Despite unprecedented challenges from the COVID-19 pandemic, geopolitical tensions and global economic volatility, Vietnam has maintained macroeconomic stability and sustained growth, laying a solid foundation for long-term development.

“At this time, Vietnam has accumulated enough strength, determination and resolve to move into an era of a strong and prosperous nation,” said Party General Secretary To Lam, underscoring that the country’s development momentum is rooted in tangible achievements rather than aspirational goals.

Social progress strengthens development foundations

One of Vietnam’s most significant achievements has been poverty reduction. According to the World Bank, more than 10 million people have escaped poverty over the past decade, with the international poverty rate falling from nearly 17% to about 5%.

Under Vietnam’s multidimensional poverty standard, the poverty rate has declined to below 5%, reflecting broad-based improvements in income, health care, education and living conditions. The results are attributable to consistent policymaking and implementation of targeted social protection programmes, under the leadership of the Party and the decisive management of the State.

“We have achieved all the major indicators and targets, aiming to ensure that farmers, the poor, and those in difficult circumstances can access social policies,” said Vo Van Hung, Deputy Minister of Agriculture and Environment.

Economic scale expands amid macroeconomic stability

Vietnam’s economy has continued to expand in both scale and competitiveness. By 2025, gross domestic product is estimated to exceed US$500 billion, placing the country among the 30–32 largest economies globally. Per capita income is projected to surpass US$5,000, signaling improving growth quality.

According to experts, the foundation of sustainable growth lies in self-reliance and macroeconomic stability. Economist Le Duy Binh stated that Vietnam’s long-term sustainability depends on maintaining macroeconomic stability and policy autonomy.

“Economic self-reliance must be reflected first and foremost in macroeconomic stability,” said Dr. Binh, citing prudent monetary, fiscal and trade policies and a controlled public debt ratio.

“We must ensure fiscal autonomy, avoid excessive borrowing, and maintain a reasonable public debt ceiling. Trade must also be autonomous.”

Vietnam is also accelerating engagement articipation in the Fourth Industrial Revolution. The digital economy now contributes around 18% of GDP, growing significantly faster than the overall economy. Digital transformation, science and technology, and innovation have been identified as core drivers of future growth, with e-commerce and cross-border digital trade gaining prominence.

Institutional reform provides strategic momentum

In recent times, the Party’s Politburo has issued nine major strategic resolutions covering critical development areas, creating a long-term policy framework for national advancement.

Along with strategic resolutions, breakthroughs in institutions, infrastructure, and human resources have been implemented synchronously. The recent session of the 15th National Assembly was described as historic as it passed a series of landmark laws and resolutions, widely seen as a turning point in Vietnam’s governance approach, from administrative control toward development facilitation. The reforms aim to remove institutional bottlenecks, strengthen accountability and improve policy execution.

Vice Chairman of the National Assembly Do Van Chien said institutional reform is decisive in unlocking productivity, fostering innovation and reinforcing Vietnam’s self-reliance in the next development phase.

“If it is done effectively, it will provide a solid legal foundation for national self-reliance and sustainable prosperity, improving living standards for the people,” said the senior legislator.

Rising international profile

Vietnam’s growing economic and political stability has translated into increased international credibility. The country is an active participant in regional and global cooperation mechanisms and a signatory to multiple free trade agreements, including next-generation FTAs.

Vietnam is increasingly viewed as a reliable investment destination and a responsible partner contributing to peace and sustainable development, according to international observers.

Alvaro Pereira, Chief Economist of the Organisation for Economic Cooperation and Development (OECD), said Vietnam stands out globally for its rapid growth, noting that average income has doubled roughly every decade due to sound macroeconomic management, effective government policies and strong social dynamism.

“Vietnam is one of the fastest-growing economies in the world today,” he said.

Outlook toward 2045

Scholars and policy experts are confident in Vietnam’s long-term trajectory, with the goal of achieving high-income status by 2045 widely considered attainable if reforms and innovation continue.

“I have strong confidence in the future of the nation and in the Party’s leadership. The Vietnamese people have consistently demonstrated resilience, creativity and the capacity to overcome hardship across generations. As the country enters a new era, these qualities continue to serve as a foundation for development,” said Professor Phan Xuan Son, former senior lecturer at the Ho Chi Minh National Academy of Politics

In his view, the 14th National Party Congress sets the direction for building a modern, ethical and forward-looking Party, capable of guiding Vietnam toward standards comparable with other advanced nations.

Echoing this view, Party General Secretary To Lam stressed that economic growth must translate into tangible benefits for the population.

“Living standards must continue to improve, and the people must be able to share fully in the country’s development gains,” he said.

Guided by this principle, Vietnam is making steady progress toward its goal of achieving high-income country status by 2045. Building on its accumulated achievements, and driven by a spirit of self-reliance, confidence and reform-oriented action, the country is seeking to capitalise on emerging opportunities, navigate global challenges and pursue rapid, sustainable development in the decades ahead.

Party Congress XIV: 10% GDP growth challenging but within reach

VOV.VN - The target of average GDP growth of 10% a year for the 2026-2030 period, set by the 14th National Party Congress, is seen as a fundamental foundation for the country to enter a new era of the nation’s rise.