GDP in the second quarter may reach 7.6%, among the world's highest growth rates

Permanent Deputy Prime Minister Nguyen Hoa Binh reports and explains issues of concern to National Assembly deputies. Photo: Quochoi

Attractive destination for foreign investors

The Deputy Prime Minister said that in terms of the socio -economic situation in the first 6 months of the year, many targets and indicators were better than the same period last year. It is estimated that by May 2025, GDP in the second quarter could reach about 7.6% over the same period (the proposed scenario is 7.58%), among the highest growth rates in the region and the world. State budget revenue is estimated to reach 66.2% of the estimate; FDI attraction continues to be a bright spot with total registered capital estimated at over 20 billion USD and realized capital estimated at about 12 billion USD, showing that Vietnam continues to be an attractive destination for foreign investors...

Notably, in the first 5 months of the year, the Ministry of Public Security discovered and dismantled many production and trading lines of fake milk, food, medicine, health food; goods with fake origin, and large-scale and serious infringement of intellectual property rights; arrested and handled over 40,000 cases of smuggling, trade fraud and counterfeit goods; collected 6,583 billion VND for the budget; prosecuted 1,737 cases and 3,043 subjects.

During the peak period (from May 15 to June 15, 2025), the authorities detected, arrested, and handled more than 10,400 cases; temporarily seized goods and exhibits worth more than VND 4,000 billion; collected more than VND 1,200 billion for the state budget; prosecuted 204 cases with 378 defendants.

Regarding solutions to achieve the GDP growth target of 8% or more in 2025, the First Deputy Prime Minister said that the Government focuses on directing all levels, sectors and localities to be more determined, make greater efforts and take more drastic actions to promote growth to achieve the set target, while at the same time, maintaining macroeconomic stability, controlling inflation and ensuring major balances of the economy.

Specifically, we will strive to disburse public investment capital to reach 100% of the plan; effectively exploit 17 signed FTAs and promote new FTAs to diversify the market; perfect tax and credit mechanisms and policies to support increased purchasing power and stimulate consumption...

The First Deputy Prime Minister also said that from July 1, 2025, the whole country will officially operate a two-level local government. Difficulties and obstacles in the operation process have been promptly resolved. Specifically, the Government continues to review the system of legal documents, especially in priority and urgent areas; manage the total payroll assigned in 2025, streamline the payroll associated with restructuring the staff, civil servants, and public employees; properly resolve the regime and policies for cadres, civil servants, public employees, workers and armed forces when implementing the organizational arrangement.

Along with that, carry out the arrangement and reorganization of headquarters, facilities and working conditions of new provincial and communal agencies; review, count and effectively handle public assets and redundant headquarters after the arrangement and merger; promptly decide to appoint Chairmen and Vice Chairmen of the People's Committees of new provinces and cities...

Anticipated difficulties in arranging administrative units

Responding to the Government's solutions to ensure the growth target of over 8% this year and double-digit growth in the coming period, Permanent Deputy Prime Minister Nguyen Hoa Binh said that the Government is determined to implement solutions to renew traditional growth drivers in investment, boost exports and consumption; continue to selectively attract foreign investment, prioritizing large-scale, high-tech projects; speed up the construction progress of important, key national projects and works; strengthen tourism promotion and advertising, expand visa policies...

The Government also promotes new growth drivers, focusing on implementing resolutions of the Party, National Assembly, and Government on special mechanisms and policies to create breakthroughs in science, technology, innovation, and national digital transformation; developing green economy, circular economy, e-commerce, developing private economy... In addition, promptly implementing the National Assembly's Resolution on the International Financial Center in Vietnam...

Permanent Deputy Prime Minister Nguyen Hoa Binh answers questions. Photo Quochoi.vn

Regarding the revolution in arranging administrative units at the provincial and communal levels, the First Deputy Prime Minister said that this is aimed at many goals, including supporting economic growth. Because the 2-level local government model will bring the government closer to the people, serve the people and businesses better and more effectively.

“The process of operating the new apparatus will have difficulties, the Party, the National Assembly and the Government have anticipated this. To remove difficulties for the two-level local government, the Government has urgently developed and completed a system of decrees to increase decentralization and delegation of power; provide specific guidance on the organization of the apparatus, payroll, job positions and the process of arranging cadres, civil servants and public employees to ensure compliance with regulations,” Deputy Prime Minister Nguyen Hoa Binh emphasized.

To support people and local authorities, the Government and ministries and branches have set up a nationwide public hotline so that people and local authorities can ask about issues, including public administrative services, functions and tasks of local authorities... Along with that, the Government has deployed a virtual assistant, which can provide information about about 1,800 public services to people; at the same time, immediately answer questions from local authorities about functions, tasks and practical issues in the locality.

According to the Permanent Deputy Prime Minister, the Central Government will continue to maintain inspection teams and guide provinces and cities to immediately remove difficulties and obstacles when implementing two-level local government.

Regarding personnel work, the Government pays special attention to stabilizing the psychology and creating motivation for the staff, civil servants and public employees after the merger. In particular, those officials who are in the province or city merger and work at the new facility will be considered for accommodation and transportation arrangements...

Source: https://hanoimoi.vn/gdp-quy-ii-co-the-dat-7-6-thuoc-nhom-tang-truong-cao-cua-the-gioi-706183.html