Vietnamese Prime Minister Pham Minh Chinh has outlined plans for an unprecedented economic expansion, setting an ambitious target of at least 10% GDP growth in 2026. Speaking at the opening of a new parliamentary session on Monday, Chinh highlighted the nation’s adaptability amid ongoing global economic turbulence, emphasizing the country’s resilience in the face of external challenges.
Chinh noted that Vietnam’s GDP is projected to grow by 8% this year, reaffirming the government’s commitment to maintain annual growth above this threshold, saying that the Vietnamese economy has proven to be strong enough to withstand external shocks, staying as one of the fastest-growing ones in the world.
During the first three quarters, GDP expanded at a 7.85% annual pace. The World Bank forecasts Vietnam’s 2025 growth at 6.6%, while the International Monetary Fund projects a 6.5% rise.
Chinh also addressed Vietnam’s trade outlook. The value of the country’s goods trade is expected to hit $900 billion in 2025, despite export slowdowns to the U.S. resulting from a 20% tariff, particularly affecting the footwear and textile sectors.
He reiterated Vietnam’s strategy to sign new free trade agreements next year with partners in the Middle East, Latin America, and Africa, aiming to broaden export markets. Additionally, Chinh announced government plans to begin building a multi-billion-dollar North-South high-speed railway and to introduce satellite internet services in 2025.
