Vietnam Targets 10% GDP Growth in 2026

Vietnamese Prime Minister Pham Minh Chinh said on Monday that the government will target record GDP growth of at least 10% in 2026, citing the economy’s resilience amid external shocks. He noted that 2025 growth is estimated at 8%, with inflation expected below 4%, under the official target of 4.5–5%. “The Vietnamese economy has proven to be strong enough to withstand external shocks, staying as one of the fastest-growing ones in the world,” Chinh told parliament. GDP expanded 7.85% in the first nine months, while the World Bank and IMF forecast 6.6% and 6.5% growth for the year, respectively. Vietnam’s goods trade is expected to reach USD 900 billion in 2025 despite a 20% U.S. tariff hitting exports. Chinh acknowledged growth still relies on cheap labor and resources rather than technology, innovation, and digital transformation. He reiterated plans to pursue new free trade deals with Middle Eastern, Latin American, and African countries to diversify export markets.