Government, localities reaffirm commitment to double-digit growth
VOV.VN - Cabinet leaders and local authorities reaffirmed their commitment to achieving double-digit growth in 2026 at a conference on July 4, as economic indicators pointed to strong growth in the first half of the year.
A regular Government meeting for June 2026 and an online conference between the Government and 34 provinces and cities nationwide took place on the morning of July 4 at Government Headquarters in Hanoi.
At the meeting, provincial and municipal leaders reiterated their determination to meet the double-digit growth target and pledged concrete measures to contribute to the country’s overall growth goals.
Opening the meeting, Prime Minister Le Minh Hung emphasised decisive action, strong determination and accountability, saying the Government and local administrations had delivered timely and effective policy responses.
As a result, socio-economic performance in the first half of the year continued to improve, with significant results and each quarter performing better than the previous one thus creating a solid foundation for 2026, he said.
The Government leader called for in-depth analysis of core issues and comprehensive policy solutions to ensure fast and sustainable development.
He urged participants to assess whether current results fully indicate the country’s potential and available resources, whether maximum efforts had been made in implementing key tasks and solutions in the first half of the year, and what measures should be prioritised in the remaining six months to achieve double-digit growth while maintaining macroeconomic stability.
Reporting on socio-economic performance in the first half of 2026 and key tasks for the remaining months, Minister of Finance Ngo Van Tuan said GDP growth in the second quarter was estimated at 8.39% year-on-year, bringing first-half growth to 8.18%, the highest level recorded since 2011.
Industry, construction and services contributed more than 88% of total growth, while nine localities posted double-digit growth.
The country’s two major economic centers , Hanoi and Ho Chi Minh City, also recorded stronger recovery and growth compared with May.
Nearly 170,000 enterprises entered the market during the reviewed period , while second-quarter consumption rose 13.9%.
International arrivals to Vietnam hit a record 12.25 million, up nearly 14.9% year-on-year. Total registered FDI exceeded US$34 billion, while total trade was estimated at US$549 billion, with imports reaching US$283 billion, mainly serving industrial production.
Minister Ngo Van Tuan went on to say that macroeconomic stability was broadly maintained, inflation was kept under control and energy security was ensured.
The consumer price index (CPI) in June fell 0.39% from the previous month. Fuel supply was kept stable, with prices around 15% lower than regional levels. State budget revenue in the first six months was estimated at nearly VND1.57 quadrillion, equivalent to 62% of the annual target.
Public investment disbursement improved, with nearly VND357 trillion disbursed in the first half, equivalent to 35.5% of the annual plan.
At the conference, leaders of Hanoi and Ho Chi Minh City also reaffirmed their commitment to the double-digit growth target.
Chairman of the Hanoi People’s Committee Vu Dai Thang outlined three key drivers supporting Hanoi’s growth target, including the 2026 Capital Law, major infrastructure projects and large-scale urban development projects.
Chairman of the Ho Chi Minh City People’s Committee Nguyen Van Duoc reaffirmed the city’s determination to achieve double-digit growth and target budget revenue of over VND1 quadrillion.
Ho Chi Minh City will mobilise all available resources, accelerate private investment, fully disburse public investment and speed up planning approval to help drive growth, Duong emphasized.
Participants at the conference called for stronger efforts to fully tap the country’s growth potential and maximise available resources.
Regarding capital mobilisation for growth, Deputy PM Nguyen Van Thang said sufficient and timely financial resources must be ensured at reasonable cost.
Monetary and fiscal policies should be coordinated more closely to support production, business activities and priority sectors, Thang stressed.
He added that the economy must not face capital shortages and businesses must have sufficient access to funding. As the capital market is still gradually developing, bank credit will continue to play a leading role in supporting economic growth in the near term. Efforts should also be stepped up to ensure that medium- and long-term capital needs of the economy are largely met by 2030.
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