Prime Minister Le Minh Hung: steadfast macroeconomic stability and no tolerance for overheating growth

On the morning of April 10, the National Assembly continued discussions on key matters, including the assessment of the results of implementing the socioeconomic development plan and the state budget for 2025; progress of plans for the early months of 2026; the mid-term public investment plan for 2026–2030; and the five-year national financial plan and the debt borrowing and repayment plan for 2026–2030.

In a group discussion, Prime Minister Le Minh Hung said cabinet members listened carefully to the opinions of National Assembly deputies. He noted that deputies studied government reports as well as parliamentary committee review reports, contributing many thoughtful, responsible, and committed ideas. The deputies’ views, he said, reflected voters’ aspirations and provided a multidimensional picture of economic and social issues.

Broad agreement on growth target

There was broad agreement on the two-digit growth target. A key issue raised by many deputies was the need to modernize the reporting approach toward simplification and integration.

Proposal for a single integrated socioeconomic report

The Prime Minister proposed replacing separate sectoral reports with a single integrated socioeconomic report. He said detailed data on revenue and expenditure, capital allocation for public investment, and borrowing and debt could be presented as appendices. He argued that this would save time for deputies, facilitate information access, and provide a more comprehensive view of the country’s development.

He also said the reform of reporting methods aligns with ongoing reforms of state institutions and operations.

Supplementary government reports submitted to Parliament

At the session, the government submitted supplementary reports to Parliament covering the 2025 results of socioeconomic development, progress on the 2026 plan, and mid-term plans for 2026–2030 on economic and social development, public investment, national finances, and debt borrowing and repayment. The Prime Minister said the reports received broad support from deputies.

Building on that, he clarified key points, especially the two-digit growth target for the next period. He referenced the Standing Committee of the Party’s Conclusion No. 18, which identifies major tasks and solutions to achieve high growth. Parliament is discussing a resolution to entrust the government with implementation.

Three breakthroughs and macro stability focus

Despite significant challenges, the Prime Minister said there is a practical basis for achieving the target, supported by strong consensus on thinking and action. The government outlined three breakthroughs aligned with macro stability objectives: institutional reform; infrastructure development; and improving the quality of the workforce, linked to training, science, technology, innovation, and digital transformation.

Investment targets to support two-digit growth

To reach the two-digit growth target, the Prime Minister said total social investment should reach about 40% of GDP in the next term, with public investment at about 20%, and the remainder mobilized from the private sector and foreign capital. He said this requires a transparent, stable legal framework and a favorable investment environment.

He emphasized that all growth targets must be based on macroeconomic stability, with active and flexible macro coordination across fiscal, monetary, and other macro policies.

2026 as a pivotal implementation year

The Prime Minister said 2026 is a pivotal year for implementing mid-term plans. He added that the government will continue to listen to deputies’ feedback to refine operational plans and ensure sustainable development in the period ahead.