy, resource saving, sustainable development, etc.

2.4. Promote and renew traditional growth drivers

Improve tax and credit mechanisms and policies to support increasing purchasing power, stimulating consumer demand and domestic tourism. Strengthen the supply-demand connection and promote trade in the domestic market; promote the distribution of goods via digital platforms; develop e-commerce. Strive for increase of the total retail sales of consumer goods and services (at current prices) in 2025 by about 12% or more. Develop the air transport industry and further facilitate the attraction of foreign tourists; urgently consider and decide on solutions for unilateral exemption from entry visas for citizens of some European and Middle Eastern countries holding ordinary passports; increase the promotion and advertising of tourism; improve the quality of tourism products and services. By 2025, strive to welcome and serve 22-23 million international tourists and 120-130 million domestic tourists.

Proactively take comprehensive and synchronous solutions in politics, economy and diplomacy; promote economic diplomacy and harmonious and sustainable trade with the US, China and major partner countries of Vietnam; actively participate in ASEAN Economic Community's initiatives to enhance investment and trade opportunities within the region. Effectively seize opportunities given from 17 signed free trade agreements (FTAs); expand and diversify export markets, especially countries that Vietnam has just upgraded to strategic and comprehensive partnerships; quickly complete FTA negotiations with Middle Eastern countries, Switzerland, Norway, Finland... to strengthen the exploitation of new and potential markets, the Middle East, Halal, Latin America, and Africa markets. Provide enterprises with market research information for identification of opportunities to enter the global market; assist enterprises in meeting new standards of export market; inform and grant support to enterprises in anti-dumping lawsuits. Further increase service exports, especially finance and banking, towards balancing the trade balance in services; promote the development of logistics and transport services, especially the expansion of air and sea transport. Promote international integration in the service sector, sign digital economy agreements with countries in the region.

2.5. Strongly promote new growth drivers, develop new and advanced productive forces

Create breakthroughs in the science and technology development, innovation and national digital transformation according to Resolution No. 57-NQ/TW dated December 22, 2024 of the Politburo; promote green transformation, increase investment in research and development, promote emerging industries and sectors such as artificial intelligence (AI), big data, cloud computing, optoelectronics, Internet industry, Internet of Things, biomedical industry, new energy, cultural industry, entertainment industry, etc; formulate mechanisms and policies strong enough to exploit cosmic space, marine space and underground space. Urgently find solutions to effectively use science and technology funds, encourage the establishment of venture capital funds, angel funds, start-up funds, innovation funds, etc.; formulate mechanisms and policies to apply the model of "public investment - private management" and "private investment - public management", ensure the initiative of scientists in research and application of technology.

Enhance the training of high-quality personnel according to international standards to meet the demands of the market, especially prioritized and emerging industries and sectors such as AI, data science, semiconductor chips, quantum technology, biotechnology, atomic energy, advanced materials, robotics and automation, construction and operation of high-speed railways, etc; continue innovating the management mechanism and ensure financial resources for education and training; adopt mechanisms and policies to support investment, order and assign personnel training tasks to high-quality personnel training institutions in service of socio-economic development.

Urgently and effectively implement the Scheme on International Financial Center in Ho Chi Minh City, Regional Financial Center in Da Nang; establish free trade zones and border economic zones in key economic localities such as Da Nang, Ba Ria - Vung Tau, Hai Phong, Quang Ninh, Khanh Hoa, Binh Duong, Dong Nai, etc.

Promote economic diplomacy in association with trade promotion, attraction of external resources, especially investment in science, technology, innovation and digital transformation. Create all favorable conditions for experts, especially good Vietnamese and foreign experts, to work and develop science and innovation for Vietnam. Promote 5G commercialization; 6G technology research; develop telecommunications satellites and upgrade the national telecommunications axis infrastructure. Develop a national data center, connect national and specialized databases. Research and propose appropriate mechanisms and policies to encourage the establishment, operation and development of digital technology enterprises, creating more “digital jobs". Effectively leverage opportunities to attract investment, promote trade, etc. on the basis of consolidating and promoting our country's position on the map of the global semiconductor industry, digital transformation, and innovative startups. Allocate resources and give specific mechanisms and policies to immediately implement the Human Resource Development Program for Semiconductor Industry. Urgently formulate and effectively implement mechanisms for controlled testing of new technological solutions. Soon promulgate and effectively implement the legal corridor to commercialize the results of scientific research and technological development.

Article 3. Implementation

The Government of Vietnam, local authorities at all levels, the Supreme People's Court of Vietnam, the Supreme People's Procuracy of Vietnam and the State Audit Office of Vietnam shall, within their jurisdiction, urgently prepare specific plans to organize the successful implementation of this Resolution.

The Standing Committee of the National Assembly, the Ethnic Council, Committees of the National Assembly, delegations of National Assembly delegates and National Assembly delegates shall, within their jurisdiction, supervise the implementation of this Resolution.

The Vietnam Fatherland Front and its affiliated entities shall supervise and encourage the entire People of Vietnam to implement this Resolution.

The National Assembly hereby calls upon all people and soldiers in Vietnam and overseas to honor patriotism and solidarity, utilize their capabilities, overcome difficulties and challenges, adapt flexibly and effectively to the world and domestic context, accelerate and make breakthroughs, etc to the finish line, successfully implement the Socio-Economic Development Plan 2025 with a growth rate reaching at least 8%, which service as a solid foundation for double-digit growth in the next period.

The National Assembly of the Socialist Republic of Vietnam approved this Resolution at its 15th extraordinary meeting on February 19, 2025.