Vietnam ranks high on economic performance in region: website
The AXA Investment Managers Asia headquartered in Singapore recently published an article which elucidates the reasons behind Vietnam’s high ranking on economic performance and discusses the prospects for broadening the country’s position in the regional and global production ecosystems.
A production line of a foreign invested firm in Thai Nguyen province. (Photo: VNA)
Hanoi (VNA) - The AXA Investment Managers Asia headquartered in Singapore recently published an article which elucidates the reasons behind Vietnam’s high ranking on economic performance and discusses the prospects for broadening the country’s position in the regional and global production ecosystems.
“There are several characteristics contributing to Vietnam’s growing trade and manufacturing competitiveness,” the article stated.
It affirmed that the successful integration into the Association of Southeast Asian Nations (ASEAN) was key to igniting Vietnam’s trade engine.
“Vietnam also signed free trade agreements with other major economies including China, the European Union, the UK, and Japan, creating a fertile environment for trade relations to grow,” it noted.
It continued that a rapid increase in manufacturing competitiveness has also contributed to Vietnam’s rise as a regional export powerhouse. Manufacturing value-added increased by the most in the past decade, doubling India’s gain.
Vietnam’s ranking in the World Bank’s “ease of doing business” index – up 23 places to 70 from ten years ago (Photo: VNA)
The article went on that manufacturing competitiveness has been underpinned by low labour expenses. A rapidly growing young population has helped to keep wage pressure low despite fast economic growth.
“Vietnam has also been very successful in attracting foreign direct investment (FDI), thanks to favourable government policies”.
The authors cited that by 2020, the number of industrial parks in Vietnam had grown to 369, an increase of 180 percent from 2005. Vietnam’s ranking in the World Bank’s “ease of doing business” index – up 23 places to 70 from ten years ago.
“Vietnam’s FDI inflow has experienced the fastest growth in the region,” the article pointed out.
According to a set of proprietary competitiveness scores calculated based on ease of doing business, logistic quality, wage cost, GDP growth and changes in the share of exports and FDI, Vietnam is viewed as the most competitive country in the region, which has underpinned its impressive export market share gains in recent years.
A worker at a plant in Vietnam. (Photo: VNA)
The authors projected that in the short term, the adverse impact from the COVID-19 pandemic will linger, weighing on Vietnam’s manufacturing and export sector, restraining the pace of corporate capital expenditure, and hampering the relocation of global supply chains.
Meanwhile, over the long term, foreign businesses are expected to resume the establishment of efficient global supply chains./.
Vietnam will need to do more if it wants to become a digital powerhouse as envisioned in the socio-economic development strategy adopted by the Party in February 2021, said a report of the World Bank.
The Politburo listened to the Party delegation to the Government’s reports on the 2021 socio-economic performance, the 2022 socio-economic development plan, the 2021 State budget, the 2022 State budget estimate and 2022-2024 finance-State budget plan, and the time for salary reform, during a meeting in Hanoi on September 17.
The Ministry of Planning and Investment has sketched out two scenarios for economic growth, Deputy Minister Tran Quoc Phuong told the press conference following the Government’s regular meeting in Hanoi on October 2.
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.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
A production line of a foreign invested firm in Thai Nguyen province. (Photo: VNA) 
Vietnam’s ranking in the World Bank’s “ease of doing business” index – up 23 places to 70 from ten years ago (Photo: VNA) 
A worker at a plant in Vietnam. (Photo: VNA) 
