Vietnam is the 12th largest economy in Asia.

Growth while ensuring macroeconomic balances

A recent report by Seasia Stats said that Vietnam will become the 12th largest economy in Asia by 2025 with an expected GDP of 506 billion USD. In the context of many fluctuations in the global economy, Vietnam has maintained stable growth, controlled inflation and ensured important macroeconomic balances.

In the Seasia Stats rankings, China continues to be the largest economy in Asia, followed by Japan and India. Notably, in Southeast Asia, Indonesia is in the top 5 with an estimated GDP of 1,500 billion USD.

Notably, Seasia’s March 17, 2025 newsletter added that Vietnam is currently one of five ASEAN countries offering residency to investors. Although Vietnam does not have an official golden visa program, it still offers attractive residency options through the Vietnam investor visa. This program allows foreign nationals to live and work in Vietnam for up to 5 years, with four visa types available: DT1, DT2, DT3, and DT4. Although the initial stay is limited, visa holders can extend their stay for up to 10 years through a Vietnam permanent residence card, which also grants residency to the applicant’s immediate family members.

Export has always been an important growth driver for Vietnam. Illustrative photo

Vietnam's strong rise shows steady progress in its economic development strategy, especially attracting foreign investment and promoting exports, making good use of opportunities opened up by multilateral and bilateral trade agreements.

In recent times, Vietnam has been considered an example, a model for success in promoting exports with many consecutive years of double-digit export growth as well as stable growth, even during the Covid-19 pandemic.

Exports, with the implementation of many flexible and proactive policies, have truly become an important growth driver for Vietnam, and at the same time played a positive role in bringing vitality and appearance to the Vietnamese economy in the complicated context of the world economy. Preliminary figures show that from the beginning of 2025 to mid-March, Vietnam's total export value reached 82.29 billion USD, an increase of 6.3%, equivalent to an increase of 1.07 billion USD compared to the same period in 2024.

Take advantage of FTAs

The stable growth of Vietnam's export picture in particular and import-export in general also comes from proactively implementing free trade agreements of which Vietnam is a member as well as accelerating the progress of substantive FTA negotiations with potential partners such as Israel, UAE, regions such as the South American Market Community MERCOSUR, EFTA...

The effective exploitation of FTAs ​​brings market space for Vietnamese goods, which can be clearly seen through the implementation of 3 new generation FTAs: the Vietnam - EU Free Trade Agreement (EVFTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Vietnam - UK Free Trade Agreement (UKVFTA), Vietnam's export turnover has grown strongly. Growth to Vietnam's FTA markets in recent years has maintained double digits, and export turnover to new markets with FTAs ​​is also very impressive.

Participation in multi-level international economic cooperation and association agreements, especially 17 free trade agreements, has connected Vietnam with more than 60 key economies, participating more deeply in global production and supply chains, creating opportunities to expand and diversify markets with high incentives, participating more deeply in global supply chains and production networks; actively contributing to the process of synchronous and comprehensive innovation.

In 2025, Vietnam's economic outlook is forecast to be very positive. FDI attraction will continue to increase strongly thanks to Vietnam's strategic location, young workforce and increasingly improved business environment. Import-export trade activities continue to improve, especially in the electronics, textile and agricultural sectors. Digital economic development is expanding with the increased application of digital technologies and e-commerce...

The achievements in economic growth as well as maintaining the export momentum of Vietnam in recent times also bear the mark of the dynamic and substantial economic diplomacy of the leaders of the Party, the State of Vietnam, the leaders of the ministries and functional branches, the main one here is the Ministry of Industry and Trade. Economic diplomacy is increasingly implemented methodically and with the participation of the entire political system, the close coordination of ministries, branches and localities, at the same time opening up breakthrough opportunities for Vietnam, especially in the field of science and technology.

In 2024 alone, Vietnamese diplomatic missions abroad, especially the Vietnamese trade office system in other countries, have carried out more than 700 economic diplomacy activities to promote trade, investment, and tourism; supported localities in promoting, introducing, connecting, and establishing relationships with foreign partners, with more than 400 trade and investment promotion activities of localities at home and abroad, including supporting provinces and cities to sign 130 agreements with international partners.

In his recent article "Strengthening international integration", General Secretary To Lam emphasized that economic integration is identified as the center of international integration, integration in other fields must facilitate economic integration with the top priority being restructuring the economy, innovating the growth model and promoting digital transformation. " It is necessary to effectively utilize international economic commitments, agreements and linkages, especially new-generation FTAs, to enhance the intertwining of interests, not to depend on a few partners ", the General Secretary pointed out.

Quang Loc

Source: https://congthuong.vn/viet-nam-la-nen-kinh-te-lon-thu-12-chau-a-381330.html