Steadfast commitment to high growth targets

(ĐN) – Economic growth scenarios for the remainder of the year have been outlined for both Dong Nai province and the country as a whole, aiming to achieve high growth levels in 2025. These efforts will help lay the groundwork for rapid and sustainable development in the coming years.

With Dong Nai targeting a growth rate of 10% or higher, and the national goal set at 8.3-8.5%, achieving these objectives will not be easy. It will require vigorous efforts and the deployment of measures to attract and unlock resources for development, production, business, and foreign trade.

Nhon Trach bridge on HCM city’s Ring Road No. 3 is under construction to enhance connectivity and drive economic growth in Dong Nai and the surrounding region.

Choosing high-growth scenario

At the Government’s online conference with localities on July 16 to discuss the 2025 economic growth scenarios and the associated tasks and solutions, Minister of Finance Nguyen Van Thang announced that the ministry had developed two possible scenarios for the second half and the full year.

Accordingly, Scenario 1 projects a 2025 GDP growth rate of 8%, based on Q3 growth of 8.3% year-on-year, consistent with Resolution 154/NQ-CP, and Q4 growth of 8.5% (0.1% higher than previously projected). Under this scenario, GDP is estimated at approximately US$508 billion, with per capita GDP around US$5,000.

Scenario 2 targets GDP growth of 8.3-8.5% for the year, with Q3 growth reaching 8.9-9.2% (0.6-0.9% higher than the first scenario) and Q4 growth at 9.1-9.5% (0.7-1.1% higher). This would place the 2025 GDP at around US$510 billion and raise per capita GDP to over US$ 5,020.

Minister Thang emphasized that although the Party Central Committee and the National Assembly set a growth target of 8% for 2025, with stronger determination and greater effort, the Ministry of Finance recommends pursuing Scenario 2. Meeting this target would set a solid foundation for achieving double-digit growth in 2026 and beyond.

Prime Minister Pham Minh Chinh concurred, stating that the government has set a national growth target of approximately 8.3-8.5% in 2025, aiming to create a firm base for double-digit growth in the 2026-2030 period. The Prime Minister called for a thorough analysis of global trends to inform appropriate policy responses, both short- and long-term, for economic restructuring and transitioning to a new growth model. He stressed the importance of removing bottlenecks, resolving obstacles, mobilizing resources, and accelerating growth drivers.

Ultimately, actual economic performance will depend heavily on how well these policies and solutions are implemented, particularly in mobilizing and utilizing development resources.

Decisive solutions to implement growth targets

In the realm of import-export, Minister of Industry and Trade Nguyen Hong Dien remarked that strategic competition among major economies is becoming increasingly intense, accompanied by a wave of new tariff measures and trade barriers. Therefore, Minister Nguyen Hong Dien proposed the effective utilization of the 17 signed trade agreements and treaties to boost growth. He emphasized the need to seize every opportunity and take full advantage of the recovery trends in global markets to promote exports. He also called for the expansion and diversification of export markets by researching new, potential, and underexploited markets in the Middle East, Africa, and Latin America. Additionally, he advocated for the acceleration of negotiations for new free trade agreements and the signing of cooperation treaties and agreements in economic, trade, and industrial sectors, especially in areas where Vietnam holds a competitive advantage.

Enterprises take part in a program organized by Dong Nai Young Entrepreneurs Association in 2025.

To achieve the 2025 growth target of 8.3-8.5%, Vietnam must mobilize about US$111 billion in total social investment. Thus, alongside promoting investment, the country must also capitalize on market opportunities to stimulate consumption and exports.

For Dong Nai, at the 3rd session of the 10th Provincial People's Council on July 24, Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee Vo Tan Duc stressed that the province will focus on achieving 30 key indicators in the second half of the year, including 9 related to economic performance. Emphasis will be placed on developing modern, synchronized infrastructure, especially national and inter-regional transport projects. The province will also continue restructuring sectors in alignment with digital and green transformations.

To meet the ambitious 10% growth goal for 2025, Dong Nai must achieve 11.52% growth in the second half, including 10.97% in Q3 and 12.02% in Q4, a significant challenge. According to Vice Chairman of the Provincial People's Committee Ho Van Ha, Dong Nai is determined to fully disburse over VND30 trillion in public investment. The province also plans to launch 8 major projects on August 19, with total investment exceeding VND50 trillion. It will actively mobilize private, foreign direct, and social investment to support growth objectives.

Provincial departments and localities have been directed to take immediate, decisive action, avoid delays, and quickly identify and address challenges in order to implement effective solutions for the remaining months of the year.

By V. The/Translated by M.Nguyet-H.Trang