The economy continues to grow

Electronic circuit board production line at the factory of 4P Company Limited in Hung Yen province.

The economic outlook for the last 6 months of the year is assessed as positive with growth potential concentrated in the following areas: Public investment; science and technology, digital transformation, innovation; credit "injected" into the economy, consumer growth...

Many factors support growth

According to the General Statistics Office, Vietnam's economy in the first half of the year achieved a growth rate of 7.52% compared to the same period last year, the highest growth rate in the same period of the years in the period 2011-2025. Many other macroeconomic indicators such as inflation, state budget revenue, public investment disbursement... also had impressive growth rates. This is a growth rate approaching the operating scenario that was updated in the first quarter of 2025.

Director of the General Statistics Office Nguyen Thi Huong said that this positive result was supported by many favorable factors. In terms of production, there was even growth among regions and economic types; in which, industrial production and construction were significant drivers of economic growth with added value of 8.07% and 9.62% respectively over the same period. Market service industries such as transportation, warehousing, accommodation and catering... also had quite strong growth, actively supporting production, export and tourism activities.

From the perspective of use, public investment disbursement has been accelerated for key infrastructure projects. Foreign direct investment (FDI) has increased rapidly in projects in the semiconductor and high-tech sectors, contributing to increasing the overall production capacity of the economy in the long term and creating new capacity for the economy. Meanwhile, demand from international markets for Vietnamese goods remains quite high, reflected in the export turnover reaching more than 219 billion USD, up 14.4% in the first half of the year. "The harmonious combination of supply and demand factors has created a solid growth momentum for the Vietnamese economy," emphasized General Statistics Office Director Nguyen Thi Huong.

In the recently released Vietnam Economic Outlook Report for the first 6 months of the year and forecast for the whole year of 2025, Dr. Can Van Luc, Chief Economist of the Bank for Investment and Development of Vietnam (BIDV), reviewed the positive results of the economy: Fiscal policy continues to be managed in an open, focused and key direction; monetary policy is managed in a proactive, flexible direction, closely coordinated with fiscal policy; striving for credit growth for the whole year to reach about 16%. The macro economy is basically stable, major balances are ensured; FDI attraction and disbursement increased by 32.6% over the same period, disbursed FDI capital is estimated at 11.72 billion USD, the highest disbursement level in 5 years.

The next bright spot in the economic picture is that the macro economy is basically stable, inflation is well controlled, the average consumer price index (CPI) in the first 6 months increased by 3.27%, core inflation increased by 3.16% compared to the same period in 2024. Lending interest rates decreased slightly, credit growth improved; state budget revenue increased sharply thanks to the positive momentum of production, consumption and export. Dr. Can Van Luc also emphasized that one of the decisive factors for socio-economic growth in the first 6 months of the year is that the Party and State have reorganized administrative units, operated a two-level local government model, continued to perfect institutions, and resolutely implemented the "Quad Pillars", opening up many development opportunities for the economy.

Create trust for businesses and investors

Positive growth results in the first 6 months of the year have reduced the pressure on management in the remaining 2 quarters of 2025, but to achieve the annual growth target of 8% or more, growth in the third and fourth quarters must reach 8.33% and 8.51% respectively, with growth in the last 6 months of the year increasing by 8.42%. This is a challenging target in the context of the world economic situation still facing many difficulties and uncertainties, which can negatively affect a highly open economy like Vietnam.

Contributing opinions on solutions to promote growth, economic experts said that in the short term, it is necessary to drastically implement solutions to reform institutions, remove difficulties for production and business activities of enterprises, and effectively coordinate in the management of fiscal and monetary policies... According to Dr. Can Van Luc, effectively implementing the policy of institutional breakthroughs, effectively operating the apparatus and localities after mergers and streamlining; promoting anti-waste, and substantially improving the investment and business environment are very important factors at the present time. In addition, it is necessary to proactively and flexibly adapt to the US tariff policy; effectively implement policies to stimulate consumption; improve growth quality with the solution of establishing a National Productivity Committee, and implementing campaigns to increase productivity.

To fully exploit the potential of the economy, develop sustainably and achieve high growth in the long term, according to Dr. Dang Duc Anh, Deputy Director of the Central Institute for Policy Research and Development Strategy, Vietnam needs to maintain macroeconomic stability, create confidence for businesses and investors; at the same time, maintain a prudent and flexible monetary policy; continue administrative reform, simplify procedures, increase transparency to establish a transparent and safe investment environment; promote innovation and regional connectivity to increase productivity and efficiency; promote green development, protect the environment...

Regarding public investment motivation, the planned capital for 2025 assigned by the National Assembly is nearly VND830,000 billion, in addition to the source allocated from the increased budget revenue. Ministries, branches and localities are resolutely implementing solutions to promote 100% disbursement of public investment capital, actively supporting economic growth. Accordingly, it is necessary to resolutely remove bottlenecks in investment procedures, construction material sources, and site clearance to speed up the construction progress of key national projects. The General Statistics Office stated that science and technology, innovation, and digital transformation are considered key drivers for Vietnam's economic growth. Enterprises need to take advantage of new opportunities and use AI technology in production activities, increase investment in research and development activities to reduce costs and improve competitiveness.

Regarding external resources, Vietnam continues to be an attractive destination for foreign investors with the highest FDI attraction results since 2009. The General Statistics Office believes that in the coming time, the Government and localities need to prioritize attracting high-tech FDI projects with the ability to connect and transfer technology to domestic enterprises through focused investment promotion activities, continue to improve the investment and business environment, simplify administrative procedures, and make policies transparent to attract and improve the quality of FDI capital.

Source nhandan.vn

Source: https://baophutho.vn/kinh-te-tiep-tuc-da-tang-truong-236276.htm