Macroeconomic stability – the request for Vietnam’s 10% GDP growth

THE HANOI TIMES — The 13th plenum of the 13th Central Committee of the Communist Party of Vietnam (CPV) opened in Hanoi today [October 6], with maintaining macroeconomic stability to boost market confidence set as a key goal.

Party General Secretary To Lam said Vietnam must keep fiscal and monetary policies flexible and well-coordinated to ensure sustainable development, aiming to achieve more than 10% GDP growth in the next tenure starting in 2026.

The four-day plenum, from October 5 to 8, will focus on six key priorities, including reinforcing market confidence, promoting investment, consumption and exports, and expanding growth space through regional connectivity and urbanization.

Delegates are also discussing accelerating digital and green transformation, turning data into a resource and the digital economy into a growth engine, and raising productivity and standards through science, technology and innovation.

Other focal points include promoting the three growth drivers, namely investment, consumption and exports, while unlocking new growth space through regional connectivity and high-quality urbanization.

It also requires accelerating digital and green transformation, turning data into a resource and the digital economy into a growth engine, in addition to enhancing productivity, quality and standards through science, technology and innovation.

Another issue of discussions includes developing transparent and efficient markets for capital, labor, science–technology and real estate while implementing 11 strategic technologies outlined in Resolution 57 to strengthen national scientific and technological autonomy.

In his speech, the Party chief highlighted that 2026, the first year of the new term, will be pivotal for implementing the 14th National Party Congress’s Resolution. Vietnam’s targets are highly ambitious, with GDP growth above 10%, per capita income reaching US$5,400–US$5,500 and CPI increasing by around 4.5%.

He said that the targets are both mandatory and challenging, requiring strong policy coordination to ensure economic independence and resilience. The overall approach must reflect the motto: “Stability, discipline, acceleration, breakthrough and sustainability.”

Reports presented at the conference highlighted  Vietnam’s economy remained resilient despite global uncertainties, with Q3 GDP up 8.22% and nine-month growth at 7.84%.

Budget revenue reached nearly VND2 quadrillion (US$79 billion), equivalent to 97.9% of the annual estimate, while trade surplus approached $17 billion.

All 15 major socio-economic targets are expected to be met or exceeded, with full-year GDP growth projected between 8.1% and 8.5%.

Decisive factors for selecting high-profile officials

Beyond the economy, the plenum also discussed key preparations for the 14th National Party Congress, including personnel planning and the drafting of major political documents.

Regarding personnel for the 14th-tenure leadership, Lam said that virtue, competence and integrity will be decisive in selecting high-level officials, warning that opportunists or power-seekers “must never be allowed” into the Central Committee.

He called on personnel selection the “core of the core,” stressing that candidates must put national and Party interests first while ensuring balance between standards and structure, continuity and innovation and virtue and talent.

The 14th National Congress documents include 17 major updates, including a new growth model driven by science, technology, innovation and digital transformation.

The event took place amid renewed national confidence following the 80th anniversary of the August Revolution (August 19) and National Day (September 2). Socio-economic indicators improved across sectors compared to 2024, the two-tier local governance model operated smoothly, while public services became more citizen- and business-oriented.

Regional and spatial planning has become more interconnected, unlocking new competitive advantages. Seven strategic Politburo resolutions adopted over the past year have paved the way for steady progress toward the Party’s dual centenary goals, which focus on peace, stability, rapid and sustainable growth to improve living standards.

“Our Party has firmly steered the ship through turbulent waters, resolutely moving forward to achieve the goals set by the 13th National Party Congress and other strategic resolutions,” General Secretary To Lam affirmed.