Gulf Today: Vietnam powers ahead in economic growth
Vietnam’s success in curbing the coronavirus so far, while its Southeast Asia neighbours struggle, is helping the country power ahead in economic growth and attracting major funds, and foreign investors, said foreign experts on the Gulf Today newswire on January 7.
Vietnam becomes an attractive destination for investors thanks to success in curbing COVID-19. Illustrative image (Photo: VNA)
Hanoi (VNA) – Vietnam’s success in curbing the coronavirus sofar, while its Southeast Asia neighbours struggle, is helping the country powerahead in economic growth and attracting major funds, and foreign investors, said foreign experts on the Gulf Today newswire on January 7.
The article quoted World Bank Country Directorin Vietnam Carolyn Turk assaying that the successful management of the pandemic to date has alreadyenabled the country to capture a larger share of global trade and foreigndirect investment (FDI) during 2020.
Meanwhile, Chairwoman Jareeporn Jarukornsakul ofthe WHA Group, a Thai logistics company which has expanded its industrialestate business in Vietnam, said costs are cheap in Vietnam and its governmentis very quick with investment, allowing provinces to issue their ownregulations and investment incentives.
Recently, the Ho Chi Minh City-based MekongCapital said it had raised 246 million USD for its largest-ever fund - nearly25 percent more than the original target of 200 million USD.
Dominic Scriven, Chairman of the Vietnameseasset manager Dragon Capital said a combination of the country’s trade deals,more cash in the economy and political stability had underpinnedbetter-than-expected interest across three new funds launched by his firm.
“We were very pleasantly surprised by the marketuptake,” said Scriven.
Development was also boosted by the two freetrade deals signed last year, including the Regional Comprehensive EconomicPartnership (RCEP), the world’s largest trading bloc, and an agreement with theUK modelled on the EU-Vietnam Free Trade Agreement (EVFTA), which Vietnamratified in June.
Vietnam also has bilateral trade deals withboth the Republic of Korea and Japan, its largest sources of foreign directinvestment, and is a signatory to the 11-country Comprehensive and ProgressiveAgreement for Trans-Pacific Partnership (CPTPP).
According to Chief Executive of theEU-Malaysian Chamber of Commerce Sven Schneider, trade deal push hasgiven Vietnam an advantage over some of its regional competitors.
ꦑ Experts shared theview that Vietnam is well placed to pull ahead of its regional rivalsin 2021 as long as it keeps the virus - resurgent in many countries - at bay./.
Multinationals are looking to set up their bases in Vietnam despite various challenges that the country poses as a manufacturing destination, according to the Financial Times in the UK.
Experts have been optimistic about Vietnam’s economic growth in 2021 based on the latest situation, as well as the sound decisions and policies adopted by the Party and Government.
Foreign media view 2020 as a truly special year for Vietnam as the country has not only performed the dual role of ASEAN Chair and a non-permanent member of the UN Security Council (UNSC) but also done a good job of concurrently containing COVID-19 and sustaining economic growth.
Vietnam has been successful in controlling COVID-19 in 2020 and is likely to keep the situation contained next year, said Joseph Incalcaterra, chief economist for ASEAN at the HSBC Global Research, on an article recently published on www.dailymirror.uk.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Vietnam becomes an attractive destination for investors thanks to success in curbing COVID-19. Illustrative image (Photo: VNA) 
