Le Thi Nga, Deputy Chair of the National Assembly’s Committee on People's Aspirations and Supervision, notes that gold price management remains ineffective, with domestic prices higher by VND20 million per tael than global rates. In addition, real estate prices keep rising, making it difficult for the poor to access housing.

The NA’s Standing Committee on October 15 gave opinions on the summary report on implementing the 2025 socio-economic development plan, and the expected 2026 plan.

Reporting on the 2025 situation, Deputy Minister of Finance Nguyen Duc Chi said the socio-economic situation continues to achieve important results in most fields, mostly meeting the overarching objectives.

Vietnam is expected to meet and exceed 22 of 26 main socio-economic indicators for the 2021-2025 period, nearly meet two indicators, and fail to meet the other two. Despite difficulties, all social targets have been completed, laying a solid foundation for higher development.

Regarding the GDP growth rate, the figure was just 2.55 percent in 2021 due to the Covid-19 pandemic, but the following four years (2022–2025) are estimated to average 7.2 percent, exceeding the set target. 

The average for the entire 2021-2025 period is 6.3 percent, close to the original goal of 6.5-7 percent.

For 2026, the Ministry of Finance (MOF) has proposed 15 key targets, including a GDP growth rate of 10 percent, GDP per capita of $5,400–$5,500, and a consumer price index (CPI) increase of around 4.5 percent.

Presenting the review report, Chair of the Economics and Financial Committee Phan Van Mai noted that growth targets are under pressure, as key drivers such as exports, consumption, and investment have yet to generate strong momentum.

Macroeconomic stability faces numerous risks. Inflation is under control, but prices of essential goods remain high, directly affecting the lives of citizens, especially low-income groups. Economic restructuring is still slow, lacking significant breakthroughs.

While institutional and legal reforms have been accelerated, they still lag behind development demands. To date, 55 detailed legal documents remain unissued. Overlapping and inconsistent regulations are causing delays in investment, land, construction, and planning.

Exchange rate management continues to face challenges. The corporate bond market has yet to recover, while the gold market remains volatile, eroding public confidence and limiting the ability to mobilize medium- and long-term capital.

The two-tier local government model still encounters issues related to organizational structure and staffing. Meanwhile, climate change and natural disasters continue to threaten sustainable development goals.

Regarding the 2026 plan, the Standing Committee on Economic and Financial Affairs emphasized the need for highly proactive and flexible policy management, balancing macroeconomic stability with the enhancement of internal capacity, resilience, and the ability to seize opportunities from global supply chain restructuring to boost national competitiveness.

The Standing Committee expressed agreement with the major orientations, overall goals, key indicators, and 11 task and solution groups outlined in the Government's report.

VN’s economic ranking globally

NA Vice Chair Nguyen Khac Dinh praised the many positive achievements of the year. He recalled that by late 2024, the Government had presented a resolution setting a modest growth target of 6.5–7 percent, aiming for 7–7.5 percent. 

“That was already a challenging target at the time,” Dinh said.

In late 2024, after assuming office, Party Chief To Lam issued strong directives to usher in a new era. He proposed and received full support from the Central Committee and Politburo to set a growth target of 8 percent for this year.

“This 8 percent target wasn’t arbitrarily set, but it was the result of deep consideration and real-world insights,” he said.

“Adjusting the growth target to 8 percent is extremely important. It shows that based on practical conditions, we were willing to revise our goals and reflect the strong determination of the Party, Government, and National Assembly. This 8 percent is not just an economic growth figure, but it represents comprehensive national development,” Dinh emphasized.

With the growth rate of above 8 percent, the size of Vietnam’s economy by the end of this year will exceed $500 billion, and per capita GDP will surpass $5,000. “This means we are no longer a small country, with our economy now ranked around 32nd–33rd globally,” he added.

Meanwhile, Vice Chair of the National Assembly Tran Quang Phuong raised concerns about pollution, traffic congestion, and urban flooding, not only in major cities. In several recent cases, severe flooding and flash floods occurred even where rainfall was not especially high. 

Tran Thuong