Prime Minister Pham Minh Chinh chaired a regular cabinet meeting in Hanoi on October 5 that was connected online with all localities nationwide to review the socio-economic performance in September and the nine-month period of 2025.

Opening the session, the Government leader stressed that the gathering is vital to accelerate progress in the final quarter and fulfill the socio-economic targets set for 2025 in line with the 13th National Party Congress resolutions.

According to the Prime Minister, the country is nearing the end of the five-year term of the 13th Party Congress amid growing global uncertainties, including prolonged conflicts and instability in several regions, including parts of ASEAN, intensifying strategic competition and trade tensions, a global growth slowdown, volatile financial and monetary markets, rising public debt, and record-high gold prices.

Domestically, the Government is focusing on six key tasks: operating the two-tier local administration model; boosting economic growth to 8% or higher as directed by the Party Central Committee, the National Assembly and the Government; implementing breakthrough resolutions of the Politburo; preparing for the 13th Party Central Committee meeting and the 10th session of the 15th National Assembly, where 50 draft laws and resolutions, the largest number ever in a single session, are expected to be submitted; organizing Party congresses at all levels toward the 14th National Party Congress; and stepping up disaster prevention and recovery.

Thanks to close direction from the Politburo and Secretariat, led by Party General Secretary To Lam, domestic socio-economic situation has continued to improve, with each month and quarter performing better than the previous one.

The macroeconomy has remained stable with inflation under control, major balances maintained, and growth gaining momentum, while progress has also been seen in culture, politics, social welfare, defence, security, foreign affairs, and international integration.

However, the PM pointed that challenges remain significant, citing considerable external headwinds, particularly from US tariff measures and policies of major economies as well as the contraction of several traditional export markets.

Domestically, macroeconomic management continues to face pressure from exchange rate and price volatility. Traditional growth engines have fallen short of expectations, whereas new drivers will take time to fully materialize. The two-tier local administration model remains constrained by issues in staffing, administrative coordination, and digital infrastructure. Meanwhile, successive storms and floods have caused severe damage, and the country is now preparing to respond to typhoon Matmo.

The cabinet leader asked the meeting to thoroughly assess developments in September and the nine-month period, identify new and distinct factors affecting the country, evaluate Government performance in implementing Party and State directives, and draw lessons and solutions for the final quarter.

Despite global headwinds, he affirmed that the country must stay focused on achieving its ambitious growth target of 8.3-8.5% in 2025 to build stronger foundations for the coming period. He emphasized the need to keep inflation under control, maintain macroeconomic stability, ensure major economic balances, and at the same time promote progress in culture, social affairs, environment protection, national defence, security, and foreign affairs.

PM Chinh also urged stronger efforts to expand social housing, ease pressure on the commercial housing segment, lower property prices, and improve living standards.

He requested participants to give direct feedback on the draft resolution for immediate finalization and issuance after the meeting.

PM directs solutions to achieve 2025 economic growth target

The Prime Minister urged the promotion of industrial production in tandem with market restructuring, product diversification, and the development of supply and production chains.