Addressing the National Assembly in Hanoi on Saturday, Hung presented the government’s economic objectives for next year, including inflation of approximately 4.5%, gross domestic product per capita of $6,100 and labour productivity growth of 8.6%.
The proposed targets form part of 45 socioeconomic indicators submitted to lawmakers as the government seeks to sustain rapid expansion while addressing structural weaknesses, administrative bottlenecks and pressures on public finances.
Hung said achieving double-digit growth would require stronger coordination between fiscal and monetary policies, more effective mobilisation of investment resources and substantial improvements in the business environment.
The government intends to make science, technology, innovation and digital transformation central drivers of economic expansion, alongside institutional reforms designed to improve productivity and encourage private investment.
The announcement follows an earlier parliamentary resolution establishing average annual GDP growth of at least 10% as the national objective for 2026-2030. The 2027 proposal translates that broader ambition into specific annual targets and policy priorities.
Vietnam’s economy expanded by an estimated 9.01% during the first nine months of 2026, according to figures cited in a government resolution issued this month. The performance provides a foundation for next year’s target but also underlines the additional acceleration required.
The government has identified infrastructure development, industrial modernisation and improvements in investment procedures as essential to sustaining expansion. Hung emphasised that economic growth must be accompanied by inflation control and stability in the country’s principal financial balances.
Authorities plan to accelerate public investment disbursement, particularly for strategic infrastructure projects, while addressing delays in project approvals and implementation. Greater efficiency in allocating public resources is expected to support the government’s development priorities.
Private enterprise is also expected to assume a larger role. The administration wants to remove regulatory obstacles, improve access to productive resources and create more favourable conditions for businesses operating across different sectors.
The policy programme places considerable emphasis on improving the quality of growth rather than relying exclusively on expanding investment. Productivity gains are expected to become increasingly important as Vietnam pursues higher economic output and stronger competitiveness.
Hung’s presentation identified institutional reform as a central requirement for implementing the government’s objectives. Ministries and provincial administrations will be expected to translate national targets into specific responsibilities, implementation schedules and measurable outcomes.
The government also intends to strengthen coordination across administrative levels, improve public-sector accountability and address persistent obstacles affecting investment and business operations.
Maintaining price stability represents another important element of the programme. The proposed consumer price inflation target of approximately 4.5% reflects the administration’s intention to balance expansionary economic measures against the need to protect purchasing power.
Fiscal policy will consequently face competing demands from infrastructure investment, public services and social welfare commitments. Monetary authorities will also need to support productive activity without undermining financial stability.
The government’s economic programme includes measures to strengthen domestic production, improve supply chains and encourage technological adoption. These priorities are intended to support industrial competitiveness and reduce constraints on productivity.
Digital transformation features prominently in the development strategy, with authorities seeking broader application of technology across public administration and economic activity. The approach links improvements in government efficiency with efforts to modernise businesses.
The prime minister also stressed the importance of mobilising resources more effectively, including investment capital, land and other productive assets. Better allocation of these resources is expected to help overcome barriers to growth.
Social development remains part of the proposed framework. The government aims to reduce the multidimensional poverty rate by between one and 1.5 percentage points during 2027, while improving living standards and maintaining essential public services.
The targets were presented during the opening of the second session of the 16th National Assembly, which is examining the government’s assessment of economic performance in 2026 and its proposed development programme for the following year.
The broader policy framework also covers environmental protection, national security and international economic integration, alongside measures to strengthen the country’s administrative institutions.
A Communist Party Central Committee decision governing the 2027 budget framework calls for state budget revenue to increase by approximately 9.1% compared with the estimated 2026 outcome.
It also provides for savings of 5% from public investment allocations and 10% from specified recurrent expenditure categories, directing additional resources towards priority projects and social welfare programmes.
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