Resolution adjusting 2025 socio-economic development plan adopted

The 15th National Assembly (NA) on February 19 passed a resolution on supplements to the 2025 socio-economic development plan which sets a growth target of at least 8%, at its ninth extraordinary session.

Under the resolution, the legislative body decided to adjust some key targets. Accordingly, the gross domestic product (GDP) growth rate is set to reach 8% or higher, with the GDP scale this year expected to exceed 500 billion USD. The GDP per capita is projected to surpass 5,000 USD, and the average consumer price index (CPI) growth rate is targeted to be around 4.5 - 5%.

The NA agreed with the tasks and solutions proposed by the Government and relevant NA agencies, while urging the Government and related agencies to focus on implementing several key tasks and solutions.

It placed the top priority on perfecting the institutional and legal frameworks, as well as improving the effectiveness of law enforcement.

Resources should be focused on completing strategic infrastructure systems; clearing obstacles and effectively utilising public investment; reforming administrative procedures; improving the investment and business environment; and strengthening and renewing traditional growth drivers.

Furthermore, there should be a strong push to promote new growth drivers; develop new, advanced productive forces; and create breakthroughs in the development of science, technology, and digital transformation.

Also on the day, lawmakers voted to approve a resolution piloting several mechanisms and policies to remove barriers in science-technology research, innovation, and digital tranformation activities. The resolution comprises four chapters and 17 articles.