Vietnam Pursues Multifaceted Growth Amid Economic Expansion and International Cooperation

Vietnam is making steady progress across a range of sectors as it seeks to maintain economic growth and strengthen its engagement with the international community. Economically, enhancing export industries is a key priority. Notably, Vietnam has established itself as the world's fifth-largest, Asia's second-largest, and Southeast Asia's leading exporter of wood and wood products, providing a foundation for higher added value and sustainable development. Furthermore, driven by a consumer market of 100 million people and rising incomes, demand for processed and health-oriented food products is also increasing, positioning Vietnam not only as a promising market but also as a gateway to Southeast Asia. Infrastructure development is also advancing. At Phu Quoc International Airport, the construction of a new 3,300-meter-long runway has been completed and is now undergoing final inspections. Additionally, DHL is constructing its North Logistics Campus, directly accessible via the Hanoi-Hai Phong Expressway, enhancing connectivity to Hanoi and Hai Phong Port. This reflects the growing demand for integrated, technology-driven supply chain solutions as Vietnam cements its position as one of Asia's fastest-growing manufacturing and logistics hubs. In terms of diplomacy and trade relations, Vietnam is working to maintain a constructive and cooperative spirit with the United States, while urging the US side to fully consider Vietnam's adopted measures when adjusting tariffs on Vietnamese goods, consistent with the actual situation and Vietnam's ongoing legislative and enforcement efforts. Meanwhile, trade with China has reached 305.6 billion CNY, a year-on-year increase of 28.3%, representing a significant portion of the total trade turnover through border gates. Under its one-party system, the Vietnamese government is focused on achieving sustainable economic growth and enhancing international competitiveness. The Vietnam Chamber of Commerce and Industry (VCCI) has launched a Vietnam business leadership development program for 2026-2030, aiming to cultivate a new generation of internationally competitive CEOs. Further discussions are planned focusing on AI applications, sustainable development, and human resource development, as well as meetings to foster international partnerships. These initiatives demonstrate Vietnam's intent to capitalize on its geo-economic advantages, extensive network of free trade agreements (FTAs), and improving investment climate to attract new investments, expand manufacturing, and boost exports. Source: VietnamPlus English