Vietnam PM sets out investment needs for 10% growth target in 2027

Vietnam needs total social investment equivalent to around 36-38% of GDP in 2027 to support its growth ambitions, Prime Minister Le Minh Hung told the National Assembly on November 12. He said the government would seek more capital while prioritising inflation control and economic stability.

The National Assembly approved a plan on November 7 targeting economic growth of 10% in 2027 and inflation of around 4.5%. Hung said the government remained determined to deliver growth above 10% for 2026, also with inflation at around 4.5%.

Of the investment needed in 2027, development funding from the state budget is expected to reach around ₫1.76 quadrillion, accounting for 27-29%. Hung outlined plans to raise budget revenue, make expenditure savings, issue bonds, obtain official development assistance loans and mobilise credit. The government also intends to encourage investment from state-owned enterprises, private businesses and foreign investors.

Hung reported that average consumer price index growth stood at 4.57% during the first 10 months. He cited government support measures including tax relief, a 2% cut in electricity prices and guidance for a 30% income tax reduction for businesses and household businesses in 2026-2027.

Registered foreign direct investment reached US$54.85 billion in the first 10 months, rising 74%, while disbursements increased 13.1% to US$24.08 billion, according to figures presented by Hung.

The prime minister said further measures would include securing supplies of fuel, electricity and essential goods, making pricing transparent and assigning local authorities specific CPI-control targets. He also outlined efforts to improve productivity, investment efficiency and digital public services.