The meeting was held to review the country’s performance in October and the first 10 months of 2025 and set directions for the remaining months of the year.

Optimism on the back of 10-month performance

The PM commended and highly appreciated all ministries, sectors, agencies, and localities for their extraordinary efforts in overcoming difficulties and challenges to achieve significant results across most areas during the first ten months of the year, contributing to the comprehensive fulfillment of the targets for both 2025 and the 2021–2025 period.

According to the Government leader, if this momentum is maintained, the economy could grow by more than 8% in 2025. He also noted that localities with higher public investment disbursement rates tend to record higher GRDP growth, and vice versa.

“GDP expanded 7.85% in the first nine months, and to reach over 8% for the whole year, fourth-quarter GDP must increase by more than 8.4%, including about 9.4% in industry, 8.3% in services, and 4% in agriculture, with the digital economy accounting for roughly 20% of GDP,” the PM told the meeting.

While acknowledging these positive outcomes, the Prime Minister candidly pointed out remaining difficulties and challenges, particularly the increasingly complex and unpredictable natural disasters and floods, which have caused estimated losses of about VND40 trillion and could reduce national GDP growth by around 0.2% this year.

Highlighting major priorities for the coming months, he requested revitalising traditional growth drivers and strongly promoting new ones.

For traditional growth drivers, he instructed the entire political system to strive to disburse 100% of the planned public investment capital, simplify administrative procedures, attract strong FDI inflows, and stimulate private investment.

At the same time, he urged vigorous promotion of new growth drivers, namely science and technology, innovation, digital transformation, the green and circular economy, creative industries, free trade zones, emerging industries such as semiconductors, artificial intelligence, and renewable energy, as well as regional connectivity, urban development, and efficient use of underground, space, and marine resources. Institutional reform, he emphasised, must become a true competitive advantage.

“By the end of December, there must be no areas nationwide lacking mobile or electricity coverage,” the Prime Minister stressed.

On monetary policy, he requested strict inflation control in line with set targets, ensuring the stability of the local currency (Vietnamese đồng – VND), and maintaining a balance between growth and inflation both in the short and long term.

He called for reasonable and flexible management of exchange and interest rates; stable, transparent foreign exchange and gold markets; and a focus of credit on production, business, and growth-driving sectors.

Priority credit packages should be maintained for social housing, strategic infrastructure, and flood recovery, while closely monitoring real estate and other high-risk sectors to avoid systemic risks.

In parallel with the prompt and effective implementation of recent Politburo resolutions, the Prime Minister instructed to finalise and submit new ones on the state economy, FDI, and culture.

He also stressed the need to effectively implement the two-tier local government model, by reviewing functions, structures, and staffing; ensuring capable personnel; and enhancing data connectivity, decentralization, and delegation.

The Government leader directed ministries and localities to focus on disaster response and post-flood recovery, including search and rescue, medical treatment, repair of damaged homes, temporary shelter support, restoration of essential infrastructure, and provision of financial and material assistance to affected areas.

He also emphasised the importance of cultural and social development, social welfare, and improving living standards. Budgetary efforts should focus on boosting revenue and cutting unnecessary expenditures to create fiscal space for salary and allowance increases from early 2026. Nearly 100 new boarding and semi-boarding schools in border communes are to begin construction on November 9, alongside accelerated land clearance for social housing projects.

At the meeting, the Prime Minister underscored the need to enhance communication, especially policy communication, to spread positive examples and good practices.

“Unity creates strength, cooperation generates resources, and dialogue builds trust,” he reminded.

Measures to boost economic growth

To stimulate economic growth in the remaining two months of the year, Minister of Industry and Trade Nguyen Hong Dien stressed the need to develop the domestic market, stimulate consumption, support production enterprises, while also accelerating public investment and selecting investors for projects in the energy and mineral sectors.

He said that export promotion remains one of the most important drivers with significant potential. The Ministry of Industry and Trade, he said, has been making efforts to open and diversify export and import markets, ensuring compliance with rules of origin in ongoing trade negotiations.

The ministry is also working to expand into new potential markets in South Asia and West Asia, re-engage with Eastern Europe and South America, and support Vietnamese enterprises in handling trade defence cases to facilitate the smooth flow of goods across global markets.

Meanwhile, Minister of Agriculture and Environment Tran Duc Thang reported that since the beginning of the year, storms and floods have left 305 people dead and 205 missing, causing economic losses of about VND68 trillion. The agriculture sector recorded 3.83% growth in the first nine months, but the growth slowed to 3.74% in the third quarter due to disaster impacts.

He said the ministry is focusing on timely preparation and distribution of seeds and materials for agricultural recovery. Regarding efforts to combat illegal, unreported, and unregulated (IUU) fishing, the Minister announced that a European Commission (EC) inspection team is scheduled to visit Vietnam on November 24.

“The most crucial task in addressing the IUU yellow card at this stage is for relevant authorities, particularly border guards and fisheries inspectors, to strengthen maritime control and prevent fishing vessels from operating in foreign waters. This is the top priority,” said the minister.