Last week saw the commencement of construction of 250 initiatives throughout the nation, as part of celebrations to mark 50 years since national reunification and the 80th anniversary of National Day.

“These projects are expected to generate more than 18 per cent of GDP in 2025 and over 20 per cent of GDP annually in the coming years,” stated Deputy Minister of Construction Le Anh Tuan. “State-funded schemes will create strategic infrastructure frameworks to attract and promote private investment.”

According to the Ministry of Construction (MoC), development of these projects reflects the nation’s self-reliance and proactive efforts in developing socioeconomic infrastructure.

“It vividly and authentically illustrates the dedication and concerted efforts of the entire political system, relevant stakeholders, and the unity and determination of the people as they compete and collaborate to implement initiatives across the country,” the MoC stated.

As of August 13, the MoC had received reports from all provinces and cities, 17 ministries and sectors, and 18 groups and corporations. Based on these, the Ministry of Finance (MoF) has reviewed and compiled a list of 250 projects that meet the conditions for either inauguration or groundbreaking (see box).

Among the 250 projects, eight are nationally significant, 46 are classified as Group A, 155 as Group B, and 41 as Group C.

The total capital investment for these projects amounts to $51.2 billion. Of this, 129 initiatives costing are state funded at $19.1 billion. Over 120 schemes are funded by other sources, totalling $32 billion.

This covers five foreign-invested ventures registered at $2.16 billion, including a smart electronics factory by Tonly Electronics Vietnam at the Dong Nai Industrial Park in the northeastern province of Quang Ninh; a venture from Bac Ha Hanoi Smart City Development Investment in Hanoi; a food processing factory by PepsiCo in the northern province of Ninh Binh; an industrial infrastructure project by WHA Smart Technology in the north-central province of Thanh Hoa; and a radial tyre manufacturing plant by Cofo Vietnam Tyre, also in Thanh Hoa.

Among the standout projects inaugurated last week was the National Exhibition Centre in Dong Anh commune of Hanoi, developed by Vingroup. Originally scheduled for completion in 2027, the complex has a highly intricate design, striking architecture, and super-heavy steel structures.

Construction began in August 2024, with the centre spanning more than 900,000sq.m and designed to host national and international political, economic, cultural, and tourism events. Built in a record period of just under 10 months, the complex cost over $280 million.

Its centrepiece is Kim Quy Exhibition Hall, a symbolic structure inspired by the legend of God Kim Quy (Golden Tortoise) at the ancient Co Loa Citadel. Covering over 100,000sq.m and rising more than 56 metres high, it is the world’s largest circular exhibition hall. The building features a main lobby and nine interconnected halls.

The government has set an economic growth goal of 8.3-8.5 per cent for 2025, and double-digit growth for the 2026-2030 period.

However, according to Deputy of Finance Do Thanh Trung, for GDP to achieve a growth rate of more than 10 per cent a year, the ratio of development investment must increase from 32.1 per cent of GDP now to 41.5 per cent by 2030, or $262-296 billion a year. This includes about $76-88 billion from the state budget, $40-45 billion worth of foreign investment, and $146-162 billion from the private sector.

To reach higher economic growth this year, key sectors must also grow at a very high level, with the industrial-construction sector set to climb 11-12 per cent a year and the service sector 10-11 per cent, which is 2-3 percentage points higher than in 2024.

To realise the new growth target for 2025, the MoF said total development investment capital for the second half of the year will be about $111 billion, which is $3 billion higher than the scenario of 8 per cent economic growth.

Disbursement of public investment in the last six months of 2025 is set to be around $28 billion. Private investment will be about $60 billion, which is $3 billion higher than the scenario of 8 per cent economic growth.

The MoF is teaming up with ministries and localities to formulate Vietnam’s economic growth scenario for the 2026-2030 period.

“The demand for development investment in the coming period is quite great, accounting for about 40 per cent of GDP; and annual investment growth will be 17-20 per cent, which will be far higher than now when the rate is about 30-33 per cent of GDP,” stated Minister of Finance Nguyen Van Thang said. “As compared to international practice, if a nation achieves an annual growth rate of 10 per cent or more, its total development capital must be as much as 40 per cent of GDP. We must pay special attention to this, and more importantly, it is necessary to improve investment effectiveness.

Source: Vietnam Investment Review