Vietnam: A Rising Star in Southeast Asia
Vietnam is on a roll. The nation has become a shining example of economic growth and resilience, captivated the world with its recent football triumph, and is attracting increasing global investment.
A Nation on the Move
Late in 2023, Vietnam achieved the significant milestone of becoming an upper middle-income nation. The country celebrated this achievement on another bright note the night of January 5th, 2025, a night when the streets of Hanoi, Ho Chi Minh City, and other urban centers flooded with jubilant football fans. Vietnam had just won the 2024 ASEAN Cup final against Thailand, further galvanizing its national pride.
A Powerhouse of Trade
Beyond sporting successes, Vietnam’s economy is a robust force in Southeast Asia. Over the past decade, the country has skillfully navigated global economic challenges by actively diversifying its trading partners. Today, Vietnam boasts various robust free trade agreements with major economies like the European Union, the US, China, Japan, and its regional counterparts in ASEAN.
“Vietnam is committed to protecting the legitimate rights and interests of foreign investors in the country in any circumstances,” Prime Minister Pham Minh Chinh declared. “The Vietnamese government will continue its efforts to help enterprises weather challenges and seize opportunities for long-term operations in Vietnam on the principle of harmonious benefits and shared risks.”
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Pham Minh Chinh, Prime Minister The year 2025 is of special significance as it is for speeding-up and making breakthroughs to reach the finish line to successfully implement the five-year socioeconomic development plan. It is also the year of many important events for the country: the 95th anniversary of the Party establishment; the 50th anniversary of the liberation of the south and national reunification; the 135th anniversary of the birth of President Ho Chi Minh; and the 80th anniversary of the country’s founding. This is also a year for organising congresses at all levels, towards the 14th National Party Congress, ushering in a new era – that of striving and developing for a more prosperous and civilised Vietnam, as Party General Secretary To Lam has directed.
Implementing the strategic goals to celebrate the 100th anniversary of the founding of the Party, and the 100th anniversary of the founding of the country, is a challenging but also very glorious mission for our generations today and tomorrow. It is a connecting point between the past, present, and future, and is a prerequisite to bring the country out of the middle-income trap, rising to become a developed country. We can do it with innovative thinking, high determination, great efforts, effective methods, and flexible organisation. We must focus on realising the country’s unique potentials, outstanding opportunities, and competitive advantages. Heads of every level, at every enterprise, and each Vietnamese citizen need to ensure the spirit of solidarity and consensus, in the spirit of daring to think and daring to do. What is said must be done and what is committed must be carried out. And what is done must be measured and quantifiable. In 2025, a continued priority will be focused on promoting strong economic growth associated with macroeconomic stability, controlling inflation, and ensuring major balances of the economy . This year, the government will enhance analytical and forecasting capacity, and promptly manage fiscal and monetary policies to mobilise and effectively use resources. The government will also centre on renewing traditional growth drivers, especially solutions to stimulate investment, consumption and exports, while creating momentum to ensure new growth drivers, especially digital transformation, green transformation, development of emerging industries such as semiconductor, chips, big data, AI, Internet of Things, and cloud computing.
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A Land of Opportunities
Vietnam’s success story hinges on various factors, including its commitment to administrative reforms, and foreign investment, which is driving strong growth throughout the country.
The US
Systems, states. In 2024, the economy saw over 157,200 businesses newly established, registered at $64.45 billion. Moreover, nearly 76,200 enterprises resumed operations, raising the total number of enterprises of these two types to over 233,400 – up 7.1 percent on-year. In 2024, total capital supplemented into the economy reached $84.4 billion, up 3.6 percent on-year.
Government