Vietnam’s economy grew 7.52% in the first half of 2025 compared to the same period last year, a performance deemed highly encouraging and one that eases pressure on the remaining quarters while laying a strong foundation for meeting the full-year growth target.

The General Statistics Office (GSO) confirmed that the first-half GDP growth rate of 7.52% closely aligns with the updated growth scenario set earlier this year. In its Q1 socio-economic report, after reviewing initial estimates and evaluating future growth potential, the GSO adjusted the growth scenario to target an 8% annual increase.

According to the updated scenario: Q1 growth reached 6.93%, Q2 was 8.19%, bringing the six-month average to 7.58%, followed by projected Q3 growth of 8.27% and Q4 at 8.46%. With actual performance now at 7.52%, Vietnam remains well within the projected trajectory.

While the 7.52% growth is a positive step, it is only a foundational condition for reaching the 8% target. Achieving this will require fully leveraging growth drivers and executing timely, flexible, and coordinated economic policies over the next six months.

Based on first-half data, the GSO has now updated its full-year growth scenario: H1 GDP at 7.52%, H2 at 8.42%, and the full year averaging 8%. Quarterly targets include 7.05% for Q1, 7.96% for Q2, 8.33% for Q3, and 8.51% for Q4.

Several sectors are expected to fuel economic expansion in the latter half of the year:

Public investment will be a primary engine, propelled by efforts to accelerate disbursement and implement critical national infrastructure projects, such as expressways, airports, urban belt roads, and energy projects.

Science, technology, and digital transformation are identified as strategic drivers for upcoming quarters. Enterprises are anticipated to have greater access to and adoption of artificial intelligence (AI), enabling cost savings, enhanced productivity, and stronger global competitiveness.

Consumer spending will also receive a boost from domestic demand-stimulus policies, including a 2% VAT reduction on a broad range of goods and services starting July 1, 2025.

Monetary policy is aligned to support economic expansion, with a targeted credit growth rate of 16%. This adjustment provides abundant capital for businesses, spurring production, investment, and consumption across the economy.

In alignment with national development goals, the National Assembly passed Resolution 192/2025/QH15 on February 12, 2025, officially supplementing the 2025 socio-economic development plan to target a GDP growth rate of 8% or higher.

The resolution also revised other key indicators, aiming for a GDP size of over USD 500 billion, per capita GDP of more than USD 5,000, and an average consumer price index (CPI) increase of 4.5% to 5%.

To implement this resolution, the Government has instructed all ministries, sectors, and localities to prioritize high growth while maintaining macroeconomic stability, controlling inflation, and ensuring key economic balances. The 8% GDP target for 2025 remains the national priority.

PV