General Secretary of the Communist Party of Vietnam and President To Lam signed the conclusion of the fourth conference of the 14th Party Central Committee on socio-economic development, implementation of the 2026 state budget and the 2027 plan. The document is Conclusion No. 106-KL/TW dated October 15.
Under the conclusion, Vietnam aims for GDP growth of at least 10% in 2027 while maintaining macroeconomic stability, controlling inflation and ensuring major economic balances.
To mobilize resources for growth, the authorities called for state budget revenue to rise by about 9.1% from the 2026 outturn and for spending to be saved, especially recurrent spending. Capital sources are to be diversified through government, local and corporate bonds, project bonds, ODA loans, credit and increased investment by state-owned enterprises.
The investment and business environment must be favorable and transparent to attract private capital. Foreign-invested companies are encouraged to reinvest in Vietnam funds and profits that have not yet been transferred abroad.
The authorities also called for the development of a modern medium- and long-term capital market, attraction of international investment funds and stable long-term foreign portfolio investment flows, and efforts to raise the country's sovereign credit rating.
Interest rates and the exchange rate will be managed in line with domestic and international conditions. The authorities called for lower lending rates, credit directed toward production, business and priority sectors, and tighter control of lending to potentially risky areas.
Fiscal and budget discipline is to be strengthened by expanding the revenue base, combating revenue losses and transfer pricing, and simplifying investment procedures. Public investment disbursement must be tied to project efficiency and results, with funds moved from projects with low disbursement to those using capital more effectively.
The domestic market will be supported through demand stimulation, modern trade and the night-time economy. Vietnam also plans to diversify export and import markets, increase added value, reduce dependence on a small number of markets and address the trade deficit. The property market is expected to develop in a healthy, safe and sustainable manner, while long-delayed projects must be resolved.
The authorities called for continued improvements to institutions and laws and more effective implementation. Conflicting and overlapping regulations must be dealt with, with no delays in issuing detailed regulations. Administrative procedures and business conditions will also be cut and simplified to reduce costs for people and companies.
The economy is to be restructured to increase its internal capacity, independence and resilience. Vietnam will develop a domestic industrial ecosystem, prioritizing foundational and supporting industries, restructure agriculture around value chains, and develop modern services, logistics and e-commerce.
The private sector, especially small and medium-sized enterprises, will continue to receive support. The authorities will help household businesses become companies and develop large private enterprises. State-owned enterprises will be restructured, while equitization and divestment will continue. Foreign investment will be selected with technology transfer in mind. The banking system is to be modernized, with a focus on bad debt, weak credit institutions and preventing cross-ownership.
For infrastructure, the authorities called for completion of the North-South expressway network, east-west and coastal roads, and ring roads connecting regions. Vietnam plans to develop gateway seaports, international transshipment ports and major railway projects. Work on Long Thanh and Gia Binh international airports, as well as power generation and transmission projects, is to be accelerated to ensure energy security.
Science, technology, innovation and digital transformation are to focus more strongly on producing specific products, results and value. Digital and data infrastructure will be developed, the National Data Center will operate effectively and 5G will cover the country. Vietnam will also prepare for 6G, develop low-Earth-orbit satellite internet and build subsea fiber-optic cable routes.
In education, healthcare and social security, the authorities called for better training quality and human-resource development, action to address shortages of schools, classrooms and teachers, and wider digital and STEM/STEAM education. Healthcare is to shift toward proactive disease prevention and strengthen primary and preventive care. Construction of social housing, rental housing and workers' housing is to be accelerated, with more than 176,000 apartments targeted for completion in 2027.
Vietnam will also strengthen resource management and environmental protection, develop a green and circular economy and operate the carbon market effectively. The country also plans to reinforce defense and security, maintain public order, deepen foreign relations and international integration, and work to successfully host APEC 2027.
Sources: Dân Trí
