Vietnam Sets 10%+ Growth Target from 2026 Onwards

Economic Diplomacy Shifts Gear: Vietnam Targets “Double-Digit” Growth from 2026

Prime Minister Pham Minh Chinh assessed that economic diplomacy has shifted its state, expanded markets, improved quality, and created a foundation for new growth.

On the evening of January 10, the Prime Minister presided over an online conference with Ambassadors and Heads of Vietnamese Representative Agencies abroad to summarize economic diplomacy work in 2025 and deploy tasks for 2026.

The “Double-Digit” Mandate Concluding the conference, Prime Minister Pham Minh Chinh assessed that economic diplomacy has achieved important results, characterized by a “paradigm shift” and “turning the tide,” summarized by the motto: “Proactive & Positive – Expanded Markets – Improved Quality – Clear Efficiency – Economic Growth – People’s Benefit.”

Analyzing specific figures and lessons learned, the Prime Minister declared a bold target: “From 2026 onwards, our country must achieve a double-digit growth target. Therefore, all levels, sectors, localities, and economic fields must grow by double digits.”

With the guiding principle of “Solidarity for strength, cooperation for mutual benefit, dialogue to enhance trust,” the PM directed ministries, sectors, and representative agencies to decisively implement the Party and State’s policies, especially the upcoming Resolution of the 14th Party Congress.

Prioritizing Strategic Breakthroughs The PM emphasized prioritizing breakthroughs in international cooperation regarding:

• Science & Technology, Innovation: Cloud computing, AI, semiconductors.
• Green & Digital Transition: Developing sustainable energy and smart cities.
• Global Value Chains: Attracting large technology corporations and Vietnamese scientists abroad.

Market Diversification Agencies must renew traditional growth drivers while diversifying markets and supply chains.

• New Potential Markets: Middle East, Africa, South America.
• FTA Expansion: Bangladesh, Pakistan, Nigeria.
• Mercosur: Accelerate the signing of an FTA.

Specific Assignments for Ambassadors The Prime Minister assigned specific, high-priority tasks to key Ambassadors:

• Ambassador to the United States: Work with the US side to request early recognition of Vietnam’s Market Economy status and remove Vietnam from the list of countries restricted from high-tech exports (D1, D3 lists).
• Ambassador to China: Promote railway connectivity projects between the two countries.
• Ambassador to Russia: Promote cooperation in building the Ninh Thuan Nuclear Power Plant.
• Ambassador to Belgium/EU/ASEAN: Continue pushing the European Commission (EC) and regional countries to cooperate in combating IUU fishing, protecting the nation’s prestige and sustainable fisheries development.

“Go Global” Program To support businesses reaching international markets, the Prime Minister directed the Ministry of Industry and Trade (MOIT) to:

• Finalize the “Go Global” Program: Support Vietnamese enterprises in expanding globally.
• Trade Promotion: Promote Vietnamese products and brands abroad.
• Infrastructure: Support the effective operation of the International Financial Center and Free Trade Zones.

Conclusion The Prime Minister emphasized the spirit of “Discipline, Responsibility – Accelerated Innovation – Sustainable Efficiency.”

“Once the Party has directed, the Government is unified, the National Assembly agrees, the People support, friends assist, and the Fatherland expects, then we only discuss doing, not backing down.”

He mandated the “6 Clears” principle: Clear person, clear task, clear responsibility, clear authority, clear timeline, and clear result.