Fiscal measures to support double-digit growth in 2026
VOV.VN - Vietnam’s GDP grew an estimated 7.83% in the first quarter of 2026, higher than the same period last year but below the 9.1% target set in the Government’s growth scenario, requiring stronger expansion in the remaining quarters to achieve a double-digit growth rate for the whole year.
In a context of global uncertainties, particularly in energy markets, fiscal policy is identified as a key solution to sustain traditional growth drivers such as exports and domestic consumption, while promoting new drivers including science and technology, the green economy and the digital economy.
According to the Ministry of Finance, to offset first-quarter performance, GDP growth in the remaining quarters needs to exceed 10%, with projections of around 10.5% in the second quarter, 10.6% in the third quarter and 10.74% in the fourth quarter.
The ministry said it will continue to propose fiscal measures to support the economy, while strengthening efforts to combat revenue losses, transfer pricing and tax evasion, and to tap potential revenue sources more effectively. Government bond issuance will be managed flexibly, alongside efforts to diversify funding channels for the state budget.
It also plans to propose measures to attract international investment funds, encourage foreign-invested enterprises to reinvest in Vietnam in conjunction with technology transfer, and study the establishment of a digital asset exchange and the development of a carbon credit market.
Government Decree No. 20/2026 on private sector development is expected to create more favourable conditions for businesses. Under the decree, research and development (R&D) costs can be counted at up to 200% for tax deduction purposes, while land rental fees may be reduced by 30% in industrial parks and incubators.
At the same time, accelerating the disbursement of public investment, particularly for key national projects, remains an important measure for growth. Bottlenecks related to procedures and site clearance have largely been removed, though stronger implementation is still required.
The Ministry of Finance said it will continue to implement fiscal management measures in the remaining quarters of 2026 to support economic growth and strive to achieve a double-digit expansion target.
Achieving double-digit growth challenging but essential: Minister
Achieving double-digit growth is highly challenging but essential for meeting Vietnam’s long-term development goals, stated Finance Minister Ngo Van Tuan on April 21 at the ongoing first session of the 16th National Assembly (NA).
