Vietnam's Economic Ambitions: Growth Beyond Expectations

Vietnam aims to surpass a GDP growth of 7.0% in 2023, fueled by increased public investment and foreign investment. Despite facing challenges like Typhoon Yagi, the country is determined to boost exports and industrial production. Prime Minister Pham Minh Chinh emphasizes maintaining fiscal responsibility and anti-corruption efforts.

The Prime Minister of Vietnam, Pham Minh Chinh, announced that the country's GDP is projected to grow between 6.8% and 7.0% this year. Addressing the parliament, he stressed the government's target to exceed this range, showcasing confidence in economic progression.

Chinh highlighted that Vietnam's public debt remains well-managed, keeping under the ceiling determined by the National Assembly. Looking towards 2025, he set ambitious goals for a 7.0% to 7.5% growth rate, driven by a 15% credit growth target and strategic public investments, especially in transport infrastructure. The plan includes attracting foreign investments and widening export markets.

Despite challenges such as Typhoon Yagi's recent impacts, Chinh assured that they won't hinder Vietnam's commitment to advancing its economy. He pledged there will be no power shortages in the coming year, countering 2023's industrial disruptions. Anti-corruption measures and strengthening defense capabilities remain priorities.

(With inputs from agencies.)