Vietnam PM seeks GDP growth above 12.5 per cent in fourth quarter
Ministries and local authorities were urged to disburse their full public investment allocations as Vietnam pursues double-digit growth for 2026.
Vietnam’s prime minister has directed officials to pursue economic growth exceeding 12.5 per cent in the fourth quarter to meet the government’s double-digit target for 2026. The instructions came at a government meeting in Hanoi reviewing economic and social conditions and priorities for the remaining months.
GDP expanded by 9.95 per cent compared with a year earlier in the third quarter, taking estimated growth for the first nine months to 9.01 per cent. The prime minister asked local administrations to revise their growth scenarios using those results, identify gaps against their targets and set out measures for the final quarter.
Ministries and local authorities were told to aim for 100 per cent disbursement of their public investment plans, keep key projects on their 2026 timetables and tackle delays. The Ministry of Finance must review proposals for reallocating investment capital between ministries, agencies and localities.
The government plans to encourage domestic demand and make use of year-end spending and tourism while maintaining price stability. The finance ministry was instructed to submit a government decree proposing a 30 per cent corporate income tax reduction for businesses and household businesses whose annual revenue does not exceed ₫10 billion. It must also examine simpler tax administration procedures.
The State Bank of Vietnam was directed to use monetary policy measures to stabilise interest rates and the foreign exchange market. Separately, the Ministry of Industry and Trade must prepare to implement the reciprocal trade agreement once it is signed, prioritising exports, management of the trade deficit and assistance for businesses facing international trade fluctuations.
Officials were also told to keep major transport projects on schedule and maintain supplies of essential goods. The prime minister ordered no increase in electricity prices and called for price controls aimed at meeting the National Assembly’s approved inflation target for 2026.
