PM expects Vietnam’s GDP to hit 8% growth target this year

This is a reflection of the Vietnamese spirit of "the greater the pressure, the greater the effort," he told at the Vietnam Private Economic Landscape Program 2025 on Friday.

In the third quarter, national GDP increased by 8.2%, resulting in a nine-month growth rate of 7.85%.

The Generarl Statistics Office calculates that a 8.4% GDP growth in the fourth quarter is necessary to meet the full-year target of 8%.

Prime Minister Pham Minh Chinh speaks at the Vietnam Private Economic Landscape Program 2025 in Hanoi on Oct. 10, 2025. Photo by Private Sector Development Committee

PM Chinh added that this year’s revenue is expected to exceed the VND2 quadrillion target by 25%, with the surplus set to be used for "major initiatives" and to ensure social welfare for the people.

He emphasized that ambitious goals and tasks drive Vietnamese people to strive harder and act more decisively.

He urged businesses to push beyond their limits to grow faster and stronger, particularly in science and technology, innovation, and green and digital economies.

He called on private enterprises to align their development goals with national objectives, specifically Vietnam’s aim to become a developing country with a modern industrial base and upper-middle income by 2030, and a high-income country by 2045.

Businesses in infrastructure and competitive-advantage industries proposed at the conference a world-class maritime hub project in HCMC with a $20 billion investment, alongside offshore wind power projects in southern Vietnam to address logistics and energy challenges and strengthen the country’s global position.

Another proposed initiative was to provide free healthcare for 100 million people through public-private collaboration.