CaliToday (06/9/2025): Vietnam’s government is setting its sights on an exceptionally ambitious macroeconomic target, with the Prime Minister reaffirming the nation's determination to achieve a GDP growth rate of 8.3% to 8.5% this year. This goal is being pursued despite acknowledging the existence of significant domestic and international challenges, signaling a confident and proactive economic strategy.
The Prime Minister's announcement underscores a commitment to high-growth policies aimed at cementing Vietnam's position as one of the fastest-growing economies in the region. This ambitious target is set against a complex global backdrop, which includes fluctuating market demands, supply chain uncertainties, and geopolitical tensions that could impact Vietnam's trade-reliant economy. Domestically, challenges such as inflationary pressures and the need for continued structural reforms are also present.
In his address, the Prime Minister emphasized that achieving this goal would require concerted efforts from all levels of government and sectors of the economy. Key strategies are expected to focus on boosting exports, attracting high-quality foreign direct investment (FDI), accelerating digital transformation, and stimulating domestic consumption to build a resilient and self-sufficient economic foundation.
State Bank Reports 60% Plunge in Online Fraud Following Biometric Rollout
In a related development highlighting the country's progress in digital governance and security, the State Bank of Vietnam (SBV) has announced a major victory in the fight against financial cybercrime. According to the central bank, the number of online fraud cases has plummeted by nearly 60% following the nationwide implementation of a mandatory biometric authentication system.
This significant reduction comes after the SBV mandated that all commercial banks integrate biometric verification—such as facial recognition or fingerprint scanning—for a wide range of online transactions. The policy has now been successfully applied to over 120 million bank accounts across the country.
The measure was introduced to combat a surge in sophisticated online scams, including fraudulent account takeovers and illegal money transfers, which had previously caused significant financial losses for consumers and undermined confidence in digital banking. The biometric requirement adds a powerful layer of security, making it substantially more difficult for criminals to access accounts even if they have obtained a user's password or other credentials.
The successful implementation and its immediate, drastic impact on fraud rates are being hailed as a landmark achievement in Vietnam's national digital transformation agenda. It not only protects consumers but also strengthens the integrity and stability of the country's rapidly expanding digital economy, providing a secure foundation for future growth in e-commerce and online financial services.
