Vietnam's National Assembly, the country's legislature, passed a resolution on Wednesday, November 19, that set a target for economic growth of at least 10% by 2026, a per capita GDP of $5,400 to $5,500, and inflation under control at about 4.5%.
By 2025, the government hopes to grow the country's economy by 8.3–8.5%. GDP increased by 7.85% during the first nine months. With the exception of 2023, which saw a significant increase following the pandemic, the number was at its second-highest levels in eleven years.
Following HSBC's revision of its forecast to 7.9% (from 6.6%) and 6.7% (from 5.8%), Standard Chartered increased its Vietnam GDP growth estimate late last month to 7.5% for 2025 from 6.1% and to 7.2% for 2026 from 6.2%.
The resolution also directed the government to prioritize growth while preserving macroeconomic stability, make sure that monetary and fiscal policies are targeted and flexible, and direct credit flows toward business sectors while restricting lending to high-risk areas.
The government was also given the responsibility of tightening control over the stock, gold, and real estate markets as well as reducing tax evasion, especially in retail, food services, and e-commerce.
While capital will be raised through the issuance of sovereign bonds to fund important infrastructure projects, public debt and budget deficits must be kept under control.
In terms of public investment, the National Assembly mandated that funds be distributed more quickly starting in early 2026, particularly for strategic projects and national programs.
The government is also directed to expedite the creation of new-generation free trade zones in a few provinces and an international financial hub in both Ho Chi Minh City and Danang.
Phase 2 of Long Thanh International Airport, urban metro lines in Hanoi and Ho Chi Minh City, and the Lao Cai-Hanoi-Hai Phong railway are among the infrastructure priorities. Additionally, lawmakers demanded that the Hon Khoai port in the southernmost province of Ca Mau and the Can Gio international transshipment port in HCMC be implemented as soon as possible.
In terms of the energy sector, the resolution calls for suggestions on unique ways to secure funding for significant energy projects, guarantee the completion of the nuclear power plants Ninh Thuan 1 and 2, and broaden development into low-altitude, underground, marine, and aerospace economies.
