Prime Minister Le Minh Hung: Align thinking and actions to achieve a two-digit growth target

On the afternoon of April 9, continuing the first session of the current session, Prime Minister Le Minh Hung reported to the National Assembly on key contents related to the assessment of the results in implementing the Plan for socio-economic development (KT-XH), the State Budget (NSNN) in 2025, and the early months of 2026; as well as tasks and priority solutions for the remaining months of 2026.

2025 KT-XH results and early 2026 macroeconomic picture

Based on updated data for Q4 2025, the Prime Minister said the KT-XH development results in 2025 reported at the 10th session of the 15th National Assembly are basically appropriate, achieving and exceeding all 15 main KT-XH indicators, with some indicators performing even better.

For the early months of 2026, the Prime Minister said macroeconomics remained basically stable, inflation was under control, and major economic balances were safeguarded. GDP growth in Q1 2026 was estimated at 7.83%, with four localities growing above 10%. The average Consumer Price Index (CPI) rose by 3.51%.

State budget revenue for the first three months was about 829.4 trillion dong, up 11.4%. Foreign direct investment (FDI) increased, with actual FDI disbursed at 5.4 billion USD, up 9.1%. Total import-export turnover was about 249.5 billion USD, up 23%.

Challenges and external risks

The Prime Minister noted that the macroeconomy faces adverse external impacts, and that the target of two-digit growth is a very large challenge. Production and business activities in some sectors faced many difficulties.

He said traditional growth drivers have underperformed relative to potential; domestic purchasing power is weak; and exports remain heavily dependent on the FDI sector. New growth drivers are at an early stage and require time to mature. The real estate market is recovering slowly and carries risks.

Looking ahead, global and regional conditions are forecast to remain volatile, complex, and unpredictable, especially due to policy adjustments by many countries; escalations in armed conflicts; high oil prices; and a forecast of slow global economic growth, alongside volatility in financial and monetary markets.

Government direction for the remaining months of 2026

Domestically, the Prime Minister emphasized that difficulties and opportunities are interwoven, but challenges are more numerous. In this context, the Government and the Prime Minister will direct ministries, sectors, and localities to implement in a coordinated and effective manner the resolutions of the Party Congress, as well as the resolutions, conclusions, directives of the Central Committee of the Party, the Politburo, the Secretariat, and the National Assembly to achieve and exceed the year’s targets for 2026.

Priority solutions to pursue two-digit growth

Unify thinking and execution

The Prime Minister said there is a need to unify thinking, awareness, aspiration, and action to realize the goal of two-digit growth. The Government will require ministers and heads of sectors, and chairpersons of provincial People’s Committees, and will urge party secretaries and standing committees of provincial parties to focus leadership and decisively steer on the spirit of “Right choice – Fast implementation – Thorough execution – Measured by results,” with direct responsibility for outcomes.

Link growth with macroeconomic stability and mobilize resources

He said the Government will promote growth linked to macroeconomic stability and mobilize and use all resources efficiently for development. The Prime Minister stressed the need to secure national energy security in both the short and long term, especially ensuring supply of crude oil and gas.

Regarding mobilizing and efficiently using all resources for development, the Prime Minister said the Government regards this as a particularly important solution to achieve the two-digit growth target.

• Strive to raise state budget revenue by 10%.
• Save over 10%, and aim to save an additional over 5% of regular expenditures.
• Swiftly resolve bottlenecks hindering long-standing projects.

Accelerate investment and improve capital allocation

The Government will effectively harness growth drivers from investment, consumption, and exports. The Prime Minister said accelerating disbursement of public investment in line with project outcomes is important, with public investment leading overall investment.

In April 2026, ministries, agencies, and localities will complete guidelines for distributing capital to projects based on output results, tied to socio-economic accounting and evaluation of investment efficiency. The Government intends to raise development investment spending to 40% of total NSNN expenditure.

Restructure the economy and support domestic enterprises

The Government will push to reorganize sectors and fields and develop economic components and new economic models. It will create favorable conditions for domestic private enterprises to develop, especially small and medium-sized enterprises. It will promote the development of economic groups, corporations, and large enterprises; selectively attract FDI; and strengthen links between the FDI sector and the domestic economy.

Modernize the banking system and manage credit risk

The Prime Minister also stressed the need to modernize and restructure the banking system toward sustainability, addressing bad debts, weak banks, and cross-ownership. At the same time, the Government will raise the charter capital of state-owned banks; direct credit toward production and business with priority for sectors; and tightly control credit in high-risk areas.

Key tasks across sectors

The Prime Minister said the Government will focus on key tasks including breakthroughs in science, technology, innovation, and digital transformation; improving the institutional framework, reforming administrative procedures, and enhancing the investment climate; delivering clear improvements in education quality across all levels and attracting and retaining talent; developing a comprehensive and modern infrastructure system with enhanced oversight; continuing reform of state administration with increased decentralization and empowerment through resource allocation; and developing all-round cultural and social improvements to raise living standards and ensure social welfare.

He added that the Government will manage land and resources, protect the environment, strengthen national defense and security, maintain public order, actively participate in international cooperation and integration, and elevate the country’s role and status.