Vietnam targets two-digit GDP growth and a place among the world's top 30 economies by 2030

Two-digit GDP growth ambition and Vietnam's new position On 2 April 2026, the General Secretary and President of Vietnam, To Lâm, signed Conclusion 18-KL/TW on the Plan for Socio-Economic Development, State Finances, national debt repayment and medium-term public investment for the 2026–2030 period, linked to the target of two-digit growth. This is a strategic document that operationalizes the XIVth Party Congress resolution with high resolve, reflecting an innovative mindset and decisive action to realize the country’s development aspirations in the new period. Core objectives and a host of specific criteria During 2021-2025, despite many difficulties and challenges, the country achieved important, comprehensive and breakthrough results. Average GDP growth reached 6.2% per year, with 2025 at 8.02%. GDP per capita reached USD 5,026, officially joining the group of upper-middle income economies. Major macroeconomic balances were maintained; inflation, budget deficit and public debt were well controlled. Many projects remained backloged, enterprises suffered long-running losses, and weak credit institutions were addressed with results; the infrastructure system was accelerated; the organizational apparatus was streamlined and efficient. Conclusion No. 18-KL/TW: From aspiration to action toward two-digit growth The Second Plenum of the XIVth Party Central Committee established for the first time the target of two-digit growth as a guiding objective for 2026–2030. Not only does this reflect a strong development aspiration and elevated national standing, it also shows high political will and a practical, scientific approach to implementation. Vietnam Economy/VnEconomy presents two articles to help explain the Party’s thinking and decisive actions in the new development stage as reflected in Conclusion No. 18-KL/TW. [Article 1] Two-digit growth aspiration and Vietnam's new position [Article 2] Key solutions to implement two-digit GDP growth However, Conclusion No. 18-KL/TW also candidly points out limitations: macroeconomic foundations are not yet truly solid; productivity, quality, efficiency and competitiveness are not high; science, technology, innovation and digital transformation contribute only modestly; institutional and policy frameworks still have bottlenecks; some segments of the population remain in hardship. In that context, the Party’s Central Committee strongly agreed on the target: strive for average GDP growth of 10% per year during 2026–2030, while maintaining macroeconomic stability, controlling inflation and ensuring major economic balances. By 2030, GDP per capita should reach USD 8,500; Vietnam becomes a developing country with modern industry, upper-middle income, and among the world’s top 30 economies by GDP. This target is materialized through a series of important indicators: the share of the processing and manufacturing sector at 28% of GDP; the digital economy at 30% of GDP; the green economy at 10% of GDP; labor productivity growth at 8.5% per year; contributions of TFP to growth above 55%; ICOR reduced to 4.5–4.8; completion of 1,655 km of expressways in this period (by 2030 more than 5,000 km in use). Compared with the previous period, this represents a leap in growth requirements and clearly shows the Party’s ambition and resolve to break through in the new development stage. Four guiding breakthrough viewpoints To realize the goal of two-digit growth, Conclusion 18-KL/TW lays out four consistent guiding principles, foundational and breakthrough, under a unifying thread: ensuring the Party’s leadership; resolute action; institutional breakthroughs; financial safety, focusing on investment efficiency: 1) Leadership and the strength of unity: Ensure comprehensive leadership by the Party; promote the development role of the State; strengthen social supervision and critique; mobilize participation from the entire political system, the business community and the people. [Illustration image] 2) Resolve and action: Remain steadfast to the target, act decisively and flexibly, with focus; assess conditions to overcome immediate difficulties and create mid-term breakthroughs. 3) Institutional framework and unleashing resources: Accelerate building and improving a coherent development institutions framework; promptly remove bottlenecks; unleash all resources; push decentralization and delegation tied to administrative reforms and enhanced implementation capacity. 4) Financial safety and investment efficiency: Ensure sustainable balancing and national financial safety; tighten debt management; raise efficiency of public investment with a focused, targeted approach and broad spillovers. These four viewpoints show a significant shift in development thinking: not only aiming for high growth, but also directly addressing the economy’s biggest bottlenecks. It emphasizes rapid growth together with macro stability, development alongside social welfare, defense, security and environmental protection. Conclusion No. 18-KL/TW not only defines the target of two-digit growth for 2026–2030, but also clearly demonstrates the Party’s development thinking, innovation and political will to move the country into a new development stage. The challenge is not only to reach the target but to realize it with strong, coherent and effective solutions. Two resolutions “open the path” to decentralization and delegation in life 15:13, 23/03/2026 [Two resolutions opening the path to decentralization and delegation in life] (End of excerpt)