Vietnam Seeks Momentum for Sustained Double-Digit Growth

Vietnam is pushing forward with efforts to enhance public investment disbursement and reform its financial market structure in a bid to achieve sustained double-digit economic growth. The total planned public investment capital for 2026 has reached an all-time high, with disbursement in the first six months of this year increasing by VND38.4 trillion (US$13.52 billion) compared to the same period in 2025. However, the disbursement rate, equivalent to 35.5% of the total plan, suggests there is still room for improvement. The Prime Minister recently held a working session with the Standing Board of the Tuyen Quang Party Committee to discuss socio-economic development, the double-digit growth target, public investment disbursement, the operation of the two-tier local government model, the implementation of Politburo Resolution No. 57, and measures to address local challenges. Enhancing transparency in the business environment, improving access to land and capital, and ensuring a stable and predictable business environment are key to translating reform policies into tangible projects and job creation. To strengthen the foundation for economic growth, Vietnam is advancing its financial market reform strategy in line with its high growth target by 2045. This strategy, approved under Decision 1413/QD-TTg, envisions a more balanced financial market structure with stronger links between its banking, capital, and insurance sectors, in line with the country’s target of high growth by 2045. The plan seeks to develop a balanced and modern financial market that is closely integrated with regional and global markets, strengthens the mobilization and allocation of domestic and foreign capital, and enhances the market’s role as a key provider of medium- and long-term capital for the economy and as a major driver of sustained high economic growth. Meanwhile, Vietnam has committed to achieving carbon neutrality by 2050 at the 26th United Nations Climate Change Conference (COP26), with hydrogen – particularly green hydrogen – seen as a strategic solution for decarbonizing sectors that are difficult to electrify, including heavy industry, long-distance transport, shipping, and aviation. The recycled paper supply chain, unlike many manufacturing industries that rely on concentrated sources of raw materials, depends on a fragmented network of individual collectors, collection points, baling stations, traders, and recycling mills. TikTok Vietnam, a popular short-video platform, has joined hands with the Central Coordination Office of the National Target Programme and the Centre for Agricultural Trade and Environmental Promotion to enhance the rural economy through e-commerce. In its external relations, China has become the main growth engine for Vietnam's shrimp exports, offsetting weaker sales to the US as exporters navigate trade uncertainty, high shipping costs, and tougher market requirements. Vietnam consistently attaches importance to the conservation and sustainable use of aquatic resources, the fulfilment of international obligations, and the promotion of regional and international cooperation in accordance with international law, particularly the 1982 United Nations Convention on the Law of the Sea (UNCLOS). In terms of infrastructure development, the World Bank has proposed a lending portfolio of approximately 24 projects with an estimated total value of US$9.3 billion, mainly covering transport, energy, climate-resilient infrastructure, and budget support. Phu Quoc Airport is preparing for round-the-clock operations to accommodate rising passenger numbers and flight frequencies as it gears up for the year-end tourism peak and the APEC Economic Leaders' Week in 2027. At the local level, Bac Ninh province has set a 2030 goal for all State-owned enterprises to adopt modern, digital corporate governance as part of a sweeping restructuring to boost efficiency and transparency. Under the province's master plan for 2021–2030 with a vision to 2050, An Giang will prioritize investment in five strategic sectors: strategic infrastructure; processing industries and clean energy; trade, services, logistics and border-gate economy; high-quality tourism; and high-tech agriculture, ecological development and the circular economy. Da Nang City is expanding exhibition spaces to connect high-quality local products with consumers, particularly tourists, while enhancing brand recognition and promoting the city’s image. Source: VietnamPlus English