Vietnam able to become new tiger in Asia: economist
Vietnam, a rising star in the global supply chain, has the potential to become a new tiger in Asia, economist Brian Lee Shun Rong at Maybank - Malaysia's largest financial services group and the leading banking group in South East Asia – has reportedly said.
Ho Chi Minh City seen from above (Photo: vneconomy.vn)
Hanoi (VNA) - Vietnam, a rising star in the global supply chain, hasthe potential to become a new tiger in Asia, economist Brian Lee Shun Rong atMaybank - Malaysia's largest financial services group and the leading bankinggroup in South East Asia – has reportedly said.
Speaking at Forbes Vietnam’s recent Business Forum, BrianLee affirmed that Vietnam will become a new tiger of Asia, after the Republicof Korea, Singapore, and China’s Taiwan and Hong Kong.
He said that the Vietnamese industry is developing strongly, driven by foreign-investedenterprises.
Illustrative image (Photo: VNA)
According to data from Maybank, both FDI influx intoVietnam and its export turnover in the past 10 years are bigger than those of all otherSoutheast Asian countries. In particular, the electronics and phone industryhas surpassed garment and textiles to become the biggest contributor to thetotal export value.
This shows that Vietnam has enhanced its position in theglobal value chain, said Brian Lee, adding that the productivity of its workersalso grows faster than that in other ASEAN countries.
To become a tiger of Asia, Vietnam should haveworld-standard infrastructure and skilled workforce, support domestic enterprisesin improving their foothold in the global supply chain, and step up growth basedon digital transformation, the economist noted.
The Russian newspaper also quoted economic expert Nguyen XuanThanh, a lecturer at the Fulbright School of Public Policy and Management, assaying Vietnam is well controlling inflation and fiscal and monetarypolicies.
According to him, even if the world oil price increasesagain, without exceeding the peak of 120 USD per barrel, Vietnam's economicsituation in 2022 will still be positive, with inflation below 4% and GDPgrowth over 7%./.
Vietnam’s process manufacturing sector has to date attracted 252 billion USD in foreign direct investment (FDI), accounting for nearly 60% of the total foreign capital poured into the Southeast Asian country.
As of July 20, 2022, total newly registered and adjusted capital together with capital contributions and share purchases by foreign investors surpassed 15.54 billion USD in the first seven months of this year, equivalent to 92.93 percent of the same period last year.
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.
Ho Chi Minh City seen from above (Photo: vneconomy.vn) 
Illustrative image (Photo: VNA) 
