Technological advancements key to growth transformations: official
Technological innovation, technology transfer, and workforce training form the core strategy for transforming the nature of Vietnam’s economic growth in the coming years, Deputy Prime Minister Ho Duc Phoc remarked at the 17th Vietnam Economic Scenario Forum’s spring 2025 plenary session in Hanoi on January 7.
Deputy Prime Minister Ho Duc Phoc said all the 15 socio-economic targets set for 2024 were successfully achieved. The economy grew by 7.09%, with the GDP reaching approximately US$476.3 billion, placing Vietnam 33rd globally. Total trade turnover was estimated at nearly US$800 billion, with a trade surplus of US$24.77 billion. State budget revenue exceeded projections by 19.8% to exceed VND2 quadrillion (US$78.83 billion), while the poverty rate was reduced to just 1.95%.
He stated that the Government is focusing on the three strategic breakthroughs outlined by the 13th National Party Congress, namely institutional reform, infrastructure building, and human resource development. In recent times, particularly in the final months of last year, several laws were revised to address bottlenecks and unlock resources.
Phoc noted that in 2025, the Government plans to allocate approximately VND800 trillion in public investment for infrastructure development, prioritising key projects such as expressways, Long Thanh International Airport, and preparations for the North-South high-speed railway project, whose construction is scheduled to begin in 2027.
The investment will focus not only on transport infrastructure, such as roads and ports, but also on infrastructure for the electricity sector (nuclear power and renewable energy), industrial zones, and economic areas, he added.
Deputy head of the Party Central Committee's Economic Commission Nguyen Hong Son described the forum as an opportunity for experts, scientists, and policymakers to collaborate on solutions to Vietnam’s challenges.
He said the commission is working on a project on strategic solutions to boost economic growth to double digits during the new era of the nation's rise, adding the project, set to be submitted to the Politburo in Q3 2025, will draw on insights gathered from this forum.
With two sessions of discussions and presentations, participating experts analysed global and regional economic trends for 2025, opportunities and challenges for Vietnam, and innovative solutions for the nation to achieve high growth and sustainable development.
