HANOI (Reuters) – Vietnam will officially revise up its gross domestic product growth target for 2025 to 8.0% from 6.5%-7.0%, Minister of Planning and Investment Nguyen Chi Dung said on Wednesday.
Imports and exports are both expected to grow 12% this year, Dung said in parliament, adding that the trade surplus is estimated at $30 billion.
The Southeast Asian country, a regional manufacturing hub, reported a GDP growth of 7.09% last year, making it one of the fastest-growing economies in Asia.
Dung said industrial manufacturing and foreign investment would lead this year’s economic growth.
Foreign investment inflows are expected to be $28 billion, while domestic retail sales are expected to rise 12%, he said.
“However, we are still facing challenges this year, and we will also prioritise keeping inflation under control and ensuring macro stability,” Dung said.
He said inflation is expected to be 4.5%-5.0% this year.
The revised GDP growth target is subject to approval from the parliament.
(Reporting by Khanh Vu; Editing by John Mair)
