Speaking in Hà Nội on the morning of April 13, President Tô Lâm outlined a massive economic transition, stating that Việt Nam’s “new development phase will require about 38 quadrillion đồng (approximately 1.442 trillion in USD—editor’s note).” This figure is roughly three times the country’s GDP in 2025, which stood at $514 billion.

To achieve this, Tô Lâm announced a shift in the government’s economic function, transitioning the state from a direct investor to a facilitator. Out of the required 38 quadrillion đồng, state capital will only account for about 8.5 quadrillion đồng (approximately $323 billion), meaning other sources must mobilize the remainder.