New York (VNA) – An article recently published on the East Asia Forum site assessed prospects and challenges facingthe Vietnamese economy this year.
Per the article, 2021 was a tough year as shutdowns madelife difficult and GDP slowed to 2.6 percent. Increasing supplies of vaccineseventually allowed more normal activities in the last few months of the year.Vietnam’s GDP shrank 6 percent in the third quarter before bouncing back in thefourth quarter.
According to the author, despite factory closures, exportsrose 19 percent in 2021 to an astonishing 336 billion USD, while GDP was only 271billion USD in 2020 and grew only slightly in 2021. The high level of foreigndirect investment (FDI) did not grow nor shrink much.
The article noted that prospects for Vietnam in 2022 aregood. As factories and services approach normal, there will be a jump in output.Most projections are for 6–7 percent real GDP growth. Tourism should start torecover from its over 95 percent decline from 2019 levels. Exports should growabout 15 percent and the trade balance will remain modestly positive. Inflationwill remain low and the VND will continue to appreciate slightly against theUSD.
The author also pointed out that one side effect ofVietnam’s rapid export growth has been a lag in domestic value-added inexports. Much of the work has been simple assembly rather than the developmentof a dense network of supplier industries that would make the FDI ‘stickier’ aswages rise and labour supplies tighten. The COVID-19 pandemic slowed progresson this front, as fewer new enterprises opened and many more temporarilyclosed. Many firms that are still in business are financially weaker and willneed time to accumulate resources to improve machinery, training and marketing./.
Vietnam is expected to become a new production hub of the world, as “Made in Vietnam” products are winning larger shares in the international market, according to Russia's Sputnik news agency.
There are great opportunities and a bright future for US companies within sight in Vietnam despite the economic implications of the COVID-19 for the country, said Adam Sitkoff, executive director from the American Chamber of Commerce (AmCham) Hanoi, in a recent interview.
Vietnam is striving to sustainably develop its fishery and promote responsible practices while protecting and restoring aquatic resources and preserving biodiversity, according to a draft national plan on protecting and exploiting aquatic resources from 2021 – 2030, with a vision towards 2050.
Vietnam and the US should enhance connectivity and work to ensure continuity of supply chains and prevent adverse impacts on the production sector, which has already been affected by the COVID-19 pandemic, an official has said.
Vietnam is expected to accelerate its economic recovery from the pandemic this year after having recorded a 2.6 percent increase in gross domestic products (GDP) in 2021, Singapore’s Business Times reported.
According to targets adopted at the fifth Party Congress of the Management Board of the Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) on June 22, the zones aim for average capital attraction of 8–10 million USD per hectare, with a 70% disbursement rate of registered capital achieved on schedule.
This year’s event attracted more than 350 entries from cities and provinces across the country, reflecting growing interest in and commitment to the Fourth Industrial Revolution.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
Illustrative photo (Source: VNA) 
