On 20/1, the government issued Resolution 01 detailing tasks and solutions for socio-economic development and the state budget estimate for 2026.
The resolution emphasizes that 2026 is a crucial year, marking the start of a new development phase. While the international landscape is expected to remain complex and unpredictable, domestic factors present a mix of advantages and challenges.
The government has instructed all levels, sectors, and localities to prioritize administration to achieve a national GDP growth target of 10% or more in 2026. This objective is linked to ensuring macroeconomic stability, controlling inflation, and maintaining major economic balances.
As part of this effort, provinces and cities are tasked with reviewing and developing quarterly GRDP growth scenarios, categorized across three economic sectors. Ministries and sectors must also prepare specific scenarios for their respective management areas. All reports are to be submitted to the Ministry of Finance in February for compilation and monitoring.
 |
Lach Huyen Port complex, Hai Phong, 20/1/2025. Photo: Le Tan
According to the resolution, the government stresses the need to innovate thinking, governance, and resource allocation, implementing various solutions to transform the growth model. Science and technology, innovation, and digital transformation are identified as key drivers, working alongside other economic components to generate resources for development.
The government also highlighted the importance of strengthening discipline, improving institutions by increasing decentralization and delegation of power, promoting accountability among leaders, and combating corruption and waste. Furthermore, ministries and sectors need to continue reducing administrative procedures, enhancing the business environment, and boosting investment in strategic infrastructure such as transportation and energy.
During the government's online conference with localities on 8/1, leaders from Ha Noi, TP HCM, Phu Tho, and Quang Ngai pledged to achieve an economic growth target of over 10% this year.
Last year, according to data recently released by the General Statistics Office, national GDP increased by 8,02% compared to 2024. This rate was only lower than the 2022 growth rate (8,12%) over the past 15 years. Local GRDP growth rates ranged from 5,84-11,89%.
Nationwide, 20 provinces and cities recorded GRDP growth of 8% or more, with six localities achieving growth rates above 10%. Quang Ninh and Hai Phong had the highest rates, at 11,89% and 11,81% respectively. This group also includes Ninh Binh, Phu Tho, Bac Ninh, and Quang Ngai.
Phuong Dung
