Labourers work at a garment factory in Hung Yen province, outside Hanoi Jan 5, 2017. (Source: Reuters)
Hanoi (VNA) – International media have run articles highlighting that theyear 2017 marked Vietnam’s rapid economic growth.
In its recent article, Asian Correspondent said not only was Vietnam thetop-performer in the region, but it ranked second behind India – the onlycountry which achieved growth of over 7 percent in 2016 – in the list offastest-growing economies worldwide.
It stressed that there are multiple reasons for Vietnam’s strong performance inrecent years – especially in comparison to other ASEAN countries, including thecountry’ strategy of diversification of its economy - in terms of both therange of goods produced, and its export destinations.
According to the newspaper, Vietnam has become an increasingly attractiveinvestment destination due to its rapidly expanding population and itsdemographics, with a youthful population amounting to a large and capableworkforce, consisting of both skilled and unskilled labour. Vietnam’s geographyalso remains an important factor, with its long coastline allowing free-flowingseaborne trade with countries in the surrounding region and beyond.
Tourism is seen as is one of the main drivers of Vietnam’s economic growth,according to Mayo Advertiser tourism website. With attractions such as Ha LongBay, Hoi An town and Da Nang city, Vietnam is a perfect place for honeymoon.
Meanwhile, Forbes mentioned efforts made by the Communist Party of Vietnam infighting corruption, saying that the on-going crackdown on corruption amongVietnam’s numerous state-owned enterprises is to ensure “graft doesn’t spoilits economic miracle.”
In addition, some news agencies also stressed challenges related to economicdevelopment, education, environmental pollution and aging-population that thecountry is facing.
Asia Times said though Vietnam is growing fast on nearly all economic fronts,overcrowded roads, ports and airports threaten to throttle the expansion.
According to the General Statistics Office, Vietnam’s GDP in 2017 was estimatedto increase 6.81 percent – the highest rate in the last decade. The country isforecast to continue succeeding in attracting FDI and expanding manufacturingindustry, contributing to heighten its GDP.-VNA
The Government of Vietnam has consistently pursued a comprehensive integration policy with the focus placed on international economic integration, considering this as a motivation to promote economic reform, growth and development, Prime Minister Nguyen Xuan Phuc has said.
Vietnam has enjoyed strong economic growth in the past decade and become one of the most effective economies in Southeast Asia, online versions of the French financial La Tribute and Les Echos Investir magazines wrote on December 28.
Prime Minister Nguyen Xuan Phuc requested all sectors, localities and enterprises to work together to make stronger changes in the competitiveness of the economy while concluding an online conference between the Government and localities in Hanoi on December 29.
Vietnam’s benchmark stock index, VN-Index, could exceed 1,300 points in 2018 due to the positive outlook for the country’s economic growth and a strong inflow of foreign investment.
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.
Labourers work at a garment factory in Hung Yen province, outside Hanoi Jan 5, 2017. (Source: Reuters)
