Vietnam has unveiled an ambitious economic strategy targeting sustained 10% annual GDP growth and aiming to elevate the nation into the top 30 global economies by 2030.
Deputy Prime Minister Nguyen Hoa Binh stated earlier this week in Hanoi that Vietnam aims for a total economic value exceeding $510 billion and a per capita income of $8,500 by the end of the decade. This trajectory would position Vietnam as the third-largest economy in Southeast Asia and roughly 32nd globally, a rise of five places in five years.
For the current year, Vietnam projects its per capita income to surpass $5,000, significantly up from $3,552 in 2020. The government also forecasts GDP growth for 2025 to exceed 8%, setting the groundwork for subsequent double-digit expansion.
The nation expects total trade volume to reach $850 billion by year-end, which would establish it as one of the top 20 trading countries worldwide.
Speaking at the first Cabinet Party Assembly meeting for the 2025-2030 term, Prime Minister Pham Minh Chinh acknowledged Vietnam’s continuous successes. He emphasized the government’s commitment to maintaining economic stability and controlling inflation even amidst high global uncertainties during the 2026-2030 period.
The government plans to achieve these goals through a comprehensive development agenda. This includes modernizing its education system to regional and global standards, investing in high-quality human resources, and developing integrated infrastructure, particularly in major urban centers and rural areas.
Deputy Prime Minister Binh also highlighted key economic drivers, focusing on digital transformation, a green economy, and a circular economy. The government plans to support the private sector as a primary engine of national growth.
Officials underscored their commitment to fiscal responsibility. They aim to keep inflation at appropriate levels and maintain public debt and budget deficits within safe parameters.