The National Assembly “finalizes” GDP growth for 2026 at 10% or higher

On the morning of November 13, the National Assembly voted to approve the Resolution on the socio-economic development plan for 2026, with 429 out of 433 attending deputies in favor (equivalent to 90.51% of the total number of National Assembly deputies).

The Resolution sets 15 key targets

The Resolution of the National Assembly states that 2026 is an important year, marking the 14th Congress of the Party, the election of deputies to the 16th National Assembly and to People’s Councils at all levels for the 2026–2031 term, the first year of implementing the 2026–2030 five-year socio-economic development plan, and the beginning of the era of the nation’s vigorous, strong, and prosperous development.

The priority is to promote growth while maintaining macroeconomic stability, controlling inflation, and ensuring major economic balances; to accelerate the building and comprehensive improvement of development institutions, promptly and decisively remove bottlenecks, unblock and mobilize all resources; and to quickly stabilize the organizational apparatus, building a streamlined, strong administration that is effective, efficient, and high-performing.

At the same time, it is necessary to enhance strategic autonomy, innovate the development model with a focus on establishing a new growth model driven primarily by science and technology, innovation, and digital transformation; and to improve the productivity, quality, resilience, and competitiveness of the economy.

Achieve comprehensive and breakthrough progress in building socio-economic infrastructure, effectively exploiting new development spaces. Focus on developing high-quality human resources; promoting culture and society in close, harmonious connection with economic development; and prioritizing social welfare and improving people’s living standards.

Resolutely and persistently combat corruption, waste, and negative practices; proactively conduct policy communication, “using positive actions to push back negatives” and “using beauty to eliminate ugliness”; create momentum and trust among the people; enhance the effectiveness of mass mobilization and front work to build social consensus. Strengthen and consolidate national defense and security, firmly safeguard independence and sovereignty; maintain political security, social order, and public safety; and promote extensive, substantive, and effective foreign affairs and international integration.

Regarding the key targets, the National Assembly resolves to strive for a 2026 growth rate of 10% or higher; a per capita GDP of 5,400–5,500 USD; the share of processing and manufacturing industry in GDP at approximately 24.96%; an average consumer price index (CPI) growth of around 4.5%; an average social labor productivity growth of about 8.5%; and the proportion of agricultural labor in total social labor at approximately 25.3%.

In addition, the proportion of workers with degrees or certificates is expected to reach around 29.5%; the unemployment rate among the working-age population in urban areas is below 4%; the poverty rate (according to the multidimensional poverty standard) is to decrease by 1–1.5 percentage points; the number of doctors per 10,000 people is expected to reach 15.3; the number of hospital beds per 10,000 people at 34.7; and the health insurance coverage rate at 95.5%.

The proportion of communes meeting the new rural standards (according to the National Criteria for New Rural Development at all levels for the 2026–2030 period) is set at a minimum of 15%; the rate of urban household solid waste collection and treatment meeting standards is 95%; and the proportion of industrial parks and export processing zones in operation with centralized wastewater treatment systems meeting environmental standards is 95%.

Key tasks and solutions

To realize the set targets, the National Assembly proposes that the Government and relevant agencies effectively implement 11 key tasks and solutions:

Continue to prioritize growth promotion while maintaining macroeconomic stability, controlling inflation, and ensuring the major balances of the economy, with public debt and the state budget deficit kept within the prescribed limits.

Focus on comprehensively improving institutions and laws, strongly innovating thinking, promoting strategic breakthroughs, and enhancing the effectiveness of law enforcement organization; accelerate the reduction and simplification of administrative procedures, improve the investment and business environment; tighten discipline and order, and further strengthen the fight against corruption, waste, and negative practices.

Continue to focus on improving regulations regarding the organization of the state administrative apparatus, perfecting the management and executive system to serve development.

Establish a new growth model driven primarily by science and technology, innovation, and digital transformation, promote the restructuring of the economy, and accelerate industrialization and modernization.

Focus on investing in the construction and ensuring the progress of strategic infrastructure projects that are comprehensive, modern, intelligent, and nationally and internationally connected, particularly key transportation works, railway systems, international airports, seaports, and energy infrastructure; promote the development of interregional projects, large urban infrastructure, and digital transformation infrastructure; and adjust planning appropriately to the new context.

Promote the development of modern, high-quality human resources in priority, emerging, high-tech industries and fields; create breakthroughs to strongly promote scientific and technological research, innovation and digital transformation.

Invest in the development of cultural industries, make progress, social justice, improve people's material and spiritual life and health.

Manage and use resources effectively; strengthen proactive response to climate change and prevent and combat natural disasters; protect the environment, limit pollution; harmoniously resolve the relationship between economic development and environmental protection, and achieve sustainable development goals.

Strengthen and enhance national defense, ensure national security, maintain social order and safety, and create a peaceful and stable environment for the country’s development and international integration. Promote breakthrough development in defense and security industries, with self-reliance, autonomy, resilience, dual-use capability, and modernization.

Accelerate the comprehensive, effective, and synchronized implementation of foreign affairs and international integration; promote economic diplomacy, with a focus on technology diplomacy; strengthen multilateral diplomacy, actively and proactively participating in shaping, leading, and establishing the rules in global governance and addressing common global issues.

Be even more proactive in information dissemination and communication, creating motivation, inspiring, and encouraging innovation; enhance the effectiveness of mass mobilization efforts to build social consensus.