Thang reported that GDP growth in the second quarter reached 7.67%, bringing the six-month figure close to the target scenario of 7.6%.

This is the strongest performance for the same period since 2005, demonstrating the determination and agility of the entire system in responding to difficulties, he noted.

According to the Minister, Vietnam has maintained macro-economic stability, controlled inflation, and ensured major economic balances despite continued external and domestic pressures.

Manufacturing and processing surged by 10%, marking the first time since 2011 it has recorded double-digit growth in a six-month period. Exports increased by 14.4%, with a trade surplus of US$7.63 billion, while retail sales and consumer services revenue rose by 9.3%.

In addition, international arrivals reached 10.7 million, up 20.7% year-on-year. Registered FDI topped US$21.5 billion, the highest since 2009, and disbursed FDI exceeded US$11.7 billion, up 8.1%.

More than 152,700 new and returning businesses joined the market in the first half, 20% higher than the number enterprises withdrawing from the market.

Additional capital injected into the economy in the first six months hit nearly VND2.8 quadrillion, a sharp 89% increase compared to the same period in 2024.

Other sectors including education, science and technology, defence, security, and cultural development were also prioritised. A major public administration reform milestone was reached on July 1, as all 34 localities officially activated the two-tier local government system following the announcement of central and local resolutions on June 30.

With regard to foreign relations, a notable breakthrough came on July 2 as Vietnam and the United States agreed on a joint statement outlining a framework for a reciprocal, fair, and balanced trade agreement. The result was followed by a phone call between Party General Secretary To Lam and US President Donald Trump, reaffirming the two countries’ comprehensive strategic partnership and exploring enhanced cooperation in high-tech sectors.

Despite the strong performance, the Finance Minister warned of continued challenges in the months ahead, particularly in exchange rate management, institutional reforms, and legal modernisation.

To ensure growth targets are met in quarter and the remainder of 2025, the Ministry of Finance proposed a series of key measures, including closely monitoring the new two-tier government structure to resolve any administrative bottlenecks; and boosting exports, stimulating domestic consumption and investment, and fostering new growth drivers.

He stressed the need to strengthen revenue management and digital transformation in tax and customs systems; strive for a 15% increase in state budget revenue over the target and maintain a tax-to-GDP ratio of 16%; and closely track price fluctuations of essential goods and adopt timely interventions to stabilise the market and prevent speculation.

Vietnam sticks to economic growth target of more than 8% this year

VOV.VN - The government of Vietnam is expected to maintain its economic growth rate of 8% and beyond this year despite a 6.93% rate in the first quarter.