Vietnam's remarkable economic development paves the way for successful implementation of the 14th National Party Congress tasks
WVR - International opinion suggests that Vietnam's impressive economic growth achievement of 8.02% in 2025 will set the stage for the country to continue successfully implementing the tasks outlined at the 14th National Party Congress.
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| Vietnam's remarkable economic development paves the way for successful implementation of the 14th National Party Congress tasks: A prosperous Vietnam will bring substantial meaning to the country's slogan “Independence – Freedom – Happiness”. (Source: Pexels) |
The international community has expressed admiration for Vietnam achieving an impressive economic growth of 8.02% in 2025, thereby laying a solid foundation for the successful implementation of the tasks set out at the 14th Congress.
Accordingly, the World Bank (WB) considers Vietnam a notable success story in development. Economic reforms since the initiation of Đổi Mới in 1986, along with global trends, have transformed Vietnam from one of the world's poorest countries to a middle-income economy within a single generation.
With a stable political foundation, the economy has demonstrated resilience through various crises. Economic growth rose from 5% in 2023 and increased further in 2024 due to rising global demand and restored domestic consumer confidence.
Nikkei Asia notes that Vietnam is on track to surpass Thailand in economic size by nominal GDP as early as 2025, thanks to a large-scale infrastructure investment program that is driving rapid growth.
If growth accelerates as planned, Vietnam's nominal GDP could exceed $500 billion by 2026 or 2027, surpassing Thailand and potentially becoming Southeast Asia's second-largest economy after Indonesia, with per capita GDP approaching Indonesia's level.
Russian news agency Sputnik sees promising prospects for Vietnam's economy based on its remarkable growth in 2025. Specifically, Vietnam's business environment continues to improve significantly as the number of enterprises entering the market increases sharply. In 2025, over 297,000 new and returning businesses were established, far exceeding the number of businesses exiting the market.
Overall, Vietnam's economic picture in 2025 is highlighted by solid growth, maintained macroeconomic stability, a strong recovery of traditional drivers, and the gradual formation of new drivers.
The achievements in the final year of the 2021-2025 five-year socio-economic development plan create an important foundation for the economy to enter a new phase of development, with expectations for more sustainable and quality growth in the coming years.
The Centre for Economics and Business Research (CEBR) in the UK believes that Vietnam maintains a robust GDP growth rate, exceeding the global average, ranking among the highest in the Asia-Pacific region in recent years.
According to CEBR, Vietnam's GDP size at current prices reached $459 billion in 2025. Vietnam's economic size remains 34th in the world, similar to 2024, and is projected to remain unchanged in 2026.
Notably, Vietnam's economic size is expected to improve significantly in the coming years. Vietnam's economy is forecast to grow at an average of 5.3% annually over the next decade. Vietnam's economic size will rank third in Southeast Asia within nearly a decade, compared to its current fifth position.
Meanwhile, Fion Ng, CEO of Asia's leading industrial development company BW Industrial, believes investor confidence in Vietnam's economy remains very strong.
"Vietnam offers numerous benefits to trade partners such as the US and South Korea. Vietnam has a strong young engineering workforce with competitive costs, which is one of the reasons many major semiconductor corporations have turned to Vietnam, including companies from Japan and South Korea. While Typhoon Yagi has somewhat impacted Vietnam's growth momentum, I believe this will not derail Vietnam's growth, and its long-term prospects remain unchanged," said Fion Ng.
In a recent report on investment opportunities in Vietnam, Jacqueline Broers, Deputy Portfolio Manager at the UK-based Utilico Investment Trust, also assessed Vietnam as one of the world's 20 fastest-growing countries, compared to the global average of 2.3%.
According to Jacqueline Broers, one of the key drivers of Vietnam's strong growth is its golden demographic structure.
"Vietnam has set a goal to become a high middle-income country by 2035 and a high-income nation by 2045. We see Vietnam benefiting from a highly educated and affordable workforce, with an adult literacy rate of up to 98%.
This is one of the reasons Vietnam is becoming increasingly attractive to foreign investors looking to diversify their supply chains, such as Apple. Foreign direct investment inflows into Vietnam are strong and sustainable. Vietnam is likely to become a preferred destination for investors in Asia," said Jacqueline Broers.
For her part, Sarah Marniesse, Executive Director of the Training Center of the French Development Agency (Campus AFD), particularly appreciates Vietnam's innovation efforts.
According to her, Vietnam is one of the leading countries in innovation among middle-income nations, with remarkable progress. This is evident in Vietnam's rising rankings on innovation indices, including the top three global indices for high-tech imports, high-tech exports, and creative goods exports.
"Efforts are paying off, and Vietnam is asserting itself as one of the leading countries in innovation. Vietnam ranks second in the Innovation Index among 38 middle-income countries. Since 2022, the Vietnamese government has considered the development of science, technology, and innovation as a major national policy, and since then, many strategic breakthroughs have been recorded," said Sarah Marniesse.
Notably, Professor V. Mazyrin, currently the Director of the Vietnam and ASEAN Research Center, Institute of China and Contemporary Asia (ICCA), Russian Academy of Sciences, and Professor at the Institute of Asian and African Studies, Lomonosov Moscow State University, has positively evaluated Vietnam's economy.
According to Mazyrin, 2025 marks a new step in the systemic transformation of the economy, political institutions, and social sectors. Under the initiative of General Secretary of the Communist Party of Vietnam Central Committee Tô Lâm, many important measures have been implemented to enhance the efficiency of administrative machinery and state governance mechanisms at both macro and local levels.
The results achieved are evident in Vietnam's rise in international economic rankings, advancing to the group of the world's top 30 economies, occurring much faster than forecasted, thereby contributing to increasing Vietnam's position and influence on the international stage.
According to Professor Jonathan R. Pincus, former Chief Economist of the United Nations Development Program (UNDP) in Vietnam, Vietnam has achieved many outstanding accomplishments in the past term thanks to exports and stable macroeconomics.
Highlighting the notable achievements in 2025, the former UNDP Chief Economist stated that Vietnam is expected to achieve the highest GDP growth in Asia, with the main drivers coming from manufactured goods exports and a booming wave of investment in artificial intelligence (AI).
Another bright spot is the continuous development of essential infrastructure. Over 3,500 km of new highways were put into operation in 2025, and Long Thành International Airport has moved closer to completion.
Many key power projects also commenced operations in 2025, including the inauguration of the 500 kV line 3 from Quảng Trạch (Quảng Bình) to Phố Nối (Hưng Yên) and the Nhơn Trạch 3 and Nhơn Trạch 4 LNG power plants.
According to the former UNDP Chief Economist, Vietnam is facing many important economic opportunities in 2026, thereby continuing to diversify exports and moving towards higher-tech sectors.
