Vietnam’s prime minister targets 2027 GDP growth of at least 10%

Vietnam’s Prime Minister Le Minh Hung has announced the government's ambition to achieve a GDP growth rate of at least 10% in 2027. During his speech to parliament, Hung emphasized the importance of technology development and key projects in seaports, inland waterways, and railways. The government aims to maintain macroeconomic stability, keep inflation at around 4.5%, and implement measures to lower lending rates and direct credit towards production, business, and exports.

Despite global challenges, Vietnam has maintained rapid economic growth, largely thanks to its position in global supply chains. However, the central bank faces mounting pressure to maintain stable interest rates, while the economy is experiencing inflation above the government's target. Government officials estimate that hitting the 10% growth target will be difficult due to unstable growth foundations, high inflation, and increased capital and energy demands.

Vietnam is working towards a US trade deal to avoid tariff issues, and has pledged to purchase more American goods, aircraft, and liquefied natural gas. The government will also prioritize technology development and improve infrastructure in key sectors.