Double-digit growth: Focusing on 5 key solutions

While the goal of achieving double-digit economic growth in 2026 presents many opportunities, it also faces numerous challenges. Therefore, to achieve this goal, Viet Nam needs to implement five key solutions.

Aiming for double-digit growth

The government has issued Resolution No. 01/NQ-CP on the main tasks and solutions for implementing the socio -economic development plan and state budget estimates for 2026. Unlike Resolution 01/2025/NQ-CP with three growth scenarios, this year's Resolution 01/NQ-CP has only one scenario: striving for GDP growth of over 10%. According to economic experts, this change reflects the government's determination to achieve double-digit growth in 2026.

Specifically, GDP growth in Q1/2026 is projected at 9.1%; Q2/2026 at 10.2%; Q3/2026 at 10.2%; and Q4/2026 at 10.4%. The specific scenario for all three economic sectors in 2026 includes: agriculture, forestry, and fisheries at 3.7%; industry and construction at 12%; and services at 11%.

To achieve a growth target of 10% or more in 2026, in Resolution 01/2026/NQ-CP, the Government also assigned specific tasks to ministries and sectors in implementing a group of tasks related to promoting growth, maintaining macroeconomic stability, controlling inflation, ensuring major balances, and restructuring the economy.

Specifically, the Ministry of Industry and Trade is tasked with amending the Petroleum Law; developing outlet models (a form of retail business for genuine products) in Viet Nam for the period 2026-2030, with a vision to 2045; developing the derivatives trading market in Viet Nam for the period 2026-2030, with a vision to 2045; implementing the Action Program for the ASEAN Economic Community Strategic Plan in Viet Nam for the periods 2026-2030 and 2031-2035; and drafting a Decree detailing the implementation of several articles of the Law on E-commerce…

Furthermore, Resolution 01/2026 also assigns specific GRDP growth targets to localities. Accordingly, Hanoi must achieve a GRDP growth of 10-10.5%; Hai Phong City 13-13.5%; Ninh Binh and Hung Yen 11-12%; Bac Ninh 12.5-13%; Quang Ninh 13%…

Determined to achieve a growth target of over 10% in 2026, the Government also requested all levels, sectors, and localities to focus on directing and managing the implementation of the national GDP growth target for 2026, striving for 10% or more while maintaining macroeconomic stability, controlling inflation, and ensuring major balances. This includes promoting unity, continuous innovation, bold thinking and action, self-confidence, self-reliance, and decisive action under the theme "Discipline and responsibility; proactive and effective; innovation; accelerated breakthroughs; sustainable growth".

5 solutions to achieve growth targets

Commenting on the target of double-digit growth in 2026, Ms. Nguyen Thi Huong, Director of the General Statistics Office (Ministry of Finance), stated that the positive growth result (8.02%) in 2025 is an important foundation for Viet Nam to achieve the growth target in 2026. However, entering 2026 and the new period of 2026-2030, the domestic economy faces many uncertain challenges with intertwined opportunities. Accordingly, maintaining and achieving high economic growth targets in the following years requires extraordinary efforts from the entire economy, and simultaneously necessitates the convergence of many important conditions, including macroeconomic foundations, growth resources, development quality, and policy management capacity.

Based on that, Ms. Nguyen Thi Huong suggested that to achieve Viet Nam's growth targets, it needs to focus on five key tasks. Firstly , maintaining macroeconomic stability is a prerequisite. Along with that, priority should be given to controlling inflation, ensuring public debt safety, maintaining major economic balances, and managing fiscal and monetary policies in a flexible and prudent manner. This will contribute to creating a favorable environment for investment, production, and business activities, increasing the resilience of the economy, and thereby supporting sustainable economic growth.

Secondly , mobilizing and effectively utilizing resources for growth plays a crucial role. Public investment needs to continue playing a leading role, focusing on key infrastructure sectors, strengthening the timely disbursement of public investment capital, especially for national key projects, improving the efficiency of capital allocation, and avoiding scattered and wasteful investments. At the same time, it is necessary to create favorable conditions for the private investment sector to develop and become an important driving force for growth. Attracting FDI should be done selectively, linked to technology transfer, environmental protection, and strengthening linkages with the domestic economy.

Thirdly , improve the quality and efficiency of growth. Economic growth needs to gradually shift from a model heavily reliant on capital and labor to one based on increased productivity, efficient resource allocation, and structural economic transformation towards a modern and sustainable direction.

Fourth , create breakthroughs in labor productivity and improve the efficiency of investment capital utilization by promoting the application of science and technology and digital transformation, especially in high-tech industries and sectors, thereby increasing added value and improving the quality of growth; strengthen training linked to market needs, especially in the private sector and high-value industries, to create a foundation for sustainable growth.

Fifth , perfecting institutions and enhancing the effectiveness and efficiency of state administration. "Continuing to perfect the market economy institutions, ensuring transparency, stability, and consistency of policies, along with close coordination between macroeconomic policies, will create a foundation for growth drivers to be effective," a representative from the General Statistics Office stated.

Source: Industry and Trade Review