Vietnam Aims for 10 % Annual Growth Between 2026–30

Vietnam’s leadership has laid down a bold economic roadmap: the country now targets an annual growth rate of at least 10 % for the five-year period from 2026 to 2030. This objective represents a marked step-change from the growth of the previous five years, and is designed to place the country firmly on track toward upper-middle income status and beyond.

The new growth target is linked in official documents to the national development strategy for 2021-2030 and was reinforced in the directive issued by Phạm Minh Chính via Directive No. 14/CT-TTg on 28 May 2025, which urged all ministries and localities to “dare to think, dare to do… turn difficulties and challenges into breakthrough opportunities” in order to deliver “double-digit growth in the whole country in 2026”.

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A range of structural priorities underpin the target. The plan highlights industrialisation and modernisation, promotion of science and technology innovation, digital transformation, and infrastructure development (including expressways, seaports, airports, urban railways and preparation for nuclear power) as key growth levers.

Crucially, the private sector is identified as a “key growth pillar”, with emphasis placed on supporting regionally and globally competitive private groups, strengthening SMEs, and bolstering human resources to meet international standards.

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Despite the ambition, the target is not without sceptics. Analysts note that Vietnam has never yet sustained over 10 % growth, and the country now faces demographic headwinds, rising costs, global headwinds, and productivity constraints.

In sum, Vietnam is signalling a transition from high-single-digit growth toward a new era of double-digit expansion, grounded in structural reform, deeper investment, and more sophisticated growth drivers. Whether the target will be achieved remains to be seen—but the strategic intent is unequivocal.