More efforts for economic growth in last 6 months

(ĐN)- Vietnam’s economy expanded by 7.52 percent in the first half of this year, while Dong Nai achieved a higher rate of 8.23%. These are encouraging results given ongoing global uncertainties including trade tensions, military conflicts, and shifting tariff policies, particularly from the US. In the coming time, Dong Nai in particular and Vietnam as a whole need to implement specific and flexible measures to ensure that the province achieves its 2025 growth target of 10% and the national economy exceeds 8%, as previously set.

Products from Dong Nai enterprises featured at a trade promotion program.

Solid economic growth in the first half of 2025

Despite global headwinds such as disrupted supply chains and weak consumer demand post-COVID, Vietnam managed to post strong growth, with industry, construction, and services leading the way. The General Statistics Office noted that agriculture, forestry, and fisheries grew by 3.84%, contributing 5.59% to overall value-added; industry and construction rose by 8.33%, contributing 42.2%; while services grew by 8.14%, contributing 52.21%.

Dong Nai exceeded its growth target thanks to improved public investment disbursement and robust export performance. The province exported nearly US$16 billion in Jan-June, with the former Dong Nai area posting a trade surplus of almost US$3.9 billion.

Business sentiment also showed signs of recovery. In second quarter, 35.7% of surveyed manufacturing firms reported better business conditions than first quarter, and 37.3% expected further improvement in third quarter. Director Pham Ngoc Duy of Huynh Duc Manufacturing and Trading, located in Amata industrial park, noted that the company has seen consistent sales to foreign clients, particularly Japanese businesses.

Growth opportunities in the second half

Looking ahead, the General Statistics Office projects Vietnam needs to grow 8.42% in the second half to meet the full-year goal of 8%. Quarterly targets are set at 7.05% in first quarter, 7.96% in second quarter, 8.33% in third quarter, and 8.51% in fourth quarter.

Dong Nai-based businesses showcase their products at a trade promotion event.

According to experts, there is still room for Vietnam to achieve its full-year growth target. Speaking at a forum organized by the Vietnam Chamber of Commerce and Industry (VCCI) in early July 2025, Dr. Do Thien Anh Tuan, a lecturer at the Fulbright School of Public Policy and Management, noted that a recent social media post by U.S. President Donald Trump, suggesting a 20% tariff on goods produced in Vietnam and a 40% tariff on transshipped products, although not yet an official policy from the White House or the U.S. Department of Commerce, should still be treated seriously as a potential policy direction. He pointed out that the 20% tariff is significantly lower than the previously proposed 46%, reflecting efforts from the Vietnamese side to manage trade tensions proactively. By pushing this figure to a more controllable level, Vietnam has demonstrated a noteworthy degree of engagement and diplomacy. From a regional perspective, this potential tariff would not be excessively disadvantageous compared to broader trade dynamics.

Vietnam can still deploy domestic policy measures to support exporters in coping with rising costs. These include reducing taxes and logistics fees, offering export credit incentives, and supporting traceability standards. Increased investment in port and road infrastructure, along with customs digitization, could also help cut operating costs and strengthen competitiveness.

At the provincial level, Dong Nai is pushing forward. On June 30, Chairman Vo Tan Duc of the provincial People’s Committee signed Action Plan No. 2331 outlining key measures to achieve 10 percent economic growth for 2025. The plan calls for quarterly and annual growth scenarios, streamlined governance, and stronger public investment disbursement. Dong Nai aims to complete 100 percent of its public investment plan and accelerate major national infrastructure projects within its borders. Urban and regional economic development, as well as inter-provincial linkages, are also top priorities.

Reported by V.The