- 14 of 15 socio–economic indicators could achieve or exceed the 2024 economic plan (vs 10 out of 15 in 2023). In a report submitted to the National Assembly, the Government estimates that GDP growth in 2024 could reach 6.8%-7.0%, which is higher than the plan of 6.0%-6.5% set at the beginning of the year due to upbeat growth in 9M 2024 (+6.8% YoY) and a positive outlook for Q4 2024. Average CPI is also estimated to stay below 4.5% (9M 2024: 3.9% YoY). Notably, the labor productivity growth target could be reached in 2024, following three years in which the target was not achieved. In contrast, GDP per capita is the only indicator that might not meet the target unless GDP growth in 2024 surpasses 7.0%. The Government estimates GDP per capita at USD4,647 in 2024 vs the target of USD4,700–4,730.

- The Government set a higher target for GDP growth in 2025. The Government set its plan for GDP growth for 2025 at 6.5%-7.0%, higher than 2024’s plan. Additionally, the Government aims to achieve GDP growth that surpasses the plan at 7.0-7.5% in 2025, in order to rank 31st-33rd globally in terms of GDP by the end of 2025.

- Several socio-economic metrics for 2021–2025 could miss the planned targets. According to Resolution 16/2021/QH15, dated July 27, 2021, average GDP growth for 2021–2025 was planned at 6.5%-7.0%. However, the Government estimates that even if growth could reach 7.0%-7.5% in 2025, the average GDP growth for 2021–2025 will only reach 5.9%-6.1%. Similarly, several other important socio-economic targets could miss the 2021–2025 plan’s targets, including the proportion of the processing and manufacturing industry in GDP (estimated at 24.5% vs the target of over 25%), average growth rate of labor productivity (estimated at 4.8% vs the target of over 6.5%), and contribution of total factor productivity (TFP) to growth (estimated at 42% vs the target of over 45%).

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