Vietnam to Remain Regional Growth Leader for 2026-2035: Report

Vietnam is poised to remain the leader in economic growth within the Southeast Asian region from 2026 to 2035, according to a recent report. This growth is expected to be underpinned by a multifaceted economic strategy. The tourism sector is targeting 25 million foreign arrivals, 150 million domestic trips, and total revenue of VND 1.125 quadrillion (US$43 billion) in 2026. The advancement of digitalization is facilitating product access beyond geographical limitations, altering consumer purchasing behavior. In international trade, Vietnam continues to be a significant destination for international corporations and buyers seeking new supply sources, supported by its 17 free trade agreements (FTAs). A stable investment environment, improving production capacity, and its strategic location in Southeast Asia enhance its appeal. Domestically, state budget revenue showed robust growth, estimated at VND 2.02 quadrillion (US$77.7 billion) in the first eight months of 2026, up 16% year-on-year. This is further supported by domestic revenue reaching VND 1.75 quadrillion, an increase of 16.6% year-on-year. In the agricultural sector, the scheme for sustainable development of one million hectares of high-quality, low-emission rice in the Mekong Delta by 2030 is progressing, with efforts accelerating towards achieving the target. Farmland meeting organic standards is also expanding. In industry and trade, events like the Northern Industry and Trade Fair - Bac Ninh 2026 and VietnamPrintPack 2026 are contributing to regional industrial promotion and supply chain strengthening. Notably, in the renewable energy sector, wind power projects, particularly in Quang Tri province, are included in the plan, indicating a commitment to energy transition. On the diplomatic and security front, Vietnam expresses its commitment to maintaining and developing relations with China, with the Central Military Commission and Ministry of National Defence aiming to strengthen areas of cooperation and foster substantive ties. This reflects Vietnam's strategically important geopolitical position. Former Indian Deputy National Security Advisor noted that the active participation of partner countries like Vietnam contributed to the success of BRICS summits, offering Vietnam opportunities to diversify external ties and better align with emerging growth drivers. Exchanges with Austria are proposed to be stepped up through the International Organisation of Securities Commissions (IOSCO), including online technical meetings for experts to share information. Regarding relations with Argentina, the Vietnamese Ambassador highlighted Argentina and Mercosur as important partners in South America, noting broad potential to deepen trade and investment ties. These developments indicate Vietnam's commitment to leading regional economic growth while deepening international cooperation and pursuing sustainable domestic development.