At a monthly regular cabinet meeting held in Hanoi on December 7, Deputy Minister of Planning and Investment Tran Quoc Phuong said that most forecasts from international organizations have adjusted the nation's growth rate in a more positive direction.
In the socio-economic management scenario that the Ministry of Planning and Investment reported to the Government, in the fourth quarter of 2024, if there are no major fluctuations or negative impacts from the external market, Vietnam is likely to achieve a growth rate of 7% for the whole year of 2024.
Economic growth drivers are all quite positive, with relatively good export signals and businesses receiving more orders.
Investment also showed positive signs, contributing greatly to economic growth in 2024. In terms of consumption, Phuong said that recently there has been a lot of information about the "invasion" of shopping on e-commerce platforms by foreign companies, but in general, consumption of goods remains positive with growing demand for shopping during the upcoming Christmas and New Year holidays.
Regarding the tourism sector, according to statistics, there was an increase in tourists coming to Vietnam in November 2024, but there are still 2 million more visitors to achieve this year's target of 18 million, thus requiring the tourism sectors to make greater efforts, he emphasized.
The Deputy Minister of Planning and Investment affirmed that with the great efforts of all levels and sectors in the final month of the year, alongside the solutions proposed at the beginning of the year, the annual growth target of 7% is achievable, and even at a higher level.
Phuong emphasized said greater efforts are need to achieve a growth target of 6.5 - 7% set for 2025 by the National Assembly.
With fundamental changes in 2025, especially breakthrough thinking in refining institutions, removing difficulties in administrative procedures from laws adopted at the 8th session of the 15th legislature, there will be more resources to make great contributions to next year's growth target.
"We have the foundation to achieve the set target, as there is a continuation of the good growth momentum in 2024. With high determination, the Government has set a growth target of 8% in 2025, which is viewed as a step for us to be ready to enter a new era, the era of the nation's rise. To achieve the noble goals of the Party and State, the economic growth target is a very important task," the Deputy Minister emphasized.
