The State Bank of Vietnam published the full text of Communist Party General Secretary To Lam’s opening speech to the 13th meeting of the 13th Central Committee, which framed preparations for the 14th Party Congress and set out macroeconomic priorities for 2025–26. The address highlighted near-term growth and inflation objectives and emphasised maintaining macro stability through flexible, closely coordinated fiscal and monetary policy. The speech reported GDP growth of 8.22% in the third quarter of 2025 and 7.84% over the first nine months, with a 2025 full-year growth forecast of 8.1% to 8.5%. It cited nine-month budget revenue of nearly VND 2 quadrillion (97.9% of the estimate) and a trade surplus of nearly USD 17 billion, and set 2026 objectives of economic growth above 10%, GDP per capita of USD 5,400 to USD 5,500, and CPI inflation of around 4.5%. Six discussion priorities were flagged, including strengthening the three growth drivers (investment, consumption and exports), accelerating digital and green transition, boosting productivity and standards, and developing capital, labour, science and technology, and real estate markets “safe, transparent and effective”, alongside implementing the programme for 11 strategic technologies referenced in Resolution 57. For Party Congress preparations, the speech outlined ongoing personnel processes for the 14th Central Committee and the 14th Central Inspection Commission, and noted that draft Congress documents incorporate seven recently issued Politburo strategic resolutions and contain 17 new points. The meeting agenda included taking Central Committee opinions and votes on personnel introductions and further refining the draft documents and the associated action programme into measurable tasks and timelines.
State Bank of Vietnam 2025-10-06
State Bank of Vietnam posts General Secretary To Lam speech setting a 2026 growth target above 10% and calling for coordinated fiscal and monetary policy
The State Bank of Vietnam released Communist Party General Secretary To Lam’s speech at the 13th Central Committee meeting, outlining macroeconomic priorities for 2025–26 and preparations for the 14th Party Congress. The address reported Q3 GDP growth of 8.22% and set 2026 objectives, including over 10% economic growth and CPI inflation around 4.5%. Key priorities include strengthening growth drivers, accelerating digital and green transitions, and developing safe, transparent markets.