20.10.202506:41:21UTC+00Vietnam Plans for 10% GDP Growth in 2026

Vietnamese Prime Minister Pham Minh Chinh announced on Monday the ambitious goal of achieving a GDP growth rate of at least 10% by 2026, highlighting the economy's resilience in the face of external challenges. He projected an economic growth rate of 8% for 2025 with an inflation rate anticipated to stay below 4%, outperforming the official target range of 4.5–5%. "The Vietnamese economy has demonstrated remarkable strength in enduring external shocks, remaining one of the fastest-growing economies worldwide," Chinh stated in his address to parliament. For the first nine months, GDP grew by 7.85%, and the World Bank and IMF project growth rates of 6.6% and 6.5%, respectively, for the year. Despite a 20% U.S. tariff affecting exports, Vietnam's trade in goods is projected to hit USD 900 billion by 2025. Chinh acknowledged that the country's growth still depends heavily on inexpensive labor and resources instead of on technology, innovation, and digital transformation. He reaffirmed the government's commitment to establishing new free trade agreements with countries in the Middle East, Latin America, and Africa to diversify export markets.