Vietnam's Growing International Presence: Economic Growth and Diversified Diplomacy

Vietnam is steadily increasing its international presence through its participation as a partner country in BRICS summits and the elevation of its ties with India to an Enhanced Comprehensive Strategic Partnership. This is seen as an opportunity for Vietnam to diversify its external relations and better align with emerging drivers of growth. In terms of economic growth sustainability, investors are drawing a clearer distinction between economies driven by cyclical growth and those capable of converting growth momentum into sustainable, risk-adjusted returns. FTSE Russell views Vietnam as a remarkable growth story in Asia and wishes to further deepen cooperation with the Vietnamese Government and market participants. Domestically, Ho Chi Minh City will implement a range of tasks and solutions to enhance business competitiveness, promote sustainable exports, expand markets, and enable local businesses to engage more deeply in global value and supply chains. This is also expected to contribute to the development of the city as a regional hub for trade, logistics, and international economic integration. The automobile industry is entering a new stage of development with a growing number of exporters, yet international markets present major challenges related to localization, supporting industries, technological capabilities, human resources, and country-specific technical standards. Exhibitions like VietnamPrintPack 2026 serve as a hub connecting the supply chain, showcasing breakthrough solutions in automation, digital printing, RFID-integrated smart packaging, and eco-friendly materials across Vietnam's industrial landscape. At the local level, efforts are being made to stimulate regional economies and promote local specialties through events such as the Northern Industry and Trade Fair and livestream sessions, featuring traditional agricultural products, handicrafts, and One Commune One Product (OCOP) items. Financially, state budget revenue in the first eight months of 2026 reached 80% of the annual estimate, showing a robust year-on-year increase of 16%. The State Bank of Vietnam is making minor adjustments to the exchange rate, aiming to maintain market stability. Within the broader ASEAN-China relationship, trade and investment cooperation between Vietnam and China has played a key role in connecting markets and production chains, with substantive cooperation advancing across multiple areas. Information Source: VietnamPlus English