Vietnam raises GDP growth target to 8%

On February 21, according to foreign media reports, Vietnam approved raising the 2025 GDP rise target to more than 8% at the extraordinary National Assembly. Previously, it was set at 6.5~7.0% at the regular session of the Diet in the fall of 2024. If an 8% rise rate is achieved, Vietnam’s GDP per capita is expected to reach the US$5,000 mark. However, there are also views that are skeptical about achieving the new goals. The coming to power of the Trump 2.0 administration is one of the risk factors. In 2024, Vietnam’s surplus with the United States will exceed US$100 billion, a record high, due to strong exports. The chief economist of Japan’s Dai-ichi Life Economic Research Institute believes that “the Trump administration’s trade policy spearhead is likely to be directed at Vietnam,” pointing out the difficulty of external demand-driven economic rise.